5 Reasons Why You Need A Bookkeeper
I’ve just read two books on business – one was about starting up and one was about getting things done – and the amusing thing was – both books recommended to get in a bookkeeper! Now, I am going to be biased, and say YES you should get in a bookkeeper (because I am a bookkeeper and people like me need work!), but believe me – this isn’t just for my own good… its for yours too! Here’s 5 reasons why you need a bookkeeper.
1. You hate doing it and you’re no good at it
Now, it might be hard to deal with the facts – but if you’re no good at something, you need to admit it to yourself and stop struggling with a task that would be best left to someone else. By this I don’t mean trying to palm the job off onto someone else who hates it equally as much as you do; I mean, give the right task to the right person and everyone is happy! Don’t make the mistake of trying to use your accountant for the bookkeepers job either, they hate it, and I know someone who recently got sacked by their accountant. Their accountant didn’t want to do the bookkeeping, and neither did they, so it never got done!
2. Bookkeepers do the bookkeeping
This relates to the first point, but also to life in general… if you were going to get your teeth fixed, you’d visit the dentist. If you were getting your hair done, you’d visit the hairdresser. Its all about the right person for the right job. So, if you need your books doing, why not get in a bookkeeper? Its what they do. They are (no doubt) cheaper than you think – (certainly cheaper than your accountant), and they won’t take anywhere near as long as you to do the books (don’t worry) because they know what they’re doing! Get in someone who knows what they’re doing, enjoys the job, and this will free up your time to do what you do best… which is to run your business.
3. You’ll be able to get up to date management reports
So many people run their business ‘blind’ – they’re operating and yet have no idea if the business is operating at a profit or loss, so they leave the day to day accounting and get their figures annually, prepared by their accountant, at which point its very late in the day to make any changes to save your business. Your bookkeeper can give you up to date figures – weekly, fortnightly or monthly, depending on how often you see them. And this information can be critical to the success of your business.
4. You can’t do it all
In building a business you should make it systems-dependent. It shouldn’t be all about you trying to do it all. You need to build a good team of people around you to execute the business plan. A bookkeeper is a great person to have on board the team. They can provide you with cashflow forecasts, help you to assess your costings, tell you if you are on budget and help you to see where you are going. In the book “The e-myth” by Micheal Gerber, he talks about how a business is simply a collection of systems. Think: McDonalds… everyone has got their clearly defined role to play within the system, and the first job he mentions to outsource?… The bookkeeping of course! It seems to be the thorn in every small business owners side. Grow your team – and start with the bookkeeper!
5. More than “just bookkeeping!”
Bookkeepers can be invaluable to your business because of the essential role that they fill. Its not just about doing the bookkeeping, and recording the receipts and payments, but bookkeepers can also run the payroll, do the VAT returns and keep you on top of your government statutory filing obligations, plus, some will also fulfil the credit control function for you. It amazing how well a client will respond to someone else. I remember assisting a new client with their credit control. Within 2 weeks, he had £30,000 in his bank account. It can be difficult to maintain a relationship with someone who you are trying to sell to, plus collect money from. Leave the money collecting function to someone else. It then won’t get in the way of ‘doing business’ with the client.
If you are wondering where you can find a bookkeeper who can help you out on a part time, ad-hoc, as and when basis, visit: www.FindMeABookkeeper.com which specialises in UK bookkeepers for small and medium sized businesses. Remember, its not just ‘large’ businesses that ‘need’ a bookkeeper. You could be self-employed and just need a hand ‘every now and again’ – get it done and off your ‘to do’ list! This will leave you free to focus on what actually makes you money for your business! Good luck!
Lisa Newton BA, MSc, FMAAT, is an award winning author of Bookkeeping Made Simple, How To Start Your Own Bookkeeping Business and QuickBooks Online – The Handbook; and is a QuickBooks Certified Pro Advisor. She graduated from CASS Business School with a Masters in investment management, and from Middlesex University with a BA, 1st class honours Major, in accounting and marketing. Lisa also won Best Accounting Franchisor 2 years in a row from BKN Bookkeepers Network. She is currently a member of the ICB and the AAT, an ambassador for Enterprise UK, and is a Finance Director and board member for many companies in various industries including software, events management, property, hair and beauty.
Lisa Newton can be emailed at Lisa@LisaNewton.co.uk or visit www.LisaNewton.co.uk For more information on Boogles Bookkeeping Service contact 020 3371 8894, email Admin@BooglesLtd.com or visit www.booglesltd.com