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Tuesday, February 24, 2015

7 reasons to start using a professional for your book keeping

Professional bookkeeping services have noteworthy advantages
By Linda Carr
As a business grows and expands, keeping track of your finances can become a bit too much for one person to keep on top of. 

With the rise of online tools that supposedly make it easier to balance the books yourself, many feel as if they shouldn't need to hire a bookkeeper. 

Well, book-keeping isn't a one size fits all kind of job! What works for one business might not for another – so here are seven reasons why it might be worth looking into using a qualified bookkeeper.

You can focus on other things

Hiring a bookkeeper will give you more time to focus on your business. Trying to find the time to run a company and deal with the numbers can often leave you feeling stretched a little thin. By utilising a bookkeeper’s services, you can be much more involved in the aspects of your business that you feel comfortable in.

They will have experience that you don't

They've done this hundreds of times before, so there's no need to worry that there's a problem that they won't be able to solve. When you come across a bit of a sticky point in your books, you won't have much previous experience to draw on, whereas your bookkeeper will!

It will take them less time

The job will be done a lot quicker too. When you do something day in, day out, you become pretty good at meeting deadlines in a short space of time. A job that would take you a day or two may only take a professional bookkeeper a few hours.

You want to make sure everything is in order

If you don't have a lot of transactions to keep track of but still worry that you won't be able to keep on top of things, don't worry! There's no minimum ‘order’ when it comes to bookkeeping. No matter how few transactions you have, utilising the services of a bookkeeper to make sure that everything is coming and going on time will put your mind at rest.

Taxes are made easier

Things like taxes will be taken care of without you needing to lose sleep over them. Nobody likes preparing for and filing their tax return, so why put yourself through the hassle? A bookkeeper will take care of your tax return and keep you in the loop should any problems arise.

Bad books will have a knock-on effect

If your books are in trouble, then it could spell disaster for other areas of your businesses. If you're not invoicing people on time or paying bills by their deadlines, it's going to make for a drastic reduction of money coming in, which means that wages or other services could end up either being paid out of your own pocket or late. If you use a bookkeeper, you won't find yourself in this kind of situation!

You work away from the office

If you're a business owner that's away from the office quite a lot, then you may find that your finances get a little neglected. A bookkeeper will be able to keep track of what's coming in and out of your company accounts and make sure that everything is matching up correctly. This means that you can work wherever you are needed, safe in the knowledge that your finances are in hand.

Invest in a bookkeeper, invest in your company's future

As you can see, there are some compelling reasons to hire a bookkeeper. Finding one that is suited to the needs of you and your company is vital, so communicate openly and ask questions to find out if they're the right one for you. Once you've found one, you'll wonder why on earth you didn't do it sooner!

About the author: Linda Carr is the Founder of Linda Carr Chartered Certified Accountants which was established in 2009. Based in Peterborough, Linda recognised the need for SME’s to be able to access a reliable accountants for an affordable price.  

Image: Gadini/Pixabay; US-PD