1. You are strapped for time
Time is a resource we cannot renew or stockpile. As a small business owner there is a premium on your time, and at some point it doesn’t make sense to spend hours on bookkeeping when those hours would be better spent managing customer relationships or making new sales.
2. You’re missing things
Not everyone is blessed with the meticulous attention to detail and mathematical gifts it takes to be an efficient bookkeeper. Do you know how to properly document and categorize each and every transaction to maximize your tax deductions and optimize cash flow?
Are you incurring late fees or interest because you can’t stay on top of all the finances each day? It might be time for a professional bookkeeping service who can.
3. You’re behind
How up-to-date are your books? If you are using old data, you don’t have an accurate picture of revenue or future cash flow. You’re not equipped to make the smartest decisions for your business.
4. Taxes are torturous
Properly kept books should actually make tax season a breeze for both you and your accountant/bookkeeper. If tax season means painful, constant phone calls and emails between you and your accountant/bookkeeper, it’s likely that your books have not been kept clean during the year.
Similarly, many small businesses find that they missed out on tax benefits because they weren’t aware of the breaks and documentation they require. A bookkeeper with boots on the ground will be uniquely prepared to help you take advantage of taxes year-round and make filing your taxes much more smooth.
5. Profits aren’t increasing
When you aren’t seeing the gains you’d like, it’s tempting to just focus on working harder and selling more. But perhaps the numbers are telling a different story?
Bookkeepers can help you keep your finger on the pulse of your business by helping you decrease operating expenses and optimize cash flow, as well as identifying trends and problems.