So I want to share with you the importance of keeping your business organized. I know it can be hard and overwhelming. The truth is, you may not always be caught up on filing or caught up on your emails or due dates. However, we at least need a system so that we try to keep things in order. So I have a few questions for you. How do you want to keep your files or receipts? Do you want to scan them and keep the electronically? Are you going to take a picture and upload the file from you phone and keep it in the cloud. Or will you keep paper copies organized by year and month in a file cabinet? How often a month will you keep track of you analytics or bookkeeping? Is it daily or will it be weekly? What time and what day?
Many people think it is cheaper to start a business without a bookkeeper. To be honest the cost is the same. Especially if you will need them to backdate you records. A bookkeeper is one of the most important business partnership you will have. Make sure that it is one of the first thing you budget into your startup cost for your business. Even if you reach out for a simple consult, there are things you need to know and do to make sure your financial records stay in compliance with your state and the IRS. I have listed 5 reasons you will need a bookkeeper in hopes to help you understand the importance of this partnership.
Many people don’t quite understand why they need a bookkeeper. I am going to share 3 short powerful reasons why you need a bookkeeper. A bookkeeper will keep track of your income and expenses. This is very important. It allows you to create financial reports that are needed and sometimes required for lending purposes, such as line of credits or investor opportunities. Many people underestimate the story your numbers tell about your business. You want to show a high cash flow and a low liability. The only way to control that is to have a bookkeeper/accountant that can help you produce financial reports that you can use to manage your business. Which brings me to tip #1. You need a bookkeeper to: