Why You Should Hire a Bookkeeper For Your Business
When you first started your business, you probably handled all the bookkeeping and accounting tasks by yourself, and it was manageable for you. However, as your business grows, and the number of transactions follow, bookkeeping can become a cumbersome task. With more workers and more clients, the streams of income and expenses will start to roll in. As your business expands, it’s imperative that you hire a financial specialist to handle all your accounting records. Here are some reasons why:
1. We lift some of your responsibilities off from your back
It’s common knowledge that as a business grows, the operational responsibilities also increase. Handling every function of the job by yourself will no longer be a reasonable expectation. Having to divide your attention between so many things all at once can be exhausting, and it is not good for your business. Mistakes and errors are more likely to be made when you’re unfocused and tired. And, when it comes to finances and accounting, even a slight mistake can cost you a lot of money.
The consequences of incomplete accounting records can be disastrous for your business. Hiring a professional bookkeeper will relieve you of the accounting responsibilities, allowing you more time to attend to other, equally important duties. Moreover, engaging a professional will allow you to be more focused on your business, and you will function a lot more efficiently as an owner.
2. We are professional
You can trust that your finances will be managed by a professional when you hire a bookkeeper. Let’s face it - professional bookkeepers are a lot more qualified than you are to handle your financial records! With a professional, you can ensure that your accounting records will be accurate, well-organized, and well-kept.
You won’t have to worry about paying for costly mistakes and errors that could occur if you’re doing your own bookkeeping. With a professional bookkeeper, there should be no mistakes, thus preventing you from having to spend time and money to fix bookkeeping errors. You can rest assured that your bookkeeper can handle payroll, tax deductions, and insurance management, as well as other bill payments.
3. We give you options
When running a small business, the best course of action can take is to outsource bookkeeping operations. You won’t have to deal with the tedious process of sourcing, hiring, and training candidates. Note: if your company is relatively small, and your total annual revenues don’t exceed a million dollars, you should consider hiring a freelance bookkeeper instead of outsourcing from an accounting firm. This will save you a lot of money and the service will be just as great.
4. We are invaluable during tax season
Everyone knows how stressful and time-consuming tax season can be. You will need an accounting professional on board to manage the preparation process. Just by having a bookkeeper on board, you can save yourself a lot of time, money, and effort. Your bookkeeper has been trained to know everything there is to know about tax codes and guidelines; they are the experts. They know how a business works, and they have access to all the information necessary to complete tax filings. With a professional bookkeeper by your side, you can be assured that your taxes are being taken care of properly.
Totally Booked offers bookkeeping by QuickBooks Certified ProAdvisors based out of NYC. Get in touch today to see how we can help!