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Writer's pictureAmanda Desrosiers

4 Benefits of Hiring a Bookkeeper for your Small Business


Are you a business owner looking to take control of your business’ financial future?

Many entrepreneurs wear all of the hats in the early stages of their business, but there comes a point when you really do need a hand. Luckily, there are many tasks that can be outsourced to a professional, and it’s much more cost-effective than hiring staff. A bookkeeper is one of the first professionals that you’ll want to engage to help push your business to the next level.

Good bookkeeping is not only vital to the success of every business, it’s also one of the tasks that entrepreneurs like the least. While you may enjoy reading the month end reports, day to day data entry just isn’t the best use of your time.

Here are 4 of the primary benefits of hiring a bookkeeper:

1. Organized Financials

One of the most important benefits of hiring a bookkeeper is to get your accounts in order. Even if you hit the ground running with your new business and have been stuffing receipts and invoices in a shoebox for year-end, there’s a lot to be said about having fully organized business accounts that are maintained year round.

Working with a bookkeeper will force you to get all of your financial ducks in a row… and to keep them there! They’ll help you establish a system to organize all of the receipts, invoices, and slips that come in. Once you have a system in place, your month end will be that much easier, and your year end even more so!

Most importantly, when everything is organized, you’ll benefit from having a clear understanding of your business’ financial health 365 days of the year.

2. Record of Revenue

The goods and services you provide to clients are only profitable if you bill for them. With so much going on in your day, it’s easy to forget to create an invoice, or collect on it. That’s an oversight that you never want to make! While a bookkeeper can’t guarantee that you’ll profit on every hour of your day, they can assist with billing to make it easier for you to earn your revenue.

With your bookkeeper’s assistance, consider implementing a system that’s convenient for you to use on a daily basis, that’s also easy to share. This will enable your bookkeeper to be able to help track which invoices are outstanding at month end, and which ones have cleared the bank. Collecting on overdue invoices is a great way to boost cash flow.

3. Save Money

Sure, you may have an added expense by hiring a bookkeeper, but just think of all the money you can save by having your books up to date. Your bookkeeper can give you monthly reports that will help you gain insight over the movement of money in your business. Current and accurate reports can provide a clear bird’s eye view of operations with the option to drill down on numbers.

If for some reason you have an over expenditure, your bookkeeper will help you to catch it more quickly. Or, if a transaction goes through your bank account that isn’t supported by a receipt, your bookkeeper can help to flag it so that you’ll be able to investigate it in a timely manner, while there’s still a chance of recovering it.

Having the expertise of a bookkeeper will help you better understand which items in your day to day spending for the business are valid expenses. Once you know that you can expense something, you’re more likely to save receipts which will come in handy at year end.

4. Stress-Free Tax Season

Wouldn’t it be incredible to have a stress-free tax season? When you work with a bookkeeper, there’s no need to worry whether or not something can be expensed. A good bookkeeper will have a strong understanding of business expenses and will be able to direct you about best practices throughout the year. Also, since your receipts will be organized, in the event of an audit, there really won’t be much to worry about. Proper record keeping means that you’ll have back ups for all of the revenue and expenses you’ve claimed.

Though many bookkeepers leave the filing to a professional accountant, they do a lot of the prep work to ensure that you’re ready come tax season with organized files.

It’s a Wise Investment Time is money. This is true no matter what kind of business you’re running, so you’ll want to ensure that you’re making the best use of your work day every day.

When you hire a bookkeeper, you’re making an investment. You’re entrusting a crucial task—your financial management—to a trained professional, and you’re freeing up your time to do more important things. That includes growing your business!

Not all bookkeepers are created equal, however when you find a good one, don’t let them go! The expertise they offer is invaluable to the financial sustainability of your business. If you’re still searching for the right professional to work with, get in touch with us at A&T Desrosiers Services and we can discuss the best options with you.

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