You need a great bookkeeper.
By working with a great bookkeeper you can improve your quality of life!
I know, I know. That is a big statement but hey, this is real. It does not make sense not to work with a great bookkeeper, and here is why…
Use your time wisely
How much is your time worth?
I don’t know the answer to that question but I do know that your time would be better spent on high value activities.
How much time do you allocate per week or per month to bookkeeping?
For this example let's assume you spend 8 hours a month on bookkeeping tasks and let’s assume that your billable rate is $125 an hour. Now let’s assume that if those 8 hours were available you could use them performing high value activities earning your billable rate. In this example you are spending 8 hours at $125 per hour which equals $1,000 a month on bookkeeping! That is insane.
Time is money. Don’t waste your time or your money. Almost anything that is going to cost you less than what a billable hour can bring in, should be delegated or outsourced.
2. Reduce stress
Does bookkeeping stress you out?
If you are like the vast majority of business owners, bookkeeping is the last thing you want to do. In fact, it is the number one answer from business owners when asked, what is your least favorite business activity? You don’t have to be stressed out by bookkeeping. By hiring a great bookkeeper you not only receive the benefits from using your time wisely but you also reduce the amount of stress you have in your life. Believe it or not some people like to do bookkeeping! I am one of those rare people.
3. Accurate financial statements
What is the difference between a business that has inaccurate financial statements and a business that has no financial statements? The answer is nothing! It is so important to have accurate financial statements. In order to make informed business decisions you must have accurate financial statements. By making informed business decisions you will propel your firm in the right direction to achieve the goals that you would like to accomplish. By working with a great bookkeeper you will have complete, accurate, and up-to-date financial statements.
Those are the 3 reasons why you need a great bookkeeper! But let me tell you, there are WAY more than 3 reasons!
Now, throughout this blog post you probably noticed that I continuously wrote “great bookkeeper”. There are a lot of bookkeepers out there but what you need is a great bookkeeper. A bookkeeper that creates accurate financial statements, is timely, and understands your industry is a great bookkeeper. That leaves me with one word of caution: great solutions, in the hands of an unskilled bookkeeper can actually make things worse. Get real help. Whether from me or another qualified bookkeeper, just make sure your bookkeeper knows the tricks of the bookkeeping trade as they relate specifically to your business.
