Top 5 signs it’s time to get a bookkeeper
If you’re starting to run out of hair from tearing it all out over your business figures, it’s probably time to get a bookkeeper. If hyperbole isn’t your thing and you’d like some more real-world examples of signs it’s time for you to bring a bookkeeper into your business operations, here’s our top 5:
Signs it’s time to get a bookkeeper:
#1 The catchup game
The feeling of constantly playing catch-up with your books is certainly an unsettling one. That nagging sensation that follows you day in, day out that you *should* be getting on top of your books, is pretty common for small business owners. But there are so many other jobs to do, so many other demands on your time. And if diving headlong into your books isn’t your idea of a fun Friday night, chances are you’ll put off tending to them until you absolutely have to. And the nagging feeling continues…
If you’re tired of the nagging feeling, it’s probably time to get a bookkeeper.
#2 Your business is suffering from your absence
If you’re missing vital time in the money-making areas of your business because your head is stuck in the facts and figures, it’s probably time to outsource. You are the brains and beating heart of the operation, and you’re needed in the core functions of your business if you want it to grow.
If the time it takes to complete your business paperwork is keeping you from driving your business forward, it’s time to get a bookkeeper.
#3 Your cashflow is unpredictable
We all know that cashflow is king in business, but what does yours look like? If you’re not making time to invoice clients regularly, or manage your bill payments, you’re probably going to need some help. Poor cashflow means you’ll struggle to make business decisions like ‘can I afford that’ confidently, which means you run the risk of stagnating, even diminishing this fabulous creation of yours.
If you’re seeking stable, predictable cashflow that happens with ease, it’s likely time to get a bookkeeper.
#4 Confidence in your record-keeping is wobbly
We both know you’re doing your absolute best when it comes to tending to your business figures. But with every distraction, every ‘other thing’ that demands your attention and pulls you away from the task at hand you run the risk of making errors that could have costly consequences. Maybe it’s even happened before – you made an honest, but avoidable mistake that hurt your back pocket?
If you want to ensure your bookkeeping is accurate and compliant, it’s time to get a bookkeeper involved.
#5 Your accountant is doing your bookkeeping
So, you’ve avoided your books long enough that tax or BAS time has come around again and your figures are in a bit of a mess. Your accountant needs the work done to be able to submit your records, so does the bookkeeping work themselves… At their accountant rates… If you were wondering, accountants’ and bookkeepers’ fees are, how should I say this, not equivalent. Getting your accountant to do your books is like asking your high-priced lawyer to do a bit of filing – they’re totally capable, but it’s not a great use of anybody’s resources.
If your accountant ends up doing your bookkeeping some, if not all the time, it is most definitely time to get a bookkeeper.
Did any of these signs ring true for you? If it’s time to get a bookkeeper for your business, get in touch to discuss how Complete Bookkeeping Concepts can assist you in taking the next steps in your business…
