subject: The Easiest Way To Save Money On Accounting And Bookkeeping Costs For Your Business [print this page] You probably did all the work yourself when you first started your own business just so you can save money. This worked fine at a time, but while you're trying to grow your business you notice you don't have time to pay attention to details like managing your accounting and bookkeeping software tasks.
When you come to this point, you have no choice but to hire employees to take over some of the smaller, menial tasks. If you look in your local telephone directory, you will find many listings for accounting firms that could handle all of your business finances.
But odds are, their services come with a hefty fee. A lot of outside expense is something new businesses can't afford, so the best option would be to hire an employee to do your bookkeeping and accounting for a more manageable cost.
Before you start looking for a new employee, you need to spend some time thinking about what that person's job responsibilities are going to be. Being accurate and keeping a detailed records of the expenses of the business as well as managing your accounting and bookkeeping software are probably the main things you want your employee to do.
At regular intervals, you will need to have this person prepare financial reports for you to scan, showing how much money the business has earned versus how much has been spent, so you can keep track of your overall standing.
Since this person will be handling money and be responsible for paying the bills for the business, it's important to make sure that your employee is trustworthy. They need to make sure that everything balances each month and be able to keep up with your banking records.
It will save you time and trouble if you have an accountant who can take care of the payroll for your other employees. Keeping up with your stock, determining prices, and doing any ordering if your business requires an inventory is something this person can also do.
You may want to add more duties as your business grows and your employee adjusts to their new role. Your employee may be able to take care of other duties like answering the phone, filing, dealing with customers, etc., depending on the number of hours they work each week.
Depending on qualifications and experience, you should expect to pay your bookkeeper or accountant at least $15 per hour. You may want to develop some sort of benefits package to attract more stable employees if your business can afford to do so. It will probably be easier to find someone if you can offer full-time work, at least 32 hours per week.
You'll be happier and be better off hiring an employee, not just for the quality, but the cost as well.
