Most small-business owners wear many hats, especially at the beginning. However, you can only maintain that for so long once your business starts to grow.
There’s always a point in a business owner’s career when hiring a bookkeeper becomes less of a luxury and more of a necessity. Here are some signs you’ve hit that point yourself.
- You Don’t Have Enough Hours in the Day
In the early days of your business, you might not have a high volume of work—so you might have time to dedicate to bookkeeping tasks. But as your business grows, so does your workload.
If you’re finding yourself swamped with work in all the best ways, you may not have the time to do everything yourself anymore. Plus, it’s just not cost-effective. Doing your own bookkeeping is not work you can bill to a client.
Save money and save time by hiring a professional.
- It’s Getting Too Complicated
In the beginning, managing your finances may be simple enough to handle yourself. But as your business grows, your finances will likely become more complex—and your bookkeeping tasks harder to handle.
If you find yourself getting frustrated with complex bookkeeping tasks that are beyond your expertise, it may be time to hire a pro.
- The Risks Are Increasing
Have you been hit with a big tax bill, financial fines or other penalties because you did your bookkeeping wrong? Have you had to hire a lawyer to straighten everything out?
The more complex your business’s finances become, the higher risk you have of making a mistake that could cost you money and time. If this has already happened to you, it may be time to save yourself the expense, stress, and headache by hiring a professional.
- You Don’t Enjoy The Work
Some people really like working with numbers. Others would rather do almost anything else than crunch numbers.
If you’re in the latter category, there’s no reason to suffer through a task you dislike. A professional bookkeeper can help you manage your finances, freeing up more time for you to do the work you actually like doing.
- Your Bookkeeping Records Could Use Some Updating
Bookkeeping is a continuous task. In order for the picture of your finances to be accurate, it has to stay current and updated.
When your books are up to date and balanced, you have a clear picture of the state of your business in real time. That’s essential for making all the important business decisions you need to make.
If your books are always behind, your financial picture is never clear. It may be time to hire a professional.
- You’ve Hit a Financial Plateau
Do you feel like you’ve been spinning your wheels with your business—and you never get beyond a certain financial point?
If so, a professional bookkeeper may be exactly what you need to get over that plateau. A bookkeeper can help you develop a clear picture of where all your money is going, where it’s coming from, and identify opportunities to improve your bottom line.
Work With A Highly Qualified San Rafael Bookkeeper
If you have questions about hiring a bookkeeper, we have answers. Get in touch for a free consultation today.
- Secure Act 2.0: Rethinking Your Retirement - March 6, 2023
- Making of a Successful Team Environment - February 27, 2023
- Startups, New Companies & Business Restructuring - February 21, 2023
We go beyond Wealth Management & accounting
We proudly provide all the in-person and virtual services you need to take your business and your life to the next level without stress, overwhelm, or outlandish fees.