Bookkeeping is an essential part of running a business. In its most basic form, bookkeeping is keeping track of both the money coming into the business (sales) and the money leaving the business (expenses). When you take your sales minus your expenses, you get profit. Pretty easy right?
Tracking sales, expenses, loans, credit cards, assets, contributions, distributions, equity, sales tax, payroll, etc.… takes a lot of time and skill.
Don’t get me wrong. I am not saying that you cannot do all of this. You probably could if you had the passion for numbers and the time to gain the needed expertise. But… you have your own business to run!
Do you have a passion for crunching numbers and creating reports?
Do you have the time to become an expert in bookkeeping? How QuickBooks works?
Wouldn’t you be better off concentrating you time on your passion? On your business? On your family?
How many hats are you currently wearing in your business? Sales. Marketing. Human Resources. Estimating. Labor. Dispatching. The list goes on.
But I am a great multitasker! I heard a great quote the other day but I cannot remember who said it…
“Multitasking is the ability to screw everything up simultaneously.”
Your business needs your full attention. If you want to grow that business, you need to concentrate on those things that will help you grow. You doing everything by yourself will not help you grow. By hiring a bookkeeper, you are not giving up any control. The bookkeeper will help you stay up to date and organized while giving you another set of eyes to make sure your business is winning.
If you think you cannot afford a bookkeeper or are trying to save money by doing it all yourself, ask yourself these questions…
- How much is your time worth to your business?
- How much time do you actually spend on bookkeeping and accounting needs?
- What else could you be doing to grow your business if your bookkeeping was taken care of?
