There are so many reasons that turning over control of your bookkeeping to someone else can be a daunting task. You know your business inside and out, and it will just be too much trouble to get someone else up to speed. The books are the brains of your business, and you don’t want to trust anyone else with that valuable resource.
I get it. I get it more than you can imagine.
When I started my first business, I was taking over someone else’s retail store, and I inherited her bookkeeper. I kept her on because I didn’t know what I was doing, and she just took care of everything, leaving me time to get up to speed on running a retail store. She moved out of town at about the same time that the recession hit, and since I had been slowly getting up to speed on how she managed the books, I was able to take over and save myself some money. After that, I never let go.
The thing is, I love numbers, and I loved managing the books. I love digging into sell through reports and cash flow analysis, or setting up a crazy complicated open-to-buy report. I love the feeling of clicking “reconcile” in my Quickbooks file and knowing that all of my accounts are perfectly up to date and reconciled.
In hindsight, I was probably spending too much time managing my books. The more time I spent with my head in my Quickbooks file, the less time I was designing new products or interacting with customers in my store. If managing the bookkeeping for your business isn’t something that sparks a fire in your heart, you should consider hiring a professional bookkeeper.
Focus on Your Business, Not Your Books
Your business is so much more than a Quickbooks file full of numbers. You need to manage customer and client relationships, product development, marketing, sales, social media, staffing, and everything else that makes your business work. A trusted bookkeeper will keep things running behind the scenes so that you can focus on what makes your business work.
Maintain Cash Flow
Because you are so busy, you may not realize that there are outstanding payments from your client base. Any late payments here could infringe upon the cash flow you need to keep your business humming along. Your bookkeeper will stay on top of this and send out reminders to make sure your cash flow remains optimal.
Make Sure Everything is Paid on Time
As a business owner, you have a lot of bills flying at you, and it can get overwhelming. A professional bookkeeper will make sure that everyone gets paid on time, keeping your credit and vendor relationships tip-top and making sure your employees get paid whether you are in town to write checks or not. Go ahead, enjoy that well-earned vacation without worrying about when payroll or rent is due.
I know first hand how hard it can be to let go of an important part of your business. But take a moment to think of all the things you could do for your business with the time you save by hiring someone to manage your books. You could spend more time training your staff, interacting with customers, marketing your business, and planning for future growth - activities that all have a measurable impact on your business. Consider hiring a professional bookkeeper to help you take back your time.
I would love to work with you, visit my website for more information on what help I can offer.