Nobody started a business because they really wanted to do bookkeeping.
You CAN start a new business.
You CAN do the bookkeeping for said business.
But SHOULD you? I think you know what my answer to this might be.
You didn’t start a business to spend hours coding transactions and reconciling accounts. We can handle that while you spend your time where it matters.
Outsourcing your bookkeeping allows you to focus on other details in your business and still receive accurate, useful data. Having this data allows you to make better decisions and helps you determine which investments are best for your business. See below for why we think bookkeeping is a smart investment in your business, and how it can help you make other smart investments.
Bookkeeping is Necessary
It may come as no surprise to you that we think that bookkeeping is amazing. And if you’ve followed along for any amount of time, you already know that bookkeeping is a necessary part of your business. But I don’t want it to just be a “have to” because it’s a necessity. When something is a have to, it becomes a chore. And when something is a chore, we dread doing it.
Our goal is for you to see the value in bookkeeping, instead of just checking the box. I can tell you this – clients that dive in deep into their numbers, make the effort to understand them, and leverage them get so much more out of our services. If you have the data, why not use it?
Bookkeeping is an addition to your business, not a subtraction
When you make any new investment for your business, it’s easy to look at the cost and think, mmmm I don’t know, $400 a month is a lot, and talk yourself out of it. But what if instead of looking at what is subtracted, you look at the additions:
- The hours you would have spent bookkeeping to spend how you want
- The clarity of knowing exactly how your business is doing
- The confidence to make informed business decisions based on data
- The knowledge of exactly where your money is going and how that impacts your sales
- The plan to tackle debt or forecast future investments
It’s important to look at both sides when making any investment in your business. This gives you an accurate picture and helps you to fully understand what that cost will mean for your business.
Bookkeeping is a piece of the business puzzle
Running a business is like putting together a jigsaw puzzle – it’s super fun, can be discouraging at times, but when you finally put all the pieces together and they fit perfectly, it’s incredibly satisfying.
But what if one of the pieces is missing? You keep trying piece after piece in that one spot, but nothing is working. Talk about frustrating.
Just like a puzzle, your business needs all of the pieces to run smoothly and successfully.
You have the marketing down.
Your clients love the experience and keep coming back for more.
Your team is a AH-MAZING and having their help to run your business has been a Godsend.
You’re crushing the social media game.
How about your bookkeeping? If you have a bookkeeping system that works for your business, you know that it can feel like that triumphant, last-piece-in-the-puzzle feeling.
What to do when you’re not ready for a bookkeeper (yet)
So you know you’ll want a bookkeeper eventually, but you’re just not there *yet*. I get it – this is a normal stage for your business to go through. But there are things you can do to take care of your finances so that the transition from DIYer to outsourcing your bookkeeping is smooth and easy.
- Keep your receipts organized – Keeping track of your receipts will make the process of categorizing expenses and income easy, plus the IRS requires it. If you’re not sure how to track receipts, our free Bookkeeping Basics guide has detailed instructions.
- Have a plan – Think ahead and plan when you will be ready for a bookkeeper. Whether you want to hire when you’ve hit 6 months in business or when you bring in $5k in revenue, having that benchmark will keep you from thinking about it constantly (and may even give you a light-at-the-end-of-the-doing-your-own-bookkeeping-tunnel feeling)
- Track your income and expenses, somehow – Whether you get an accounting software subscription or use a spreadsheet like our Money Mapper, tracking your finances before getting a bookkeeper is beneficial in s many ways – tax season will be smoother, you’ll know your numbers, and onboarding with your Future bookkeeper will be a breeze!
- Consider getting expert help – You could ask your CPA if they have any tips for tracking finances, or schedule a one-time strategy session with a bookkeeper. Not only will you get the info you need to ensure you’re on the right track, but you can think of it as a trial run with the bookkeeper you’re thinking of hiring.
We’re here for you when you’re ready. Schedule a call with us to start the conversation!
The content in this blog post is provided for general informational purposes only and should not be considered professional tax or legal advice. The author is not a Certified Public Accountant, and no assurances can be made regarding the outcomes or consequences of tax returns, IRS actions, or any financial decisions based on this information. Readers are strongly advised to consult with a qualified tax professional or legal advisor for personalized guidance specific to their individual circumstances. The author expressly disclaims any liability for decisions made based on the information presented in this blog post.