Do you feel as though you are constantly juggling tasks?
As a business owner, are you always chasing your tail and finding yourself struggling to grab enough hours in the day?
There are many elements of your business that require your attention, especially the financial reporting side of things.
However if you’re keen to free up more hours in your day, help could be at hand if you decide to hire a bookkeeper.
As a member of the UK Bookkeeping Association (http://www.bookkeepers.org.uk/), we can definitely help!
Yet Another Cost?
Far from it.
No, bookkeepers don’t work for free, however the money that you could save from hiring a good bookkeeper may well be worth it.
It’s a mistake often made by business owners that they can save money by doing their own books – yet once things get busy it’s all too easy to neglect these or let things get delayed, with problems building up that could end up costing you huge amounts of money.
How Can A Bookkeeper Help?
- Order, Order
A Bookkeeper is trained to ensure that all business finances are in order. They’ll ensure that all of your financial records are correct and are always kept up to date. As it’s a legal obligation to always accurately record all of your company’s accounts, it’s essential that you have this area of business taken care of.By employing a bookkeeper to ensure everything is in order, it should help to free up huge amounts of time for you, as a business owner, to spend concentrating on the areas you want to invest in or that require your attention.
- Taking Over Tasks
Bookkeepers can help to take over tasks that are time consuming and tedious for you. If your company is expanding and you have employees working for you, you have a responsibility to always pay them correctly and punctually.From checking timesheets to calculating superannuation, there’s a huge amount of work that goes into this. Handing it over to a bookkeeper will allow you to focus your attention where you can really maximize your skillset. To find a qualified bookkeeper, check out: www.iab.org.uk
- Heads Up
You should use your bookkeeper as an extra pair of eyes. Any good bookkeeper will be able to quickly identify when potential issues may arise, or recognize when certain areas of the business are flourishing. Always work closely with your bookkeeper – listening to their expert advice and regularly checking into hear their view of how things are looking financially.
- Keep The Cash Flowing
By keeping a close eye on facts and figures, as well as sending invoices promptly and chasing up on late payments, a good bookkeeper should be able to help you keep your cash flow healthy. By tracking all expenses and regularly recording data in specialised accounting software, you should avoid sudden cash flow problems from occurring.
- Reports Rule
Financial reporting is essential for gaining insight into how your business is performing. Your bookkeeper should provide reports, detailing profit and loss, balance sheets, budgets and cash flow forecasts, on a regular basis. Review these to learn which areas of your business are not cost efficient, which need improvement and which ones are performing well.