Why should I hire a bookkeeper for my small business?

If you’ve started your own small business, then you know about taking risks and relying on yourself. As your business grows, however, it becomes difficult to personally oversee every detail. In fact, it may be a poor use of your valuable time and effort to personally take care of so many aspects of your business, including the job of accounting. Having others take care of accounting and bookkeeping services for your Airdrie small business is a great way to be more productive and efficient.

A bookkeeper isn’t quite the same thing as an accountant, although ideally your bookkeepers and accountants should work together well. Whereas accountants tend to focus on big-picture financial aspects of a business, the bookkeeper takes care of the on-the-ground problems of your money. Some core services a good bookkeeper can provide are: 

o Tools to keep your records complete and updated
o Payroll services to calculate and submit employee deductions accurately
o Monthly, Quarterly, and Annual reporting to help you make informed decisions.

As your business grows, your books continually become more complicated. Having a dedicated bookkeeper just makes sense to keep your business running smoothly.

Why is having a bookkeeper a benefit?
Without a bookkeeper, you’ll have to keep track of every transaction that your business makes. For some small businesses that have dozens of customers a day and make several purchases of stock, this can add up. Once you hit a certain volume, it’s easy to tell yourself that you’ll handle to bookkeeping later and then mistakes get made. Having someone dedicated to making sure that you make your payments and your clients make theirs on time will keep your business running smoothly.

Although a bookkeeper’s primary task is to record all financial transactions, a good bookkeeper will be do more than passively record. In conjuction with accountants, they may help you think about issues like the following. Is there a different kind of payment method that might make your billing process more efficient? Is there any waste occurring in your organization? Are particular clients more unreliable about payment than others? Your bookkeeper will be able to keep track and make specific recommendations about these kinds of questions. With a bookkeeper you can focus on doing what you do best: running your business.

At Padgett Business Services, we understand the unique challenges that face small businesses because we are one ourselves. If you run a small business and need bookkeeping or accounting services in the Airdrie area, contact us today. Our bookkeepers and accountants can help you make the most of your business.

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