5 Reasons to Hire a Bookkeeper NOW
Is keeping track of your financials the bane of your business? While you might love the work you do, invoicing, paying bills, and reviewing the financials probably aren’t your favorite tasks.
Sometimes your business financials can feel like something to avoid, like COVID or the black plague. However, bookkeeping can mean life or death for your small business. That’s why a good bookkeeper is essential! Plus, they can take on the tasks you don’t have time to do (or want to do), giving you more time in your schedule to focus on what drives you.
Here are five reasons you need to hire a bookkeeper today!
- They keep your finances organized.
A skilled bookkeeper can organize your financials and be able to provide those financials at a moment’s notice—to investors, bankers, your CPA, and most importantly, YOU! If you are ever audited by the IRS, having organized financials will make the process easier and faster.
- You’ll have a handle on cash flow.
Keeping track of the money going in and out of your business will help you know how much money you will have on hand to pay bills or run payroll. You’ll also know when invoices are due and have insight into cash shortfalls.
- They can help you better understand your business.
This is key information for reviewing trends month over month and better understanding your business cycle. The analysis can help you see the performance of your company and anticipate future needs, such as cash flow, sales growth and when to hire.
- You’ll have a better plan for the future.
When you have your financials organized, predictable cash flow, and reports analyzed, you can then start to plan for the future. You’ll be able to answer questions like, What will year end look like? What is my three-year plan? What is my exit strategy? And how do I get there knowing how my company is running today?
- It’s the law.
Business owners are federally required to keep financial records of their business. To avoid issues, it is important to obey the law.
Ready to take charge and make sure your books are in order? Give us a call! We can review your file and let you know where you can make improvements.