10 Stressful Things a Bookkeeper will help you avoid
By Wendy Tate, Dec 12 2016 02:00AM
Following on from my last post where I discussed the five main reasons SME's give for not using a Bookkeeper, I would like to give you 10 good reasons to use one.
NOT using a bookkeeper can create nasty problems, which, if left unchecked, can cause major stress for the business owner and employees alike.
Here are ten examples:
1. Government and payroll filings get done late, incorrectly, or *shudder* not at all.
2. Invoices don't get created and sent to customers on time, impacting business cash flow.
3. Outstanding invoices don't get tracked and followed up on.
4. Bills are paid late, incurring late fees and ill-will among suppliers.
5. Cash and inventory goes missing.
6. Messy internal processes hamper growth.
7. The lack of current or accurate financial information makes it tough to make sound decisions.
8. It's stressful not knowing how much cash is available.
9. It's SUPER stressful if cash is tight.
10. Doing the books yourself eats into family time and may cause friction (and more stress).
All of this takes away your time, energy and peace of mind, not to mention how badly it affects your business's financial results. There is also the matter of increased Accountancy fees as your Accountant has to put everything right before they are able to compile your year-end figures.
Most importantly of all it keeps you from your REAL job which is to maximize your business's value for you and your family.