3 Signs You Need a Bookkeeper

No one knows your business like you do, which is why so many small business owners forego a bookkeeper. But the truth is that understanding your business and your books are two very different things, which is part of the reason why so many small businesses struggle.   Staying on top of your books isn’t the whole battle, but it’s a big part of it. Keep reading for three signs that you need a bookkeeper to help take you and your small business to the next level.    

1. Your Books Are Behind

  The thing with your books is that if you fall behind, it’s very easy to stay behind. Catching up on the books is tedious, time consuming, and tends to spiral out of control. Plus, it means you don’t have an accurate picture of your finances, which can leave you exposed and unable to make sound decisions for your business.   A bookkeeper keeps your books up to date at all times and gives you regular financial statements. You never fall behind and you know exactly what’s going on with your business. Bookkeepers for small businesses are particularly important, because when you have a million things to get done, updating the books will always fall to the bottom of your to-do list.  

2. You’re Missing Out on Tax Deductions

  There’s nothing worse than finding out you could have saved money, but didn’t. And finding out you’ve been missing out on potential tax deductions for years is particularly painful. If you’ve ever rushing to update your books right before tax season, chances are you’re going to miss something.   Bookkeepers know how to properly categorize business expenses from the get-go, making it easier to spot write-offs like mileage and other business expenses. That way, when you hand over your books to your accountant at tax time, the information is organized and clear to make it easier to find tax deductions to save your business money.    

3. Your Cash Flow Is Unpredictable 

  Many small businesses struggle with cash flow. It’s part of the challenges of growing and scaling. Rest assured, you’re not alone: 61% of small businesses around the world struggle with cash flow. If you’ve ever found yourself unable to pay bills on time or meet payroll, you have a cash flow problem and there’s a fix.   A bookkeeper keeps your books up to date and provides cash flow statements so that you have an accurate picture of what’s going on. They also stay on top of your accounts receivables and payables, so that you’re getting paid by clients, paying your bills on time, and know ahead of time if there’s going to be an issue. There are no surprises, which means your business runs smoother and everyone is happy.     The Bottom Line: A Bookkeeper Is an Asset for Your Business   You don’t have to do it all when it comes to your business. A bookkeeper is a cost-effective way to stay on top of your finances and give your business a better chance of succeeding. Not having a bookkeeper can cost you more in the long run and leave you with untold amounts of stress.   Getting a bookkeeping solution in place is easier than you might think. Contact us today and let the experts help get your books up to date and stay that way. You and your business deserve a leg up, and a reliable bookkeeping solution is exactly that.