You’ve got an Accountant you see annually to do your taxes, why would you need a Bookkeeper and what can they do?
It’s a common thought process… You see your Accountant once a year and you find out how the business performed throughout the previous year and you find out how much tax you owe… That’s all you need right?? WRONG!
There’s so much more you can get from having a Bookkeeper or Accountant on board you consult with regularly to help your business. Here’s how!
1. You don’t have to do the data entry yourself
By having a Bookkeeper on board to help your business, you remove yourself from the need to do all the financial data entry! A Bookkeeper can take care of all of that for you plus so much more! But by allowing someone else to do it for you, you’re freeing yourself up to spend YOUR VALUABLE TIME on revenue generating tasks for your business.
2. You can get valuable financial insight on an ongoing basis
What if I told you that you didn’t have to wait until the end of the financial year to know how your business performed?? By tracking the financial position throughout the year and getting reporting you’re keeping your finger on the financial pulse of your business. Why? So you can make more informed business decisions… and who knows, maybe actually achieve YOUR INCOME GOALS!
3. You can actually implement and track a budget and a cashflow forecast
Ok, I’ve chucked some fancy words in here. But really, you can start knowing how your business is GOING TO PERFORM before it even happens! WHAT??? This means you know what and when your expenses are due throughout the year, and are able to predict what income you’ll have so you can then take steps to make sure you make the INCOME YOU WANT! For more information on cash-flow you can check out my blog here. There’s so many reasons you need a budget in your business, but you can read my top 5 reasons here.
4. You can actually save money
I know this one sounds counterproductive…. How do you save money when you’re spending money on a bookkeeper? I get it! But what if I told you that a Bookkeeper is trained to see any money drains and to actually question all the expenses and see if there’s more financially efficient ways to operate your business! I’ve helped just 1 of my clients save money in 3 different instances! Not to mention all the rest of my clients! You can read about my 4 top ways to save money here.
5. Save yourself and your Accountant time at EOFY
By keeping all of your bookkeeping in order and on track throughout the year, then there’s less headache at tax time! Seriously… isn’t this reason enough? NO ONE wants to spend hours trying to get everything together at tax time… why not spread it out into much smaller increments throughout the year instead? Then you can go straight into the end of the financial year with ease and confidence that you’ve got everything sorted!
6. Have your own personal financial cheer squad
Now this one is my favourite! By having a bookkeeper in your corner you have your very own financial cheer squad you can lean on, ask questions, bounce ideas off and have a supportive business buddy looking out for you! Why wouldn’t you want that? It’s the best! (Just ask my clients!)
Now I know this sounds very salesy! I’m sorry – but it’s all the absolute truth. Having a Bookkeeper on your team really is invaluable. But if you’d like to have an obligation free chat to see how I can help your business, then send me a message here! Otherwise you can book straight into my diary for a call or zoom here.
