Why would someone starting out in business spend money to hire a bookkeeper, particularly with the accounting software that is available today? If you find a bookkeeper who is also a competent and experienced tax preparer, it makes all the sense in the world.
The rationale is similar to owning a home that needs work with the electrical wiring. You might try to take on that daunting project yourself, or ask your “handy” brother-in-law. But will those two options insure that new wiring is done in a timely way, and in accordance with building codes? And will either of you know the best systems to install in light of future needs, or the latest smart home technologies?
Probably not. And when the time comes to sell the home, is a building inspector going to approve your work? Or will the sale be postponed, or worse, be cancelled all together?
It’s not hard to draw likely comparisons from this homeowner scenario to bookkeeping for your business.
Just like waiting for your brother-in-law to show up, and having him pulled off the job when things go wrong at home, your time demands as an entrepreneur can make it next to impossible to do bookkeeping at regular intervals without interruptions. Paying a professional can actually be less expensive than continually stopping the work, and struggling to pick it up later. And you’ll completely avoid the stress of knowing that you’re not getting it done on time.
In place of the building inspector in the scenario above, plug in an IRS auditor, or a bank loan officer who needs to see that your financial “wiring” is neat and tidy. Finally, as with the latest smart home technologies, your bottom line needs to benefit from all the up-to-the minute tax savings that you are entitled to.
Saving a few dollars today isn’t worth short-circuiting your business. Finding the best professional help will insure that you’re fully powered up for a bright and profitable future!