It can be hard to justify hiring a bookkeeper, especially when your cash is low. What you might not know is that it can be more expensive to hold off with getting a bookkeeper. This is especially true if you are months off or your books are a mess. Let’s explore exactly why it’s important to hire a bookkeeper as soon as possible.
One misstep in your books can lead to months and months of problems, some that only a bookkeeper can figure out. The longer you wait, the more work there will be to clean-up, which can get expensive. If you find yourself holding off on doing your bookkeeping, it may be time to find a bookkeeper to do it for you.
Getting behind on your bookkeeping can only hold you back. If you find that your business is in need of a loan, the first thing the bank asks for is your financial statements. If you haven’t been entering your transactions or your books are a mess, this can slow down the process. It could also stop you from getting the financing you need. Books that are behind can also make budgeting for the slower months harder. If you don’t know how your business is doing, how can you plan for the future?
Now, if you’re concerned about the fees a bookkeeper will charge you, know that they are 100% tax deductible. Make sure the bookkeeper offers free introductory consultations. If you know that you have a large cleanup, ask if they offer payment plans. If they charge hourly, ask if it is possible to put a cap on the amount they charge you during the month. If your business has a smaller work load, some bookkeepers may offer quarterly plans. Here are some more tips on how to afford a bookkeeper.
It is very important to hire a bookkeeper as soon as you can. This is both to avoid the headache of a cleanup and to protect your books from problems. Bookkeepers can also help if you have any questions about how your business is doing. If you need help finding a reputable bookkeeper, check out this article for more tips on how to find one.
