Does doing your own business bookkeeping eat up more of your time and energy than you can afford to lose? Are your company's books never current? Is your cash flow unpredictable or your profits failing to rise despite increasing sales?
If any of these situations sound familiar to your own experience, you may benefit from hiring a bookkeeper. A bookkeeper performs several duties, most notably:
- Tracking all your business's sales and purchases, payments, and receipts
- Helping review, maintain and improve your company's internal processes
- Recording, organizing and collating your business's day-to-day financial information and stores it all in general ledgers
- Maintaining your business's financial records in such a way as to make it easy for your accountant to access come tax time
With that in mind, let's examine the many benefits a bookkeeper could provide to you and your business.
10 Benefits of a Bookkeeper for Your Business
- Keeps you out of areas where you lack sufficient knowledge and understanding.
Unless you, too, have been trained and certified in topics like accounts receivable, accounts payable, and taxes, it's best for your business if you leave that to the experts.
- Gives you an escape from some of the more tedious elements of your operation.
Many routine aspects of running a business from day to day do not require your constant supervision or direct attention. This is a good thing, too, because you probably don't enjoy those monotonous chores anyway, or you might, perhaps, be a bookkeeper yourself instead of running the business you do. Meanwhile, a certified bookkeeper likely really enjoys those very same duties, so why not have someone who enjoys that sort of work do it for you?
- It allows you to concentrate on your company's fundamental needs.
You obviously run your business because you have specific skills, interests, and expertise that suits that industry well. Those are the areas where you should be focusing your attention, then, for the best of your business.
- Provides you with a new, informed perspective on your company's true condition.
An accountant can give you insights into your business and suggestions for its current choices and future direction that you might not otherwise come up with yourself.
- Handles conflict-of-interest issues regarding business partners.
A trusted and reliable third-party with intimate knowledge of your business and finance can help you and your business partners resolve disputes about how to access and spend its money.
- Lowers the overall cost of your company's monetary obligations.
A trained bookkeeper can help you find cost-savings you didn't even realize were possible.
- Maintains cash flow.
A bookkeeper can help ensure receivables and payables occur in a manner that ensures your business always has cash-on-hand for when it's needed.
- Ensures all your bills are paid on time.
While you're running around focusing on all the things you need to do to keep your business growing, your bookkeeper can make sure you meet all the financial deadlines you need to meet to keep it afloat in the meantime.
- Ensures your business taxes are all filed correctly.
Even if your bookkeeper isn't an accountant, they know what needs to be done and how it needs to be done for your accountant to succeed in their role.
- It helps you maintain a healthy work-life balance
Put all of this together, and you are more easily able to achieve that dream of your work serving your life, instead of the other way around.
How to Find the Right Bookkeeper for You
If you're looking for the best bookkeeping services in Charlotte and the surrounding area, you want to find a bookkeeper with availability, the ability to communicate, and the highest standards of security, privacy, and financial expertise.
For a bookkeeper and tax advisor in Charlotte with all these qualities and more, look no further than Scott Boyar CPA. As both a licensed bookkeeper and tax accountant in Southend and the Charlotte area can seek out, Scott Boyar can handle all your business's bookkeeping and tax accounting needs.