It's never to early to enlist the support of a bookkeeper, especially nowadays with the benefits of the cloud. But during the initial start up stage a lot of business owners decide to take on the bookkeeping responsibilities themselves or be assisted by a family member. This is usually a financially motivated decision made to save on initial costs and rightly so, it's important to ensure you have a stable business before adding additional expenses to the mix.
Considering that second scenario, let's assume you lay a great foundation and your business becomes successful. Soon you’re hiring staff, buying more, spending more, things are getting busier and busier. Congratulations! You are reaping the rewards of all your hard work. Although you love working in and on your business, you’re finding that you’re spending what small amount of down-time you do have catching up on paperwork: paying bills, paying staff, getting invoices out so you can get money in. Or perhaps that family member is finding it difficult to keep up with the demand while juggling their own schedule. What used to be easy and fun has now become burdensome... and the stress is creeping up. Doesn’t being the boss mean you’re in charge? Aren’t things supposed to be getting easier? There just don’t seem to be enough hours in the week to be able to get through it all and not only is the workload getting bigger, things seem to be increasing in complexity too. You just can’t seem to shake a niggling feeling that you could be unknowingly missing important financial deadlines, or making mistakes that could mean the ATO come knocking at your door…
This is where it is a good idea to contact a bookkeeper. You should be running your business, your business shouldn’t be running you! A bookkeeper can assist in as many or as few of the administrative tasks you require. Perhaps you like preparing your own invoices, but you find payroll scary, or you’re at the point that you want someone to look after the whole financial side of things. A bookkeeper is there to make running your business easier and can offer services in whatever capacity you require. Working on your business throughout the year means we understand it. We know when payments are upcoming or due, we can manage cash flow and schedule payments so you don’t have to worry about unforeseen tax bills, superannuation, insurance payments etc.
If you’re time-poor, the financial side of your business is becoming a headache or you're feeling a bit out of your area of expertise, do yourself a favour and enlist the help of a bookkeeper. It's one of the best business decisions you can make!