7 Signs It's Time to Hire a Bookkeeper
It's time to hire a bookkeeper when you don't know your monthly profit, your accounts aren't reconciled, you're months behind, tax season is stressful, you're spending hours a month on books, you're mixing personal and business money, or you're hiring employees or seeking a loan.
Most business owners don't wake up one day and decide to hire a bookkeeper. It's more of a slow realization. If a few of these sound familiar, it might be time.
1. You don't really know if you made money last month
If you check your bank balance to decide how the business is doing, you're not alone. But bank balances don't show unpaid invoices, upcoming bills, or loan payments. A monthly profit and loss does.
2. Your bank feed says "For Review" a few hundred times
QuickBooks Online is great at pulling in transactions. It's not great at categorizing them without help. A growing pile of unreviewed transactions is a sure sign the books are slipping.
3. Nobody has reconciled your accounts in a while
If you're not sure what reconciliation is, or the last one happened months ago, your reports may not be accurate. Reconciliation is what proves your books match reality.
4. Tax season is a scramble every year
If spring means digging through receipts and answering a long list of questions from your CPA, clean monthly books can change that completely.
5. You're spending hours on bookkeeping, or avoiding it
Every hour spent squinting at transactions is an hour not spent with customers, your team, or your family. And if you're avoiding the books altogether, the problem only grows.
6. Business and personal money are mixed together
Paying for groceries with the business card, or buying supplies with a personal card, makes bookkeeping and taxes harder. A bookkeeper can help you separate things going forward and sort out what's already mixed.
7. You're growing
Hiring your first employee, applying for a loan, adding a location, or taking on bigger clients all require accurate books. Growth is the best reason of all to get your bookkeeping in order.
Checked three or more? A bookkeeper will likely save you time and stress, and help you avoid costly surprises at tax time.
What to look for in a bookkeeper
- Reconciliation every month. Ask about it directly.
- QuickBooks certification. A ProAdvisor has passed Intuit's training and exams.
- Clear communication. You should be able to reach them easily and understand their reports.
- Clear pricing. You should know what you're paying and what's included.
- Experience with businesses like yours. Restaurants, contractors, and medical practices all have their quirks.
Let's see if we're a fit
I'm a certified QuickBooks Online ProAdvisor helping small businesses in Tennessee and across the US. Text, call, or email me and tell me about your business. Monthly bookkeeping starts at $300 a month.
Kari Stark is a certified QuickBooks Online ProAdvisor and the owner of Stark Bookkeeping Solutions, helping small businesses across Tennessee keep clean, accurate books. More about Kari