The numerous decisions business owners have to make should not be made lightly. Deciding what to outsource is one of the key decisions that an entrepreneur has to make. Numerous times owners decide to keep their bookkeeping in-house in order to keep costs down. In turn, bookkeepers spend numerous hours “cleaning up” what business owners have accidentally done. For the owners, the clean up is costly. Add in the hours the owners spent attempting to do it themselves, and the cost savings owners wanted are never realized.
A startup needs attention from its founders. These owners provide wonderful products and services in which they should focus on strategy, marketing, and sales. In turn, they sit at their computers not understanding why debits and credits are switched, and not knowing how to perform adjusting entries. These owners are creating amazing ideas that individuals need, but or spending endless hours trying to understand something in which they have no knowledge.
On average small business owners with 100 entries will spend 4-6 hours on their bookkeeping a month. If they hire a bookkeeper at $75 – $125 per hour the bookkeeper could complete the task in 1-2 hours due to their knowledge base and familiarity with bookkeeping software. In addition, bookkeepers also provide insight into analyzing different metrics of profitability in your business.
If you are a business owner who finds yourself entering redundant data into excel, or utilizing Quickbooks and can’t figure out how to do an adjusting entry, we would love to talk to you. Need a little more convincing to actually hire a bookkeeper. Read the 10 Reasons Your Should. We look forward to partnering with you and taking this much-needed task off your list.
