You may survive your first few months without having a bookkeeper that is why you are having second thoughts if it is really beneficial to hire a one for your business. You can see that your business is successful, but you find yourself spending too much time on spreadsheets and invoices than your actual work. Of course, it is a part of a business to grow that is why it is important to delegate tasks as much as possible. More customers may mean more paperwork and more management skills. While hiring a bookkeeper might seem expensive, supporting the growth of your business requires delegation.
Worry no more because we are here to guide you if your business needs a bookkeeper. We listed three questions for you to know whether you need to hire one.
1. Do you have a pile of invoices to record?
This is a big NO-NO in accounting. You shouldn’t let your invoices and expenses pile up because you might be missing tax-deductible items. This can lead inaccurate information when it comes to your cash flows. It will also lead you to risks such as being late in paying your own suppliers. If you find yourself spending several hours just to finish invoicing, then it will be a good idea to hire a bookkeeper to do the job for you.
2. Do you forget to send invoices?
It will lead you to great trouble if you keep on forgetting to send your invoices. You need to be very particular with these since it involves money. There are a lot of invoices going in and out for each client that is one good reason why you need a bookkeeper. Because they focus on these tasks, they will be able to manage these invoices effectively.
3. Do you pay late on annual taxes?
It will not be good for the business if you keep on paying late on annual taxes. The ATO does not look kindly on having to send you a request because you haven’t paid yet. To avoid having penalties, you should hire a bookkeeper so that they can prepare the paperwork for you. This can save you a great deal than being late.
Having these problems can cause great harm to the business. So, it is important for you to take action. Hire a bookkeeper that you can trust. Eclat Accountancy Ltd offers you a lot of bookkeeping services that suits your business needs. Just visit their website here.