Most business owners understand that they must wear many hats and have to be involved in areas of their business that they do not excel in.
Of the many things you shouldn’t do, you shouldn’t do your own bookkeeping unless you’re a skilled bookkeeper.
A bookkeeper is responsible for processing the paperwork for a company’s business transactions. Ultimately the transactions will be recorded in accounts within the company’s general ledger. Bookkeepers are expected to be accurate, efficient, and knowledgeable about debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more. The bookkeeper’s role may be expanded to include adjusting entries in order for the bookkeeper to generate income statements and balance sheets from their work.
Hiring a full-time bookkeeper requires the commitment for salary, benefits, and payroll taxes, and in many cases is beyond the resources that are available. The answer is quite simple; hire a bookkeeping service.
Certainly, every business owner or manager wants to take advantage of the tools that will make their business more competitive and profitable. A bookkeeping service can be one of the most important tools in your tool box. With anything, shop around.
With Intuits QuickBooks holding more than 80% of the market share for bookkeeping software, it’s no wonder that is where most will turn.
Most people are excited to find that there are web-pages dedicated to help you find a “QuickBooks Pro Advisor”.
Where am I going with all of this?
When you are starting a business, the most often heard advice is to find professionals. Lawyer, Accountant/CPA, Tax Preparer, Bookkeeper … Make sure the professionals you are hiring are really just that, a professional.