Hiring a bookkeeper is one of those things that every good businessman does. This is not because he has a lot of income at his disposal, but because he knows to play his steps right. And the most important truth is, you can hire a professional and spend money behind them, or you can choose to undertake all the activities yourself and end up taking a risk larger than your business itself. A bookkeeper is ideally your best friend in the business, a reliable one at least.
When you choose to do the bookkeeping yourself, you are not only involving your intellect into something that is not adding profit, but you are emotionally entangled in the whole process of evaluating your business. A bookkeeper does this job in the most clinical and detached manner and that is his/her job. People also tend to hire freelance bookkeepers who might be fairly new to this skill trade and could possibly lead you in the wrong direction.
Certain functions that make a bookkeeper vital to your business:
- A bookkeeper will let you not have a single worry about your accounts payable or receivable. The mark of a good bookkeeper is working behind the scenes and ensuring that you have paid all your bills and received all your payments before its too late to reconcile.
- A bookkeeper always has one eye on your cash flow. This enables you to be informed in case the account balance drops below the bare minimum and any excess funds are safely kept in the bank for future use.
- For someone who is starting out a business or runs a small scale business, a bookkeeper can be your guardian. It’s fairly simple to let the expenses go out of hand in such situations and this is when your bookkeeper will help you stay on track.
- Bookkeepers have a very strong sense of responsibility. Merely due to the fact that you can ask them to show the books at any time. Bookkeepers have to ensure that each cent has been accounted for.
The ideal bookkeeper measures their success by the revenue they help you generate, the losses they save and transparency in every transaction.