Today’s business owners or young entrepreneurs often come with the DIY attitude.
“I can do this too and I will do everything myself until the dollars come rolling in….”
We justify hiring someone to help with the website or writing the blog, but spending money on a bookkeeper is rarely budgeted for.
With user-friendly software such as Xero, MYOB or QuickBooks, it is not surprising that the business owner might think: “This is easy, I learn the accounting program, I do the books myself and I save money.”
However ask yourself the following questions:
1. Which accounting software is best suited for my business?
2. How well do I know that software and what do I want to get out of the accounting software?
3. How much time would I have to spend in learning the accounting software?
4. How much time would I spend in doing the bookkeeping entries?
5. Do I make money whilst keeping the business books up to date?
6. How much does a bookkeeper cost compared to how much do I charge for my services?
7. Do I actually enjoy doing my own books and do I know how bookkeeping works?
8. Am I compliant with the ATO?
9. Do I know how and when to lodge the BAS?
10. What is my case history of keeping up to date with tasks that I do not enjoy performing?
Answer these questions and it will give you a good indication if you are in need of hiring a professional bookkeeper or not.
- Remember if you need support with your bookkeeping or organising your office - you can contact me at ALL THINGS SORTED