Thinking of hiring a bookkeeper? Here’s when you know it’s time to…

It causes you a lot of stress and anxiety

As a business grows, so does the amount of paperwork and record keeping. Being able to balance your time is key, as well as maintaining a good work-life balance. If you find yourself being kept up at night by the stress caused by doing your own bookkeeping, it’s not worth the hassle of doing it yourself.

Your books are never up to date

Falling behind on bookkeeping can have a damaging impact on the day to day running of the business as your finances are not being kept accurately. You will not have a clear picture of business finances, making it harder to predict cash flow.

Your accountant is doing your bookkeeping

Bookkeeping and accounting are not the same. Accountants are more qualified than bookkeepers, therefore are more expensive. So, if you find yourself paying your accountant to do your bookkeeping, you’d be better off hiring a bookkeeper separately and saving yourself money.

You’re not confident in your bookkeeping skills

If you have doubts about the accuracy of your bookkeeping skills, it’s probably better to hire someone else to do it for peace of mind that someone with expertise is handling the task.

It’s taking time away from running your business

Spending too much time on your bookkeeping can end up giving you a limited ability to make high level business decisions. Although bookkeeping is a fundamental aspect of running a business, you mustn’t forget about doing your real job. If you find yourself struggling to balance tasks, it’s time to get someone else to do it.

Andy McLarney

Andy is the Director at Pinnacle Bookkeeping Limited. For more bookkeeping and accounting advice please call us or complete our website contact form.

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