Why it matters whether or not you hire a bookkeeper in Duluth, Georgia
So, you own a small business and you’re thinking about hiring a bookkeeper in Duluth, Georgia? Are they necessary? What do they do? And what can they do that you can’t do yourself? The truth is in the details. For a breakdown of the real value of a bookkeeper to your business, read on.
What Does a Bookkeeper Do?
If you’re asking what a bookkeeper does on a daily basis, the short answer is that they maintain the financial records of a company. This includes accounting, tracking of all accounts including bank accounts, accounts payable, accounts receivable, and payroll, as well as verifying the accuracy of finical transaction recording and reporting.
The long answer is that they do much more than that. Here’s a basic list of what they do on a regular basis:
- Maintain and update financial records daily
- Balance bank accounts
- Ensure transactions are recorded and reported accurately
- Payment remittance for invoices from vendors and suppliers
- Invoicing for payments due
- Receive and record payments from clients and customers
- Ledger management
- Allocate funds for company and department expenses
- Payroll management including tax recording and employee reporting
- Provide reports to company principles including profit and loss statements, balance sheets, and cash flow forecasting
What’s the Real Value in Hiring a Bookkeeper?
There are so many reasons to consider hiring a bookkeeper for your business. Time, energy, expertise, and accuracy are at the top of the list. Let’s break it down.
Your time is valuable. If you’re not a trained bookkeeper, not only will you spend valuable time learning how to be a bookkeeper, but that time spent learning to do something that doesn’t come naturally is time spent away from your business. The best use of your time is spent focusing on growing and building your company.
Energy isn’t limitless. If you’re spending your time and energy finding clients and building your brand, product, or service, what’s left to spend on your accounting? Instead of doing it halfway because that’s all you’re up for, let someone whose sole job is taking care of the books, take care of the books.
Expertise is needed for any endeavor, if you want to do it well. Sure, you could get the training you need to be an expert bookkeeper, but why? That’s not a valuable investment when your area of expertise lies elsewhere. An expert bookkeeper is already trained and certified to make sure your books are done right and done on time.
When it comes to your accounting, accuracy is critical. A trained bookkeeper can keep their eyes on your finances while you keep your eyes on your business. They can ensure accuracy, attention to detail, and they can make sure your business is in line with its financial goals.
Are There Benefits Outside of Daily Recording?
When it comes to bookkeeping, it’s not just a few tasks that need to be done daily and on to something else. It’s bigger picture than that. In fact, this is where some of the real value comes in. Compliance is a big deal when it comes to small businesses. It’s important to not operate under the radar. There are laws and regulations in place when it comes to financial recording and reporting.
The good news is that all of the efforts toward compliance can only help you when it comes to tax time. And this is another big reason you need a good bookkeeper: tax prep. Books that are kept in a timely manner, and kept accurately throughout the year, make for an easy and low-stress tax season. No scrambling to gather information; it’s already there for you, recorded daily by your trusty bookkeeper.
Instead of spending time wrangling your financial information and trying to decide what you can and can’t do yourself, take a look at hiring a professional so your business can grow and thrive with you at the helm.
Learn more about how a bookkeeper in Duluth, Georgia, can help your business, and download a free report on maximizing your use of QuickBooks here.
