When you think of a bookkeeper or accountant, what comes to mind? For many people, the first thought is that they are boring and geeky. The truth is that these professionals are anything but boring, and I'm not just talking about myself! We love numbers and analysing data, which may seem geeky to some people but this is no different to any other trade, being an expert at what you do and enjoying it doesn't mean you're geeky.
In fact I'm in a community of bookkeepers and accountants and I am yet to meet a stereotypical bookkeeper!
The truth is bookkeepers and accountants are intelligent and skilled in financial matters that will give you a new outlook for your business. If you are looking for someone who can help you manage your finances and help your business move to the next level, you should consider hiring a bookkeeper or accountant.
"Bookkeepers' are Old fashioned"
Another comment I hear a lot! We are far from old fashioned. A bookkeeper needs to be up to date with the latest technology to do their job efficiently.
There are many software programs available that automate a lot of the tasks that bookkeepers used to do manually. This means bookkeepers can spend more time on value-added tasks such as analysis and interpretation, and less time on data entry.
We also need to ensure that the software we use is easy to understand for our clients as well as intelligent and intuitive. If we were old fashioned and didn't move with the times it would make our job's much harder. So you see, we have to keep up to date so we are far from old fashioned.
"I can do my books myself"
At first you may think that doing your bookkeeping yourself is manageable and will save you money. But as your business grows, so will the complexity of your bookkeeping and financial reporting requirements.
You may find that what started out as a simple task has now become a full-time job, and one that you are not qualified to do. It is at this point that many business owners realise they need to hire a professional bookkeeper or accountant.
Hiring a professional bookkeeper or accountant will give you peace of mind knowing that your books are in order and being managed by someone who is qualified to do so. This will free up your time so that you can focus on running your business.
"You only need to do your bookkeeping once a year"
This is where a lot of businesses go wrong. If you only keep on top of your books on an annual basis , you will find it much harder to manage your finances effectively. This is because you will not have a clear picture of where your money is going on a monthly or even weekly basis.
It is important to keep on top of your bookkeeping on a regular basis so that you can see how your business is performing and make any necessary changes as well as being able to make important decisions. This will help you to avoid any financial surprises down the line.
We advise doing your bookkeeping at least weekly to give you a clear financial picture, so that you can set yourself budgets and goals to ensure that your business is moving in the right direction.
"Bookkeepers and Accountants are expensive"
When you consider the time you will spend on doing your own bookkeeping and the fact that you don't have the expertise to ensure that you are claiming for the right amount when it comes to your VAT return, hiring a bookkeeper is a small price to pay.
Using the services of a bookkeeper will ensure that you don't miss deadlines, avoiding hefty penalties, fines and interest.
A bookkeeper will be able to produce insightful reports for your business and guide you accordingly in order to make the best decisions for your business. Hiring a bookkeeper to help is a business investment and definitely not expensive when you weigh up the pro's and con's. At Long White Cloud Accounting we use GoProposal to produce our bookkeeping packages. This means that your business only pays for what is required.
So if you're looking for someone to help you with your finances, don't write off a bookkeeper or accountant because of some misconceptions, give us a call instead! We may just surprise you.
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