5 Ways a Bookkeeper can help save your business!

If any of these apply to you, it’s time you made some changes …

You Are Busy

As a business owner or entrepreneur, your main goal will be company growth. This often means your focus would be aimed towards the more hands on and creative side of running a business such as making sales, having meetings with prospective clients or investors etc.

When in action, you are left with little time for the paperwork and administrative side. Let’s be honest, you probably will tend to put bookkeeping off in preference of the more hands on approach.

Having a bookkeeper means that your financial documents and paperwork, your cash flow, your accounts and other general admin are under control.

That takes one thing off your list!

You Don’t Want to Make Mistakes

(or risk being fined)

Every company will need to keep track of their income and expenditure just in case HMRC come knocking to check everything is in line. There is only so much that electronic accountancy apps or software can do, and it is always smart to have a human pair of eyes checking for any error.

When it comes to tax season, everything gets particularly stressful and it is imperative that staff wages, expenses, write-offs and budgets are recorded accurately and in good time.

Bookkeepers are professionals. They are specialised in keeping accounts and are able to run checks and processes that a software can’t, avoiding the risk of something going wrong for HMRC.

You are the Boss

(or want to be one day)

If you are the one in charge, or hope to be in the future, having a bookkeeper is a great chance to practice delegation.

There is a no way one person can do everything, and why would you want to when there are specialists looking for jobs in exactly the area you need help with?

Expanding your company by using a bookkeeping service is a great way to get experience in working with others while also reducing your work load.

Customers Pay You Late

Unfortunately, with every business, there are always customers who pay late or sometimes not at all. This can seriously affect your cash flow as you cannot make payments out to expand your business if you are not getting money in.

A bookkeeper will keep an eye on invoices, when they are due and if they are overdue.

They can keep track of and chase those up for you so that your business has a smooth cash flow and you don’t have to do it yourself.

You Want to Save Money

Bookkeepers are a great way to improve your finances and are very cost-effective to employ. If you are worried about the cost of employing a bookkeeper, just remember that you can outsource the work instead.

This means that you won’t have to pay a full-time salary and can just pay for the work as and when you need it done.

Furthermore, a bookkeeper can track and see where you are making financial blunders and help to rectify them – saving you money in the long run.

 

Further Reading: Find out why outsourcing bookkeeping is the next best thing since sliced bread.