The life of an entrepreneur/small business owner is hectic! There are current customers to serve, new prospective customers to get and then there is all the stuff in between. The “in-between” stuff is the meat and potatoes of your business like creating your marketing plan, executing your marketing plan, managing your team (even if it’s just you:), and managing your finances.

Wait!

What was the last line about “managing your finances”?

Yes, this is a real business to-do list item and more often than not it is a daunting daily task for many business owners. I recently did some research for this blog post and came across this question:

Do I need to hire a bookkeeper for my business?

It gave me pause for thought.

My first thought was no you don’t NEED to hire a bookkeeper for your business. If you have the time, money, and energy to learn accounting principles and apply them to your specific business model then you don’t need a bookkeeper and could do it yourself.

The problem with that is you now get to add being a bookkeeper to the other growing business hats you already wear. Additionally, then you have to keep going with your training and professional development in bookkeeping accounting to make sure you stay up to date on anything that relates to managing your business finances.

And the list goes on…..if you would rather NOT go down the rabbit hole of being your own bookkeeper then yes you do need a bookkeeper.

Why Do You Need A Bookkeeper For Your Business?

All the stuff I just mentioned above is taken off your plate. Whew! That’s a relief.

A bookkeeper can help you stay tax compliant and out of hot water.
A bookkeeper can help you manage your cash flow which can help you not break out in a panic.
A bookkeeper can help you to know if you are making money or taking your money and throwing it out the window. We can help you to see if there are frivolous expenses that need to be pruned out of your life.
A bookkeeper can help you plan for the future. What are your goals? If it’s to retire by the lake a bookkeeper can help you map out a financial plan a.k.a budget to help you reach your goals.
A bookkeeper can help you figure out how much money to pay yourself and when you can give yourself a raise.
A bookkeeper can help you figure out when it is a good time to start bringing on team members so you can take your foot off the brake.
A bookkeeper can help you stay ready for business opportunities that may come your way like investments, grant opportunities or if you need a loan to purchase capital assets.
A bookkeeper can help you sleep better at night because you are not in charge of managing Quickbooks.
What are your goals for business and your personal life? A bookkeeper can help you to get there.

So are you ready to take the plunge? I hope this post gives you food for thought as you move along your business journey.

Keep IT Sunny~