There comes a time in the life cycle of every small business to make changes
. One of the more common ones is to outsource the books and bookkeeping. Let's face it, if you are a tradesman or in a service based industry you don't have time to be making sure invoices are sent or paid. Your time is best spent focusing on what you do best, your business.
But how do you decide when its time to hire a professional bookkeeper or outsource your bookkeeping to another company. The answer is simple really, whenever the time you spend on the books stops you from doing more productive work.
If you are a plumber for example, your time is best spent trying to build new clients that you can provide plumbing services to, and not spending half the month attempting to follow up invoices and people who haven't paid.
You can easily end up spending half of your time on the above tasks. By hiring a bookkeeper you can easily outsource all that tedious work which leaves you more time to grow your business and build your client base.
A good bookkeeper can free up your time by providing the following services:
* payroll and superannuation
* revenue and receivables management
* expense and payables management
* business set-up and renewal
* BAS preparation and lodgement
Many people would say 'I do all my own bookkeeping, why would I pay someone else to do it?'. This is true but if you look at the above tasks there are a lot of things that a bookkeeper can do for you that you otherwise might not have thought of. Afterall, you could probably also paint your own house or fix your own car but you don't because jobs like this are best left in the hands of professionals.
So next time youre working on your business ask yourself this question: 'could I be doing something more productive right now that could help to grow my business'. If the answer is yes then chances are that you can utilize the services of a bookkeeper.