As a small business start-up or entrepreneur, it might be first nature to want to have a hand in every aspect of the business and whatever you don’t know will be learned along the way. While that may be true of some areas in a business, accounting is something that even the most ambitious business owners have a hard time managing. As a manager, spending time running a business is essential, but frankly, overseeing operations of the company and figuring out everything you need to know about how your financial standing is often overwhelming. There are plenty of reasons to illustrate why you need to hire a bookkeeper, but here are the three most common:
- It’s too time consuming! As you know, creating a small business and getting it running takes a lot of time. Trying to manage inventory, personnel, marketing and sales is more than enough for any one person – or even a team – so why add in the ever-time-consuming bookkeeping? When you want your business to run more efficiently, you need to hire a bookkeeper.
- Leave it to the experts. Would you rebuild your car engine to save a few dollars? Chances are you wouldn’t – you’d take it to someone who specializes in automobile care. The same is true for accounting! If you try to take it on yourself to save money, but aren’t too sure what you’re doing, you could be putting yourself – and your business – at risk for fines and penalties with the Australian Taxation Office should you make a mistake. The potential fines and charges will far outweigh any attempt to save money!
- Do you really want to do bookkeeping? For the most part, accounting and bookkeeping is not on the list of things many small business owners want to do – in fact, just dealing with numbers and figures is enough to stress out the average person! Hire a bookkeeper and let them do that work for you so there is more time to devote to things you actually want to do, such as market your business or interact with customers.
These are just some reasons you need to hire a bookkeeper – and while it’s understandable that you want to have a hand in every aspect of your business, some things are best delegated to the experts. The time and money you save will be even more valuable than you imagine!
Contact us for a bookkeeping consultation and be sure to visit us on Facebook!
Passionate about small business, cloud technology & travelling the world.