Posted on: 24 July 2015
If you're an entrepreneur or small business owner, chances are you're trying to do everything yourself: filling orders, overseeing your advertising and marketing campaigns, personally logging your accounting and bookkeeping. That's just to name a few of your responsibilities. Generally, the workload for you often feels endless and it's likely your do-it-yourself mentality that's to blame.
For any business, to make the jump from bootstrapping startup to full-fledged growth machine, you have to start relying on the expertise of others. One of the most critical aspects of your business revolves around finances. For this reason, one of your first hires should be a bookkeeper. Here are four ways a bookkeeper can immediately help your business:
Time is a rare commodity for most startup businesses and entrepreneurs. It's something you never feel you have enough of and often struggle to track from day to day. For any growing business, maintaining optimum levels of productivity for both yourself and your staff is at the heart of what it means to be efficient and cost effective.
Bookkeepers help in that, rather than you spending costly hours logging your own accounting, much of which takes you away from your business, paying a professional to do it on your behalf will maintain your productivity and often save you money in the long run.
If your business revolves around your creativity to design new products, chances are you're not able to do that when you're balancing the books. Having a bookkeeper on staff or even consulting on your behalf each month, can free up time for you to continue to create innovative products that your customers look for from your company.
Collect Owed Money
Unpaid invoices is one of the biggest headaches for entrepreneurs and business owners, especially in your infancy when the cash is highly depended upon. There will always be clients who may not be able to pay on time or who simply do not wish to pay at all. Rather than you spending more time chasing them for owed monies, hire a bookkeeper to do so on your behalf; they're experienced and more likely to help you get paid faster without upsetting a client.
Your company's growing and you've hired your first employees, now it's time to do payroll and you have no idea where to begin. This is often the best time to bring in a bookkeeper. Not only will they be able to quickly issue payment to your employees, but they'll also be able to notify you should your expenses be too high to afford paying your staff.
Contact a professional bookkeeper with a business like JSPN Bookkeeping Solutions to learn about other ways these finance experts can help keep you in the black.Share