Many small business owners, when they are starting out, think they can handle “doing the books” on their own and save a few bucks instead of hiring a part time or contract bookkeeper. Most of them come to realize very quickly that this can be a daunting task, not to mention, it can end up costing you far more than you would have spent by having a qualified person spend just a few hours a month making sure your books are in order.
Improperly kept books can really cost you in terms of stress and aggravation; lost time; lost business tax deductions; penalties for late filing or understated revenues on employment, business and federal taxes; and much more. Considering that you can have a professional handling all this for you for anywhere from $15-25 per hour on a contract basis, just a few hours a month, there is really no excuse to hinder your business’ growth by continuing to trudge through it all yourself.
What does a Bookkeeper do? Continue reading »