Let bookkeepers do what they do best!

30 Apr 2021

Let bookkeepers do what they do best…

..so you can concentrate on doing more revenue-generating activities instead!

 

When you run a business, you’re responsible for so many tasks and have so much to do!

One minute you’re happily working on your sales, and the next you’re landed with a ton of paperwork, figures and government deadlines (not to mention all the receipts!).

It may be too early to think about employing someone to help you, or your employees are all dealing with their own specific workloads too. So, the options are you can slog it out on your own, or you can outsource.

In this blog, we’ll be looking at the reasons why you should outsource your bookkeeping – and how that can benefit your business and your work-life balance!

 

Bookkeepers save you from being overworked.
Let us be the first to tell you that there is no award for most exhausted business owner! Even with good time management and excellent staff, there are never enough hours in the day to get everything done. So, if you try to burn the candle at both ends, you’re going to end up burning out and wondering why on earth you started your own business in the first place! At this point, it’s time to decide what you’re going to outsource, and when! After all, tired business owners make more mistakes, poorer decisions and are far less productive.

 

Bookkeepers can do more with your data.
Whilst some business owners choose to continue to handle the bookkeeping themselves, most soon realise that it’s one of the easiest aspects to outsource, especially when a bookkeeper can often do it much more efficiently! Complete bookkeeping is an essential part of any business’s survival, but professional bookkeeping is what really helps your business to thrive.

 

Bookkeepers give you confidence in your financial knowledge and decisions.
A professional bookkeeper will not only complete all your legal obligations and keep you compliant, but they’ll also offer real time insight into your business finances. They can see where your money is going, what products or services are most profitable, what your cash flow is looking like and everything in between. They can tell you everything you need to know about your finances, and when it comes to making the right decisions, this sort of knowledge really is power. It’s also beneficial that they are not emotionally attached to the business, and yet have a wealth of experience in interpreting the data collected in your books. This allows them to be able to identify warning signs and opportunities that otherwise might have been overlooked.

 

Bookkeepers are complementary to your accountant.
Bookkeepers are trained to record information in the way that your accountant will need it. So, while doing it yourself may seem like a money saving idea, it could actually end up costing you more when mistakes need correcting or when you suddenly realise that you’re 5 months behind and your annual return is due tomorrow! It’s also worth remembering that if you think you might want to sell your business in the future, having complete and correctly turned-out records is going to be essential.

 

Bookkeepers can help with all kinds of financial services.
As well as day to day financial recording, a good bookkeeper will save you even more time by helping with additional services such as invoicing, chasing payments, payroll and financial software training if you’d like them to. In short, they take a huge amount of work off your hands and allow you to spend more time creating sales and building your brilliant company. The services provided by bookkeepers are highly valuable and very cost-effective, as their knowledge about all things financial can often help you save money in your business too!

 

Don’t wait for the work to pile up!
It’s never too late to hire a bookkeeper, but ideally you should find one as soon after starting your business as possible. The longer you wait, the more there will be to catch up with and the more likely it will be that you’ve forgotten what each transaction relates to or missed important deadlines.

 

Talk to a bookkeeper to find out more today.
If you want to get the most out of your business and operate with clarity and confidence, find a bookkeeper that’s right for you. Get them started on your books and enjoy a smoother, less stressful and much more profitable business. Just contact us to find out more.