Bootstrapping becomes a way of life for entrepreneurs. You start out doing the marketing, sales, production, and even the accounting yourself out of necessity. But the goal is to grow your business large enough that you can hire specialized personnel to serve these needs so you can focus on the areas you enjoy and bring the most value. Take a look at these 5 signs that you’re ready for a bookkeeper:
- You’re shifting urgent work to the side in order to close your books
a. Accounting is an endless task by nature. If the volume of your transactions is so great that you are taking time away from urgent tasks in order to get your daily, weekly, or monthly bookkeeping done, it’s time to ask for help.
- You’re spending hours troubleshooting accounting problems
a. Professional bookkeepers live and breathe accounting. Let someone who knows your software and has experience with all kinds of issues troubleshoot for you. It will cost you less in the long run because stellar accountants are quick and efficient.
- You have more than one entity
a. As soon as you add a second company to the mix, things will get complicated. Especially if the two entities do business with each other or share vendors and customers. This is a job for an organized process oriented accountant who can keep your books clean.
- You’re losing sleep over your accounting
a. Don’t stay late at the office to finish your invoices or stress over how to figure out why your bank reconciliation is off. That is valuable time and energy that should be focused on growing your business and serving your customers. A professional can get these tasks done reliably and on time.
- You’re struggling to answer payment questions from vendors or customers
a. Getting stuck in the details? Great accountants know the ins and outs of your business and can quickly access vital transaction detail using the accounting software. This is a great task to outsource.
Remember, your time is valuable! Focus it on the tasks that you enjoy and add the most value to your business and hand off the rest.
To find out more about adding a bookkeeper to your team, fill out the form below: