Do I need a bookkeeper?
Annabel Barnes • 14 October 2021
This is a question which many businesses ask themselves. When people start out in business, they think hiring a bookkeeper is an expense which they can do without, and at first they’re not necessarily wrong. But what happens when you start getting really busy and you can no longer keep on top of your accounts? This is inevitable if your business model is a success.
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Once your accounts start spiralling out of control it can be difficult to get your head around it all. This can mean more time away from your business in order to get your books right. The more transactions you have to reconcile the harder it will be and the longer it will take, that’s why it’s so important to keep on top of your bookkeeping on a weekly/monthly basis. Finding discrepancies as soon as possible means it will take less time to get to the bottom of the problem.
As an entrepreneur you need to be focussing on your clients and the job which you do best, but in order to have a successful business you need to know what your financial position is in order to make important business decisions. That’s why keeping on top of your incomings and outgoings is a pivotal part of your business.
Hiring a bookkeeper will mean that you can focus on your expertise whilst they concentrate on theirs; your accounts. Depending on the size and complexity of your business, you may be pleasantly surprised at the cost. It’s a small investment to make considering the support you will receive with your finances.
A bookkeeper can help you to set achievable business goals and keep you on track to be realistic about your finances. They can also help you to save money, by reviewing your transactions, highlighting anything which you spend money on which isn’t essential or you don’t use enough to warrant the cost. You can even ask them to speak to their vast list of contacts to ensure you are getting the best price possible for all of your business expenses.
At Bluebells Bookkeeping we ensure you have the correct software in place to be as efficient as possible, which makes your bookkeeping more cost effective. We use cloud accounting which means that you have access to your financial position in real time. We keep our clients in the loop with set meetings, whether that be monthly or quarterly, producing reports so that you know what goals you can set and what parts of your business need investing in the most.
If you’re currently doing your own books, how long does it take you? 1-2 days at least I bet! Think about what you could be doing in the time it takes you, how much could you be earning? How much are you losing by concentrating on jobs that don’t produce an income for you?
Paying to outsource the work that you are able to will help to contribute to your business growth. Why not get in touch with us today?
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