The number one reason you need a bookkeeper is because of a lack of time. You only have so many hours in a day. The idea of sitting down after your exhausting day of business to start organizing your paperwork is daunting. |
Data input is time-consuming, and what about reconciling your visa and bank account it can take hours, whereas a bookkeeper would be able to do that in a fraction of the time.
Unlike running your own business where you are familiar and have a strong comprehension of what you are doing, bookkeeping is complicated, and your lack of knowledge only adds to the frustration.
For all the costs associated with a late filing of your business taxes, penalties, and interest charged on outstanding monies, you could easily afford the skills of a bookkeeper.
If you have a family member who is helping with some of the primary office tasks, have them sort out all the receipts, put explanations on the receipts as well, this will help with the coding or allocating of the expense.
Every time your bookkeeper needs to touch a piece of paper twice, it costs money, so have a basic understanding of how you want your expenses categorized. Consistency is all that is required in bookkeeping, so keep it simple; this is one time when less is better.
Three substantial benefits in hiring a bookkeeper:
• Save 30-50% on your accounting expenses which will create more revenue
• Eliminate staffing problems as your business grows, and your need for a bookkeeper intensifies.
• No training required, and your bookkeeper is flexible with their working hours, so you are not paying for downtime.
Look for signs within your business to determine whether it is time to hire the services of a bookkeeping firm. For instance, you have a lot of invoices that need to be generated each month, or you do not have enough time to follow-up on your unpaid bills, and of course, there are the monthly responsibilities around payroll.
Bookkeepers, though experienced, do not take the responsibility away from you on how your business is doing. You need to understand your expenses and revenues.
Your bookkeeper is there to reduce the time spent on managing your record-keeping and bring peace of mind by providing monthly assistance so that you can feel confident, secure, and in control of your business.
Laliacpa, the best firm for Bookkeeping in Mississauga, Ontario, Canada, provides our valuable team of veteran accountants, who work as an essential back-office to your business. We deliver virtual accounting and bookkeeping services cost-effectively within a specific time frame. Call us at 1-647-532-1413 for a free consultation.
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