Your bookkeeper is waiting for you. As a business owner we wear many hats and some of those hats are not in our area of expertise. That’s why I wanted to talk to you today about finding your bookkeeper.
You love the work that you do, but you are not a numbers person. It may seem counter-intuitive to spend money on a bookkeeper when you are totally capable of doing it yourself. If you exchanged the time it takes you to do your own bookkeeping and actually engage with your customers, I think you would cover the cost of hiring a bookkeeper.
Ask yourself this question, do I like doing my bookkeeping? If the answer is NO, then you should consider outsourcing that task. If the answer is YES, but you haven’t updated your financials in 3 or 4 months, then you need to consider outsourcing your bookkeeping. To help you narrow in on why this is a good idea; ask yourself these questions:
- When was the last time I updated my bookkeeping?
- Can I run a report right now and know if you were profitable last month?
- Do you know what it costs you to provide the services that you offer?
- Can you project your income for the next quarter?
In the time it takes you to do your own bookkeeping, how many sales could you have made?
If you can answer these questions, then you don’t need to outsource your bookkeeping. If you can’t answer these questions, then you should find out how to choose the right bookkeeper for your business.
So, you may be asking yourself, what does a bookkeeper really do? That is a really good question! There are several types of bookkeepers. Here is a short list of different types of bookkeepers:
- Traditional Bookkeeper – A person whose job is to keep records of the financial affairs of a business.
- Full Charge Bookkeeper – is responsible for keeping your business financial records, but they are also will also communicate with your CPA (Certified Public Accountant) or tax preparer. A full charge bookkeeper also knows accounting and how to record transactions properly. They may also have an accounting degree.
- Enrolled Agent Bookkeeper – They are keeping your books and they know the tax laws and they can prepare your personal or corporate tax return. They have passed IRS tax exam.
- Certified Public Accountant – is an accountant who has passed the uniform CPA exam and has met state certification requirements.
- Quickbooks ProAdvisor – can also be all of the above plus they use technology to help manage the financials of your business. They can recommend technology that will help create efficiencies in your business. A ProAdvisor may also hold and Accounting degree, have an EA or a CPA certification.
Where do I find a bookkeeper that is right for my business?
- Ask for referrals from fellow business owner.
- Ask for referrals from friends and family.
- In your networking groups.
- In your Facebook business groups.
- Intuit Find A ProAdvisor website. ProAdvisor Website I am listed on the Find A ProAdvisor site.
When you decide to outsource the bookkeeping for your business, you should receive the following benefit:
- Freedom from procrastination and your bookkeeping is up to date.
- Manage your business better by knowing what your numbers are.
- Know the actual margin you are gaining on each service you provide to your customer
- Plan and project your profit for the upcoming quarter.
- Have peace of mind that everything had been done correctly.
Choosing the right bookkeeper for your business will take effort on your part. You will want to have a consultation call with them and ask them all the questions you have on how they work with other businesses like yours. You should feel very comfortable with your bookkeeper.
When I talk with potential clients, I tell them that I have a no judgement zone. I know that it is hard to let someone know your financial situation. You should not be afraid to ask your bookkeeper any questions. I also tell potential clients that our service can grow with your business. You may start out on a basic support package, but as you grow, you may need additional services, coaching and consulting and we can provide that service as well.
Free up your time and go out and find Your bookkeeper. She is waiting for you. Mitchell Consulting may be the perfect bookkeeper for you. If you would like a free consultation with us, just click the link. We would be happy to talk with you.