Bookkeeping tips to help you build a solid financial foundation for your business.
You know you're ready to hire a bookkeeper when:
Bookkeeping takes more time than you have (or want). Track how much time you spend on your books every month. For example, let's say it's 3 hours. Now multiply that number by the hourly rate you charge your clients (3 x $75 = $225). This is how much you "spend" on bookkeeping each month. Can you afford not to hire a bookkeeper?
You take your business seriously. This is no longer a hobby or your "small side hustle". You want it to grow and are taking steps to achieve that goal. Seeing your numbers every month will help your business grow.
Time that should be spent planning and learning is used for bookkeeping. We all need days to develop new services, plan workshops, or learn new marketing strategies. When bookkeeping starts taking away from this time you know it's time to have some help.
You feel confused or overwhelmed every time you sit down to crunch numbers. It's true, numbers are not for everyone. My mission is to make your business finances easy to understand even if you hate finances! So if you find yourself in tears every time you think of bookkeeping, ask for help.
Tax time means a mad dash to get your books caught up before handing them over to your accountant. If you do not keep your books current every month for any reason it might be time for a bookkeeper to help you. Bookkeeping can be much more than records for tax time. It can help you track financial goals and grow your business.
You need someone to show you how your business is doing financially. I send my bookkeeping clients financial statements each month so they can see how their business is doing and make improvements. I'd love to help you do the same!