Keeping up with your books can be tough, especially when you’re trying to manage every other part of your business. So how do you know when it’s time to stop doing it yourself and hire a professional bookkeeper? Here are some signs to help you decide-
Ask yourself these questions before hiring a professional bookkeeper
Are you dedicated?
If you aren’t willing to work CONSISTENTLY then it will be best to hire a professional bookkeeper. Be honest with yourself- do you log into your accounting software and categorize your income/expenses? If you don’t and won’t- OUTSOURCE to a professional bookkeeper.
Are you overwhelmed?
If the idea of using accounting software is overwhelming and you aren’t willing to learn how to use it, OUTSOURCE. It is easy to mess up your financials if you don’t take the time to learn how to use the software. It will take time to do your books right, and if you have no time to spare, OUTSOURCE.
Do you have complicated financials?
Are your financials complicated, for example, extensive assets, inventory, and numerous liabilities- outsource. Your time could be better spent doing other things. If the amount of time it takes you to complete and manage this function takes you away from money-making activities consider hiring a professional bookkeeper.
Hiring a professional bookkeeper may be best for you!
Regardless if you are a DIY bookkeeper or outsource your accounting work, you must be involved. If you go the outsourcing route, ensure you find someone who serves as a collaborative partner in your business. Our rule of thumb is if you haven’t hit six figures…do the work! Don’t give away 7-15% of your revenue! But it requires YOU to do it! Truthfully, it isn’t that complicated for 90% of small businesses- it just requires your time and energy to do it right.
If you do want to outsource, we would love to chat about your financials! Set up an appointment and we will handle the rest! Your success is our success.
Cheers to Profit!
