Make Bookkeeping an Asset

If you own your own business, you may be tempted to do the bookkeeping yourself.  You think you’ll save money and you’ll have a better handle on the finances.  Sounds logical.

The truth is, the costs of following that plan will far exceed any benefits you gain.

Bookkeeping is more than just plugging in numbers.

Accounting software is just a big database.  In order to unlock the information it holds the software has to be configured and transactions have to be entered in a specific way.  To have the support to make smarter business decisions there has to be trust in the accuracy of the numbers.  You also need to know what reports to use and how to use them.

Unless you’re an accountant skilled in business operations the chances are very high you don’t have the ability to set up accounting software well or enter transactions accurately.  You also may not know the best way to look at information or interpret it.

The trick is to turn bookkeeping into an asset.  You want a bookkeeper who can interpret the numbers to provide valuable business insights, help you see opportunities for growth and cost reduction, find ways to save time and proactively prevent financial problems.

More on how to find the right bookkeeper in a later blog.