Bookkeeping. When you’re a small business owner it’s about as much fun as going to the dentist, and a lot more painful. We don’t enjoy it. We’re not even very good at it. And yet we keep forcing ourselves to take time out of running our business (or more often time out of our weekends) to get it done.
Why do we keep doing it to ourselves month after month, year after year?
Now I can’t speak for all business owners. But I have a few theories as to why some business owners may be doing it.
1. To minimise costs.
Many business owners do the bookkeeping themselves to save on the cost of getting someone else to do it. But while it may be saving them money, it’s costing them time. And with most business owners being so time poor, it’s probably costing them more than they’re saving.
2. A lack of trust.
A lot of business owners—me included—don’t feel comfortable giving other people access to our financial information. And while that feeling is perfectly valid, it’s not doing their business any good. If you feel the same way, then I’m afraid you’ll have to get used to the idea of letting someone else look at your books.
(The good news is most cloud-based accounting systems let you control what information your bookkeeper can—and can’t—see. You can give them the bare minimum they need to do their job, and keep the rest to yourself.)
3. Not knowing who to choose.
Finding a good bookkeeper isn’t easy. There are no qualifications they need to get, so pretty much anyone can call themselves a bookkeeper. And while there are some very good bookkeepers out there, there’s also the occasional dodgy one. And chances are you won’t know until it’s too late.
If you still think of bookkeeping as chore, then I have some bad news for: it isn’t going away any time soon. In fact, it’s probably more important than it’s ever been, which had led to the rise of cloud-based accounting systems such as Xero and MYOB Live.
And cloud-based accounting systems are changing the entire bookkeeping industry. Thanks to these Internet-based systems, specialists can now offer their services at prices that are far more affordable.
So why are you still trying to do it all yourself?
The benefits of hiring a professional bookkeeper for your business far outweigh the cost. They’ll know all about the latest laws, rules and trends that could save you money. They’ll give you more time to spend on your business (if not with your loved ones). And having up-to-date information means you’ll be able to take advantage of opportunities, giving your business that competitive edge.
That’s why we started MBC bookkeeping. We want to help give businesses that competitive edge—including yours. Our team of professionals will work on your numbers and provide you with real-time information that’s available anywhere at any time so you can make the right decisions for your business.
As I said, bookkeeping isn’t going away any time soon. In many ways, it’s only just beginning. And we can help you take full advantage of it.
So stop spending hours doing something you don’t enjoy. Get in touch with us today, and let us look after your bookkeeping so you can look after your business.