Do I need a Bookkeeper?
Bookkeeping?! The word alone is enough to strike fear into your average business-persons heart! But at Parker Whitwood, bookkeeping to us is an art, and we love it!
What is Bookkeeping?
Bookkeeping is the daily recording of financial transactions. Transactions include all purchases, receipts, sales, and payments made by individuals or the business. Xero say that “bookkeeping is keeping track of your business spends”.
Bookkeeping ensures that your business records are up-to-date and are in an organised manner for the appropriate parties.
Bookkeeping is also a very useful tool in providing an analysis for your business performance, as it helps map out the total amount of expenditure versus the total amount of your in-comings.
Do I need a Bookkeeper?
When starting your own business, there are going to be so many different things to consider, especially the financial side of the business. You can obviously take this on yourself, but managing the financial operations, as well as trying to market and promote your new company, topped off with the actual running of the business, well, it just isn’t realistic.
Your focus should be on the actual services and products you are going to be offering and building a rapport with your customers. Not sitting there every evening, stressing yourself out about your income and expenditures! Here are some reasons why you should hire a bookkeeper:
Time is Precious
As already mentioned, having your own bookkeeper will allow you to focus on running your business and will free up time which can be used more effectively.
Leave it to the Professionals
We’re not saying you won’t be able to do your own bookkeeping, but a bookkeeper truly understands the task at hand. It is a lot better that a professional who has qualifications and certifications take over this for you – it leaves less room for errors, and late payments.
Having your own bookkeeper can also serve as a fresh set of eyes on your business. They will be able to advise you on where you can make savings, and where you may be overspending. Our bookkeepers look at hundreds of accounts per year so they are used to spotting areas which can help you maximise your profits.
No Missed Payments
We will make sure everything is paid on time – your team, your suppliers, your bills. Sometimes, things like this can be overlooked when you have so many other aspects of your business and personal life going on.
Hiring your own bookkeeper will be cheaper than having your own internal bookkeeper as you will avoid the cost of having a full-time employee.
We Love What We Do
Our bookkeeping team absolutely love paying bills and tallying up payroll – so if this just isn’t your cup of tea then hand it over and let us do it for you!
In a nutshell, Parker Whitwood can provide you with bookkeeping services, helping to save you time and a lot of money.