There are several reasons why business owners think they don’t need to hire a bookkeeper. Whether it’s because you don’t think your business could support the additional expense or because you think you can do the books by yourself, here are a few factors to consider:
Not hiring a bookkeeper can be a costly mistake. Many business owners end up spending more in time and money than they save when doing the books themselves.
Factor #1: Cost
Most businesses do not need a full-time bookkeeper, but instead of trying to do it yourself, outsourcing your bookkeeping pays off. By outsourcing bookkeeping, you can save 30% to 50% more than hiring a full-time employee.
Factor #2: Time
How much do you value your time? Most business owners who do their own books only do it because they think they can’t afford a real bookkeeper, but little do they know they are wasting more of their money and time by doing it themselves when they would be better off using that time to run their company. If bookkeeping is not your area of expertise, don’t put your business’s finances at risk by taking what you think is the more cost effective option. A simple mistake could cost you thousands of dollars,
Factor #3: Organization
Using the services of a bookkeeper will keep your business finances organized. You will no longer need to scramble to get your books in order for tax season. By having your books properly prepared, you’ll save lots of time and money. You will take less time digging for the necessary paperwork, and your tax preparer won’t have to charge additional fees to shift through the chaos.
Factor #4: Experience
How much do you know about accounting? Our bookkeeper is skilled and well-versed in keeping books. With over fifty years of experience, our team will ensure that your checks are written out correctly, and your income, expenses, assets, and liabilities are properly accounted for. Also, we will help you save money by identifying areas of potential tax credits as well as recommending profitable business strategies.
For more information on our bookkeeping services, call our office at 410-453-5500.