When Should I Hire a Bookkeeper? (And Why!)
Let’s face it, if you’re not a “numbers person”, your bookkeeping can be one of the least appealing parts of owning a business.
It can be tempting to handle your bookkeeping on your own to save money, but as your business and responsibilities grow, it’s often the first task to fall by the wayside!
If you find your bookkeeping to be complicated, time consuming and stressful, it might be time to delegate this task to someone who really enjoys it!
Here are some signs that it might be time to hire a bookkeeper:
You want to start your business off on the right foot
That’s right, you don’t need to wait until you have an established and profitable business before you hire help! Hiring a bookkeeper early on means that you will be set up for success from the get go, and will have control over your money from the very beginning.
Bookkeepers can be amazing resource during your business journey, and can help instil best practices into your business (which is so important for profitability and longevity).
You’re struggling to know the right rates to pay your staff
Are you paying your staff properly? This area can be very complex and confusing for business owners, which is why many get it wrong.
Paying your staff incorrect rates can lead to hefty back payments and fines, not to mention disgruntled and unmotivated employees!
Underpaying workers can be especially common in the hospitality industry (some high-profile cases spring to mind). As a restaurant owner myself, this is my specialty.⠀⠀⠀⠀⠀⠀⠀⠀
When in doubt, always chat to a professional. I can help you with end-to-end payroll management, and keep you compliant with PAYG, superannuation and Single Touch Payroll.
You're behind in lodging your Business Activity Statements
I'm here to ensure you never fall behind again!⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
Lodging your Business Activity Statements with a registered BAS Agent allows you to take advantage of an additional one-month extension, which is great for cash flow.
You're overwhelmed with paperwork and need more hours in your day
With the right systems and software in place, there is no reason you should ever be overwhelmed with paperwork and processes again. One of the greatest things I offer my clients is getting their free time back, which is why I’m passionate about using automation inside your business.
Automation is one of the most useful tools you will implement in your business to reduce unnecessary work and stress. I have created automated processes in countless businesses, and will make this process easy and effortless.
Your bookkeeper also allows you to escape some of those tedious tasks that come with owning a business, and who wouldn't want that? It’s time to spend less time on your computer and more time enjoying your life!
You struggle getting paid on time
This has to be one of the most awkward and annoying parts of owning a business, but not anymore! Your bookkeeper has no qualms with chasing down those late payers, and can even set up automatic reminders so you’ll never need to have an uncomfortable conversation again.
Are YOU the late payer? Your bookkeeper will ensure you stay on top of your invoices and maintain your excellent business reputation.
You have just started using Xero and have no idea what you're doing⠀⠀
Xero is a fantastic platform that helps business owners save time on their accounting - but only when you know how to properly use it!
Don’t waste your precious money on subscriptions without knowing how to properly use the software. I can help you get the most out of Xero with 1:1 sessions and support, allowing you to you to take care of your own bookkeeping and understand your cash flow.
I love empowering my clients to manage their finances on their own, and I offer both virtual and in-person training sessions.
You’re losing money and you don’t know how :(
Sometimes you just need an objective eye to look over your numbers!
A bookkeeper can help you pinpoint those money leaks, improve your cash flow and devise helpful budgets.
You'd like to focus more on generating revenue
With so many admin and bookkeeping tasks to take care of as a small business owner, it’s easy to forget about what you came here to do - make MONEY!
Outsourcing these tasks to a bookkeeper frees you up to focus on the income-generating side of your business and making it more profitable.
I also offer assistance with financial reports to help you make data-driven decisions, and business consulting sessions to set your business up for longterm growth.
You’re not sure whether you can afford an in-house accountant or bookkeeper
No matter what stage your business is at, it’s important to keep your overheads down wherever possible.
Outsourcing your finances to a bookkeeper can be a highly cost effective choice, as opposed to hiring permanent full-time or part-time staff.
Your bookkeeper can offer an affordable (and tax deductible!) hourly rate or retainer, with no lock-in contracts.
I would love to be a part of your business journey, so if you’re interested in outsourcing your bookkeeping, please get in contact for an obligation-free chat and quote.
You will never regret taking care of your money and cash flow!