Starting a business is daunting. The doubt that you’ve got a good idea, the late nights planning it out, the website you created that you keep changing.
Then you finally launch it, and it’s exhilarating: the first client, the first invoice, the first payment, the next client, the ups and the downs. The ultimate responsibility lays with you and how much you want to succeed.
But sorting out your financials is a nightmare. We all want to know whether we’re making money, but the sheer amount of record keeping and account coding is enough to drive you insane. How do you know what to keep? How do you know what counts as expenses? The learning curve is steep and the time it will take is more than you can spare.
Great news: you don’t have to spend time on your books because there are people out there whose work it is to sort out your books. They’re called bookkeepers, and here are three reasons to get one as soon as you can:
They will save you time
How long has it been since you’ve gone through all your receipts? Do you even know where all your receipts are?
When the day comes that you need to sort out that mess, you’ll need a lot of time and a good bookkeeping software program. But which one? And should you have separate codes for fees? How should you classify that workshop you attended, or the prototype you ordered?
A bookkeeper knows exactly how to code every cent you earn and spend, so that you can see in real-time how well your financials are doing.
They will save you money
When you hand your accountant a mess of receipts at the end of your financial period, they will charge you to sort that out, get it in the system, and then do your tax return. And they will charge a lot, because it’s a lot of work to do.
Bookkeepers keep your accounts in order so that by the time your accountant sees it, all they have to do is the taxation side. So instead of paying an accountant a ridiculous amount to paw through receipts, spread that cost out over the year for a bookkeeper and you will come out better for it financially, in so many ways.
They want you to succeed
Good bookkeepers will give you good books. Great bookkeepers celebrate how good books give you time to spend on your business. They know that when you’re focussed on your business instead of your books, you have the time to build the business you want.
So if you’re ready to spend more time on business, get a bookkeeper. Better yet, call us.