Believe again if you think you don’t need a bookkeeper. If you’re debating whether or not it’s time to hire a bookkeeper contact Darcy Services or consider the following factors:
- If you’re not sure what you’re doing but believe you’ll figure it out. Despite the fact that programs like Quicken and Quickbooks are supposed to be user-friendly, they can be difficult to understand for non-professionals. The majority of the books we’ve worked on have been for small company owners who couldn’t figure it out and messed it up. Believe us when we say that the majority of the owner’s money is spent cleaning up their own trash. My recommendation is to stay away if you have no idea what a Chart of Accounts is or why and how they are set up.
- Perhaps you’ve taken some accounting classes and know what you’re doing. The main issue is that you are not well-organized. If you’re not sure if you’re an organized person, consider this: Do most of your cash receipts and bank slips wind up on your nightstand after you’ve emptied your pockets during the day? Think about it: if you responded yes, you could be dumping them all on your bookkeeper’s desk.
- If your memory isn’t up to par. If you can’t remember what you had for breakfast this morning, you’ll have trouble remembering how much you paid and to whom two weeks from now when you do it yourself. Let’s face it, if you’re a one-man show with a few staff, you’re definitely already attempting to wear too many hats. You’re not going to be able to do it. Something has to give, and that something will be your memory.
- Between you and the bill, the collector is someone. This is worth it in and of itself, especially if your cash flow is limited, as it is for many small firms. Having a bookkeeper adds credibility to your business, as well as the ability to remain on top of payment deadlines, cash discounts, and vendor contact. Leave the stress behind; you’ve got enough phone calls and staff to encourage.
- Between you and your accountant, there is now someone who understands what your accountant is saying. They have their own language. Bookkeepers are familiar with your accountant’s requirements, how numbers relate to a company income tax return, and the state and federal standards you must follow.
- You are aware of the amount of money in your account. It’s not your online bank balance or the balance on your ATM card from the last time you pulled money out. Your bookkeeper will know which invoices have been paid and which checks have not yet cleared. Your genuine balance is the balance in your bank register. This can save you hundreds of dollars in overdraft fees and help you build confidence with your merchants.
Conclusion:- As you can see, having a bookkeeper is definitely worth your money. You are not required to recruit someone on a full-time basis. Many self-employed bookkeepers anticipate working part-time hours. However, you should have someone come in at the very least to balance the monthly bank accounts and pay certain payments. You’ll want to catch any errors as soon as possible because we all make them. It’s better if you don’t find out until the end of the year when you’re taking your mess to your accountant. They’ll very certainly pass it on to a bookkeeper to straighten out nonetheless and bill you at a higher hourly rate than a bookkeeper would have charged you had you engaged one in the first place.