Why get somebody to do my Bookkeeping?
Do you want your business to grow? Do you want happy clients? Do you want to be more efficient? Do you want to make more money? Do you want less stress and worry? Do you want time to plan? Do you want more “me” time and family time? If you answered yes to even one of those questions then read on!!
Why would I get somebody to do my Bookkeeping is a question I often get asked and a good question it is too. If you’re a sole trader or small business owner the calls on your time are huge, you have to be across everything and wear many hats. Time, stress and worry over accounts is one thing you don’t need and don’t have to have.
You are the most valuable asset your business has but you are also its most expensive resource, accordingly you need to be looked after and used as wisely and as sparingly as possible. You must spend your time and talents building your business, looking after your clients and generating revenue not spend time reporting on it.
Time: As a small business owner the calls on your time are huge, as the saying goes “being self-employed means you can work whatever 80 hours a week you like”. You need to be looking after clients and business planning. Evenings and weekends are not your own but they need to be. When doing your own accounts you also need to factor in the time to research or contact your accountant with questions or things you’re not sure of, this is dead time better used elsewhere.
Stress: A stressed out business owner is no good to their business, their clients or their family – in fact they are a liability to each. Each of these three things demand quality time and anything you can do to remove that stress, free up that quality time will be repaid in large measures.
Worry: With all the best intentions in the world and the ability to somewhat manage the accounts, you are not a qualified accountant or bookkeeper and therefore there will be stress and worry as to whether everything is right. You never know when the IRD is going to knock on the door for a review or an audit. Do not underestimate the behind the scene’s stress that can be going on if you’re not 100% confident, or have the time, to put into your accounts.
Cost. “It costs”, I hear you say, well toughen up sunshine yes it does but it’s also a valid claimable business expense and will save you money in the long run. Consider for a moment how much time do you spend on your accounts? How much is the profit on your average job? So if you took the time you spend on your accounts and spent it on a job how much money would you have made? Does that more than pay for the bookkeeping fee? Now also factor in a happy client and any referrals that may come from that happy client and as the business owner you have increased time available, are less stressed and less worried – pretty cost effective right?
Benefits: Lower accountant costs, your accounts are always up to date, your accounts are done correctly, because your accounts are right and up to date any urgent loans or overdraft needing accounts are easy and quick, business decisions can be made on correct and current accounts.
It’s a no brainer. What you do with the time saved, worry removed, stress averted and money earned instead of not doing your bookkeeping is up to you, we’d like to quote to make it happen. Let’s have your company’s most important asset functioning at the best of its ability.
© Hughes Judd Accounting Ltd 19th August 2018