Most business owners believe the costs to hire an outside bookkeeper is too much. Have you really asked yourself some of the advantages of hiring someone else to keep your records for your business? There are many reasons that a business owner may want to keep all the records themselves, or the most common, have their spouse do it. In some instances this is fine, but sometimes it is best to distance yourself a little bit from this task. Allowing someone else to do the “behind the scenes” work can have huge benefits. An outside objective mind is always a nice asset.
The biggest benefit would simply be allowing you to concentrate on your business. You will not have to cut your day short just to pay bills or do payroll. These tasks alone can be very time consuming. When you add up the time for these tasks, you can easily lose days of work time a month. This time could easily have been spent concentrating on your business.
Bookkeepers don’t just pay bills and do your payroll either. Contractors and landscapers can really use some of the benefits of a bookkeeper. I have the ability to make up detailed invoices, detailed job estimates and process job payments, just to name a few. How nice would it be after a hot long day at work, to not have to write up the estimates for a new job and send them or deliver them back to the customer? You can email or call me the info and I can type it up and email it directly to the customer. Time is money.
Another nice advantage of hiring a bookkeeper is income tax time. Proper record keeping throughout the year can really save a lot of time and money at tax time. There is a good chance that someone keeping their own records is missing valuable information that would benefit them on their tax return. Proper bookkeeping really helps to keep your expenses where they belong to allow for proper deductions. Again, this equals more money in your pocket.
Proper use of a bookkeeper can really pay for itself when you factor in the amount of money it can make you or save you throughout the year.