When I first started this business, someone apologized for calling me ‘the Bookkeeper’. I quickly stopped them and said ‘No apology needed. I take it as a compliment.’ Bookkeeping is more than just balancing checkbooks or logging online from your phone to see what your balance is. There are many details that are handled behind the scenes to create proper financial records and tax returns; all very important documents that require in-depth accuracy.
When a business owner contacts me to discuss bookkeeping, many times, I hear the same scenario, with of course some variables between situations.
These are common statements I hear from the Business Owner:
There isn’t that much.
It isn’t complicated.
We are growing and we need assistance about once a month or every other month.
I just got behind and need help getting caught up.
When I work with CPA’s the common statement I hear from them:
Client’s bookkeeping is a mess.
Client needs ongoing bookkeeping services.
The Client or Client’s employee doesn’t know what he/she doesn’t know about bookkeeping.
I am sure these are terms you have heard before, but most likely haven’t take time to learn the full definition or how to properly handle the bookkeeping details. These are just some of the areas managed in the bookkeeping. Quick Quiz-Do you know how these terms relate to each other and to the financial reports? Expenses*Income*Liabilities*Payroll Liabilities*Sales Tax*Assets*Depreciation*Equity*COGS*Balancing*Reconciling*General Journal. A qualified Bookkeeper does.
Don’t devalue your business by minimizing your need for a qualified bookkeeper. Understand that you may not understand all that goes into creating accurate, timely financials. As an Owner you understand how valuable you are to your business. Your time is best spent selling your products or providing your services. You know that you would be a very expensive Bookkeeper. This is because you understand the work, skill, and experience it takes in order to proper manage your books.
Accept that it may cost more than you thought it should, but in the long run, it will be less expensive than dealing with any fallouts that may come as a result. Respecting and reconsidering your previous view of a Bookkeeper will be a gain to your businesses future. There is a real need for qualified Bookkeepers in many small businesses. We just need to revise our way of thinking about a Bookkeeper.