When is the right time to hire a bookkeeper?

Running a business means that you are your own boss, but you don’t have to handle everything yourself. If you’ve been responsible for your business’s bookkeeping, you know how difficult it is to manage on top of everything else that comes with being a business owner. So, when is the right time to hire a bookkeeper to take over? Keep reading to find out!

You Have Unpredictable Cash Flow

Unpredictable cash flow can occur when invoices are left unpaid or receipts are not adequately accounted for, resulting in outdated and incorrect financial records. If you are unable to pinpoint your business’s cash flow at any given moment, you may not be aware of just how much you are earning and spending. Hiring a professional bookkeeper can help you accurately gauge your business’s success and adjust as needed to promote growth and success. When you track your cash flow, you can analyze your expenses and know exactly where you stand. By hiring a bookkeeper, you gain access to accurate and up-to-date financial data, ensuring your books are reliable and current.

Tax Season is on the Horizon

If your files and books are in disarray, the last thing you should do is give them all to your accountant with just a few weeks to prepare everything. To organize and sort through everything, your accountant will need plenty of time to get the job done. To prevent a big, expensive mess, consider hiring a bookkeeper well before it’s time to file your taxes. With a professional bookkeeper on top of your books, you can be sure that your accountant has everything they need, and you have everything filed away in case of an audit. This will save your accountant time and energy sorting through your files and prevent you from paying a hefty charge. Simply put, a bookkeeper will ensure that your receipts, invoices, files, and documents are readily available and accurate, so you never have to wonder where your business stands.

You Have Experienced Errors

Are you struggling to keep your books up to date? Is tax season a nightmare every year because you struggle to locate certain files? Perhaps you are unsure of your current business margins? All of these indicate it is time to hire a bookkeeper! If you are unable to pinpoint the health of your business, then you are not financially aware of its state, meaning you are operating at risk. With a bookkeeper on staff, you have access to all the necessary information and can make informed, well-educated decisions.

You Have No Time

Have you found yourself struggling to make time for your actual job duties because you are caught up in bookkeeping? This may be a sign it’s time to hire a bookkeeper. The success of your business may depend on outsourcing your bookkeeping responsibilities. When you notice that bookkeeping has taken time away from your main priorities, it may be time to consider hiring. As a business owner, we understand that your goals are aligned with achieving success and growing your business, rather than getting bogged down in paperwork and invoices. If you’re experiencing stress and burnout with no time to focus on anything but bookkeeping, Warren Accounting can help.

Let Warren Accounting Group take care of any and all bookkeeping needs, including invoices, checks, receipts, and statements. Enjoy monthly, quarterly, or yearly financials, so you know exactly where you stand at all times. Ready to get started? Contact us today at 252-827-5259!