When Should I Hire A Bookkeeper?
Do you have a growing business but don’t have time to take care of all the accounting to the exacting standards that you would like? It might be time to hire a bookkeeper.
One question many small business owners face is when to hire a bookkeeper. You need to keep your books in order, but you aren’t sure you can afford it. Conversely, your time is too valuable to spend on keeping your financials in order. In either case, the accounts get overlooked and that spells trouble for a business of any size.
The benefits of hiring a bookkeeper often outweigh the cost. You can turn your attention to growing your business, and depending on how complicated your finances are and the number of transactions you do each day, that could be a significant amount of time.
A bookkeeper can help you make sure that bills are paid on time, invoices are promptly sent out, company expenses are tracked, and receipts and paperwork are handled properly. Bookkeepers do the day-to-day recording of transactions and keeping the accounts accurate. Some essential duties of a bookkeeper include:
- Reconciling bank statements
- Resolving accounting discrepancies
- Handling accounts payable and accounts receivable
- Processing payroll
- Preparing reports with projections to help you manage your cash flow
- Categorizing expenses throughout the year to make tax season easier
A bookkeeper can help you minimize and catch potentially costly errors. There are many things that could be missed when you are trying to do your own accounting while running a business, from data entry mistakes and lost transactions to mix-ups between personal and business expenses. These mistakes can be avoided with a dedicated person handling the books.
Hiring a bookkeeper can make running your business less stressful and more profitable. At H&H CPAs, we can help your books accurate and organized. Let us help you! Contact us today to learn more.