How do you know when to use a professional bookkeeping service? Many small business owners start out by managing their own books–it cuts expenses, and it helps them stay on top of the inflow and outflow of money. But at some point in time, as the business grows, they recognize the need to turn over the books to someone else. Here are the signs to look for:
- When you start losing track of the inflow and outflow of money: If you can’t remember who owes you money, or you start missing invoice payment deadlines, that’s a sign that the bookkeeping chore may need to be passed to another.
- When bookkeeping starts eating into your time: When you feel like you should be spending more time on marketing or customer service, but you can’t because you spend your “free” time reconciling transactions, then it’s time for a change.
- When you start growing & expanding: If you are hiring new employees, or expanding product lines or markets, the complexity of the business grows and demands more of your time. That’s when you need to take the books off of your plate and pass them on to another.
- When tax season becomes a headache: If you find yourself scrambling to pull together receipts and records, or worse, missing out on deductions because your books aren’t organized, it’s probably time to hire someone.
Initial Consultation: Your business is unique, so let’s have a conversation to ensure that we thoroughly understand your mission and the financial transactions that you use to build your business.
Routine Review & Analysis: Schedule your next appointment, and let’s review your income & expenses for the most recent period ( monthly / quarterly / yearly ) and analyze what the numbers are telling us.