There are Signs you should look out for when hiring a bookkeeper to make your life easier. You need to determine if you actually need one by checking out these things before hiring one.
Are Your Books Up To Date?
You might have some more pressing matters to take care of, and when this happens, it is easy to forget if you do your books yourself. Without an updated books, you can’t track how much expense you are incurring or how much profit you are taking and your overall cash flow. These can cost a lot of losses in the long run!
Is Your Accountant Is Doing Your Bookkeeping?
Sometimes, you just put your bookkeeping on the side and wait for Tax Season. Because you feel like it is your accountants responsibility and hand this off to them.
But this will result on a lot of delayed work and more expense. For one, your accountant will not be able to provide you a monthly record or create them out of air if you didn’t provide it. Without these records, you and your accountant will never know how your business finances stand.
Also, most accountant charge a higher hourly rate than bookkeepers, it might get expensive for you. Since you don’t have your correct record in and make your books up to date, your accountant will put up many hours and expect a lot of back-and-forth with you to fill in the data that is not available. It might become frustrating for your and might have difficulty looking for proof of your purchases throughout the year.
Your time is precious, are you spending a lot of them on Bookkeeping?
Its good if you have prior experience with bookkeeping as you may save a lot of time, but still you’ll probably spend more time than you should trying to get it right. Some even have a bookkeeping system in place and will do a lot of consulting and researching which takes effort and money.
Remember, this time spent is a potential time you can use in what you love most and getting more clients and customers.
Missing Out on Tax Write-offs?
Startups, Small Business Owners and Self-Employed workers miss out on Tax Write-offs most of the time, as they may not know about them or overlook them when they have so many things to changes around. You could have saved a lot of money by not missing it and more spending money in your pocket.
A good bookkeeper will always take advantage of any and all available deductions. As they know what kind of expense qualify and they will file it accordingly. The experience they have learned through the years will help you avoid missing all the cracks and valleys to help you reduce your taxable income.
So are you Ready? Let’s Make Your Life Easier
If you feel the need and can afford a bookkeeper, you will always benefit from a professional bookkeepers help. They will help you see a better overview of your finances, take advantage of any Tax Write-offs and save a lot of your time.
Do not rush, take your time and check your needs before committing to a bookkeeper and make sure you tell the potential bookkeeper your concerns. Ask for options and have the information so you will get the best fit for a bookkeeper your need and for the budget you have.
Here at KDF Bookkeeping, we want to help you save more money and make your business more profitable. We also want you to have an informed decision when doing so. Here’s to making your life a lot easier!