Benefits of Hiring a Bookkeeper for Your Small Business
What does a bookkeeper do for a small business?
While it is SUPER important to track your business income & expenses for tax time, it’s what happens in your business and life throughout the year that helps you see the value of handing off your bookkeeping.
Why is bookkeeping important for your business?
A bookkeeper works with you as a small business owner to make sure your day-to-day finances stay organized. Recording your income and expenses, matching receipts to transactions, double-checking transactions to your bank & cc statements, and running reports so you can understand where your money is coming from and where it is going. If you are wondering what the difference between an accountant and a bookkeeper is, read more here.
Here are 6 benefits of hiring a bookkeeper for your small business:
Saves You Time
Time is one of our most valuable possessions. If you didn’t have to think about making time to complete your books (let alone actually doing it), what would you have time to do?
Get another client? Have more time to spend with family/friends? Go for a hike? Just have free space in your mind?
Second Pair of Eyes
It can be easy to look over duplicated income or unknown expenses when you think you know exactly where your money is going. A second pair of eyes can help catch things you might miss as well as hold you accountable to get things done like uploading receipts.
Just last month, I caught a subscription that was charging my client twice! I let them know, and they got a refund for the duplicated charge. Had we not caught this on the first one, there would have been months of double charges & potential to not get that money back.
FEEL more organized
Believe it or not, how you feel about your finances can affect your business more than you think. Not only will you BE more organized, but you will start to feel more organized with reports sent to you, receipts matched to expenses, income double-checked, and chart of accounts set up and personalized for your business.
Budget & Informed Decisions
Know where your money is going and where it is coming from. Be able to make financial decisions about your business confidently. See what recurring payments you have and cut the ones you don't actually need (because keeping as much of your hard earned money is always the goal). See what offer brings in the most money & if it is worth your time still.
Tax Prep
Many times, your accountant is expecting your bookkeeping to be completed when you come to them. Have everything in one place at the end of the year. There would be no need to scramble for documents or receipts. You & your accountant will be thankful! Plus I often communicate with your accountant so you don’t have to worry about translating the accounting lingo.
By staying organized throughout the year, you aren’t scrambling to see what that trip to Target for $14.23 was for!
Peace of Mind
Have peace of mind knowing that your books have been taken care of each month by a professional. No longer wonder when you will find time to get it done. By the time you THINK about doing your bookkeeping, you will have reports in your inbox!
Bonus: Having someone who actually responds to you!
Having a bookkeeper who responds to you and doesn’t drop off the face of the earth for months on end gives you the feeling that you are worth it (because you are). Your business matters, and having someone who truly cares about you and feeling comfortable enough to ask questions, matters. There are no dumb questions here - you forgot how to read a Profit and Loss report? Aren’t sure what the heck an equity account means on your Balance sheet? Not sure what “Legal & Professional Services” are on your P&L? ASK AWAY!
If you don’t believe me, just see what my clients are saying about working with me:
“She updates my books fast, has a super clear and easy process, and actually took the time to walk me through my first report so I knew what everything meant” - Mallory
“Having Elli on board keeps me stress-free and I know I am well taken care of… and so are my books!!” - Gabi
“Working with Elli has brought me so much peace and increased my confidence in my business!” - Kristina
Your financial numbers tell the story of your business - and are more than just something you give to your accountant at tax time.
They show the months of high income, the months where you had to fight to show up, the months where you took the risk to invest in your business. And having a bookkeeper who is there for you through it all makes the journey a little less lonely.
The weight of tax season & owning a business does not have to fall on your shoulders alone. Working with a bookkeeper (like me, Hi 👋) could be just what you need to feel the weight lifted and have a sigh of relief.
This is a judge-free zone - so if you haven’t touched your bookkeeping in months (or years.. shh I won’t tell) or maybe you have and you aren’t sure what is happening - that is OKAY!
If you are curious about what it could look like to hand your small business bookkeeping off, let’s chat!
