Category Archives: small business finance

Hiring a Competent Bookkeeper for Your Business

Get your Bookkeeping done correctlyStarting a business is easy enough. The tricky part is managing it. Small business bookkeeping involves keeping track of all expenses and income to determine whether you are making any profit and how much of it.

The smaller your business is, the lesser the capital and the more limited your budget will be. You must, therefore, do everything possible to make as much profit as possible while keeping expenses to the minimum. Nevertheless, it is not easy to do it without proper bookkeeping.

Most business owners find bookkeeping a tiresome and boring task. In addition, if you try your hand at it without any professional training, you are highly likely to bring more harm than good. You are likely to incur more expenses paying for the damage to be undone. Thus, it is advisable to hire a bookkeeper to do the job.

There are two options for hiring a bookkeeper. You can either go for an in-house one who will be a permanent employee or hire a freelance one who’ll manage your books on a contractual basis. If your business is small, the second option is the better one.

Benefits of outsourcing a bookkeeper

There is much to be gained from hiring a freelance bookkeeper. Since the most important factor in a small business is making as much profit as possible to enhance its growth, you should take every opportunity to cut on costs, which is what outsourcing some services including bookkeeping does. Additionally, you have enough time to take control of other matters concerning the business.

Lower Budget

If you employ an in-house bookkeeper, you must be ready to include the cost of computer software and maintenance in your budget. Moreover, the frequent updates of the software means more expenses in terms of buying a new one every now and then as well as training the bookkeeping staff. Since they have their own up-dated software, freelancers come with no added cost besides the charges for their services.

What is it like to choose Bookkeeping as a career?  Find out with this short video below:

Better Efficiency

Bookkeeping can sometimes be a tedious task especially when there is a pile-up. An employee is likely to get unmotivated and perform the tasks half-heartedly. On the other hand, a freelance bookkeeper will have more commitment since there is a contract involved. Since most freelancers work for an agreed period of time, they work hard to beat the deadline as well as provide quality work.

Constant and Timely Reminder

Running a business is a hectic affair. It will take much of your time and you are likely to forget crucial activities and dates. A freelance bookkeeper will always remind you about important business requirements and deadlines. They include the last dates for tax payment thus preventing government penalties from being heaped on you due to lateness of tax remittance.

When hiring small business bookkeeping freelance services, it is prudent to ensure that paper work such as invoices, sales receipts, and bank statements, is arranged in proper order. Apart from avoiding unnecessary inconveniencies, sorting your papers before the arrival of the bookkeeper helps save time as well as costs. Remember, the longer the bookkeeper works for you, the more you will pay.  For business clients in the Vancouver area of British Columbia, Canada – one of the top Bookkeeping firms that also provides administrative support services and more is Admin To Go Business Solutions Ltd. – find out more by visiting their website at http://www.admintogobookkeeping.com, or find them on the map below: