Doing the bookkeeping yourself is NOT good for you or your business!
Like many business owners, you probably went into business for yourself because you either have a passion for what you do, wanted to make more money than if working for someone else or wanted a better work life balance.
By now, you have probably discovered that there is more to running a successful business than just doing what you love. There's lots of tasks your not meant to be doing and (unless you chose to be a bookkeeper or accountant) it’s also likely that numbers are not your thing.
However, keeping on top of your bookkeeping is one of the most important things you can do for your business. Tracking what comes in and what goes out of your business means you are in a much better position to work out what is working and what isn’t, plus very importantly, where you might need to make some changes.
An accountant is only as good as the information provided, if there are gaps in your numbers, how can they make accurate recommendations or give you complete advice?
So, why should you use a bookkeeper?
Well, everyone has their own reason for going in to business for themselves but nobody goes into business to run it badly. You likely chose something you could do well and thought you were good at. Your business will do best while you focus your time and effort doing the things you are good at and passionate about, so allow yourself time for the actual business side of things.
Can’t afford a bookkeeper?
As a small business owner, you may be thinking that you can’t afford to hire a bookkeeper, that taking someone on means holiday pay, sick pay and an hourly rate / salary.
Let’s put it another way, how long are you spending on your bookkeeping and what is that time worth to you?
How many hours are you spending in your working day/week/month sorting your books? How much do you charge an hour? What else could you be doing that can probably make money for your business?
Are you doing the bookkeeping in the evening or at weekends? Are you getting the work/life balance that you planned on? Are you spending your free time doing things you wish you didn’t need to? What really is the value of that time to you? It’s probably worth more than what it would cost to outsource to a good bookkeeper.
On average we save our clients 6 hours per week, which is 300 hours a year! What could you do with that time?
The benefit of working with Vital Accounts
Working with a professional bookkeeper doesn’t mean you need to hire someone on fixed hours for every week of the year. Outsourcing your bookkeeping is a very effective and efficient option. At Vital Accounts we work closely with your accountant and liaise directly with them if you wish, saving you even more time.
We work remotely so you don’t have to provide equipment or office/desk space, or pay any overheads. We take care of all the basics - Bank and Credit Card Reconciliation, Accounts Receivable and Payable, Budget and Cash Flow, Financial Reports and Payroll.
Get in touch today to see how we can support you and your business.