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Whether you’re a solopreneur or run a Fortune 500 company, there is one tie that binds all businesses: You must manage your money.

But it takes a special person to love bookkeeping, and 99 percent of the time, it’s not you.* 

*Based on unscientific research; we totally made up this stat. But seems irrefutable, right?

That said, it’s likely safe to say that most of us haven’t been trained in reconciling and reporting because unless your business is, in fact, accounting, you started your business to follow a passion – a passion which decidedly doesn’t include allocating expenses into categories and organizing receipts. 

But as your small business grows, you’ll likely reach a point where the cost-benefit for hiring a virtual bookkeeper proves infinitely more effective than allowing it to occupy your working – or personal – hours.

This then begs the question: How do you know you’ve reached the point of needing to hire a bookkeeper? 

We can help you determine that. Gut-check time: Ask yourself … 

  • Are you behind on your books?
  • Do you keep receipts in a shoebox?
  • Have you divvied your bookkeeping tasks to employees who aren’t bookkeepers?
  • Have you pinned all your hopes on TurboTax?
  • Are your invoices still unsent or regularly late?
  • Have your sales increased but your profits haven’t?
  • Are your bank statements not reconciled?
  • Are your books only updated just before tax season?
  • Do you lose sleep wondering if you missed tax deductions?
  • Do you lack confidence in your bookkeeping skills?
  • Do you have unpredictable cash flow?
  • Does bookkeeping take time away from dreaming, growing or leading? 
  • Do you wonder if you’re overpaying someone to clean up your messes?

 

If you answered a sheepish ‘yes’ to any of the above questions, you’re in good company. Most of us aren’t equipped to handle our own finances as our business grows. Thankfully, this is a good problem to have. Think about it: If bookkeeping were for everyone, then we wouldn’t need bookkeepers, right?

Why You Need A Virtual Small Business Bookkeeper

We get it, though. You may still need some convincing to hire a bookkeeper for your small business. After all, up until this point, you’ve been responsible for the comings and goings of every single dollar for your business – and you’re not quick to part with a single cent. 

But just as you wouldn’t ask your doctor to change the oil in your vehicle, it’s time to stop asking your sales rep to balance your books. 

So here are just a few reasons you should hire a bookkeeper for your small business – and maybe make you wonder why you didn’t do it sooner.

Long-Term Savings

Fewer things will prove as costly as poor money management for your small business. But hiring a virtual bookkeeper will allow you to save more while getting the maximum value for your business. Further, virtual bookkeeping services are far more cost-effective than having a salaried bookkeeper.

Flexibility

Virtual bookkeeping services have experienced, trained bookkeepers who will manage your bookkeeping on your schedule – without worrying about the bottom-line impact of paying a full-time salary, sick days, holidays and benefits.

Objective Financial Advice

With a third-party involved, you get an unbiased, expert opinion on the financial health of your business. And with that perspective, you can make informed business decisions to impact the health and vitality of your business.

Accurate Financial Reporting 

When you’re juggling it on your own, bookkeeping can often take a back seat – but it can’t afford to. Virtual bookkeeping services can provide updated financial reporting in real-time so once tax season rears its head, your accounting is ready to go.

Cash Flow Management

With a virtual bookkeeper for your small business, you can easily refer to your financials and evaluate your profits. Further, you can closely monitor both your payables and receivables to increase your cash flow, making your operating activities easier.

Save Time

Hiring a virtual bookkeeper to check off those tasks that inevitably end up dead last on your mile-long to-do list will save you time, stress, and a huge headache when the end of the year rolls around. 

Peace of Mind

Need we say more? Because really, if none of the aforementioned benefits for hiring a virtual bookkeeper for your small business resonate with you, surely you can appreciate the pricelessness of something – anything – giving you peace of mind while you juggle literally everything else.

So now, you’re probably sure you want a bookkeeper but maybe you’re not sure if you need one. Don’t panic – we’ve got you!

Just download and complete this worksheet to determine if you need a bookkeeper so that you can leave your accounting in someone else’s very capable hands so your very capable hands can get back to doing what only you can do.

Because whether you’re a billionaire tycoon – we can dream, right? – or a small business run from a home office, managing your bottom line is the difference between success and failure. 

If you’re ready to wave the white flag on handling your red and black margins, let one of BELAY’s experienced virtual bookkeepers help! Contact us today to fill out a questionnaire, get paired with your dream bookkeeper and regain your peace of mind – and wonder why you waited so long.