Is it Time to Hire a Bookkeeper??

We hear it often in our Industry “I wish I had hired you guys sooner!” but how do you know when it’s the right time to transition from doing your books on your own to hiring an accounting firm? There are some major benefits to hiring an accounting firm with bookkeeping services:

• They can run your payroll, take care of all of your unemployment, federal, and state tax filings for your employees. If you have benefits, they can handle the contributions to 401(k)s or Health insurance.
• Bookkeepers can do as much or as little as you’d like. If you just need transaction entry and bank reconciliations, they can handle that. Or if you’re looking for someone to do sales tax filings, Accounts receivable, accounts payable, etc they can handle that as well.
• When it comes time to file your taxes, your bookkeeper and your CPA work together to file your business taxes seamlessly with minimal help from you. Some CPA firms even bundle these services into your monthly bill so there isn’t a huge tax bill to pay in April.
• Getting Audited? No problem, the bookkeepers and CPA will handle the majority of the auditor’s questions and get them the information they require. This will save you a ton of time and money in the end because the bookkeepers are making sure that all guidelines are followed and performed throughout the year to ensure that errors are minimal.
• Need updated financials for a loan or board meetings? This service is usually included in your bookkeeping fees and they are sent to you at the frequency you choose or as you request. No spending hours on the computer trying to figure it all out on your own.
• How do you rest assured that your books are correct if you are doing them yourself or hire an individual to do your bookkeeping? When you hire an accounting firm with bookkeeping services, the responsibility of delivering a clean set up books lies completely with them. Their sole job is to ensure your books are accurate and everything adds up.
• But the main benefit to hiring an accounting firm with in house bookkeepers is the time and savings to you as an owner. Your time is valuable and there are so many other things that you have to worry about and bookkeeping can be time consuming and frustrating. Bookkeepers are specially trained and can usually do the same work in a set of books in half the time. This frees the business owner up to actually run their business and increase revenue.

Is this something that you have been contemplating for a while now but for some reason you have hesitated? Are you worried the cost will be too much? Well, take the time and make the call to our office and you might be surprised at how reasonable it can be. And with the additional tax savings having a CPA and bookkeeper reviewing your accounts, it might actually pay for itself.