There are good things that come with being self-employed. You get to choose your own projects, manage your own time and get the freedom that normal employees don’t enjoy.
However, that doesn’t exempt you from dealing with a little more work. Like seeking out your own clients and making sure you don’t run out of transactions and work as you grow.
And then there is keeping track of your own bookkeeping. Filing your taxes and keeping track of expenses are some of the things you do regularly, but how about looking into deductions, following tax laws and collecting payment? You could also miss some of your required duties and lose earning and getting in trouble with the government.
You might be considering hiring a bookkeeper. A bookkeeper that would help lighten your workload and save you some money in the process. Helping you also comply with any tax laws in your area.
Some of the questions that you may be wondering how much it costs and is it worth it?
Is Hiring a Professional Bookkeeper Worth It?
Here are some Tips:
Figure out how much time you spend in bookkeeping duties each month and a record of how many hours it takes you. From phone calls, data entry, handling account receivables and other financial transactions.
For example you have consumed 20 hours, and your hourly rate is worth $50 after expenses. That is $1000 per month.
How much does it cost you then? You might not realize that even doing it yourself costs you extra with some more time that you can use making more money in hunting for transactions and clients.