Is Your Business Ready for Accounting and Bookkeeping Support?
As a business owner, you’re faced with hundreds of decisions all day long. No magic playbook exists to help you answer every question, but we are here to help you determine if your business is ready or needs the help of a professional accountant and bookkeeper.
If you find yourself wondering “How to Know it's Time to Hire a Bookkeeper for My Business,” you’re in the right place! Tally Services is here to help you decide if your business is ready for a professional bookkeeper, accountant, or fraction CFO support. Read this guide to help you decide if your business is ready for accounting and bookkeeping support:
Your Books Take Too Long
If managing the books is taking too much time away from growing your business, creating products, or servicing clients, it might be time to ask for help. Your books should never cost your business, and they should never take away from profitable activities. Consider this scenario: Say you charge $200 per hour for your services. If you have to spend 4 hours per month on the books, you’re missing out on $800 of profit. Those same 4 hours of bookkeeping work will likely take a professional half the time, meaning you can pay them to do the work and spend the time with clients making money. You’ll still come out ahead.
You’re Making Mistakes
It’s no secret, you likely didn’t start your business because you love the accounting side of things, but rather because you’re really good at something or you have a deep passion for your product. This is a great quality of a small business owner, but it can lead to confusion around the books and mistakes in accounting and tax filings. It’s okay if this is you, but it might be time to ask for help. This will free you up to work on other things you’re good at and ensure your business’s books are taken care of.
You Put It Off
It might be another scenario altogether:, perhaps you’re good at your books but you hate them or you simply don’t have time for them, and as a result, you put the accounting tasks off over and over. The accounting side of your business needs time and attention, like it or not. It’s better to ask for the help of someone who will keep your books in line than continue to let them slide, get disorganized, and become a monster problem.
Your Books Are Becoming Too Complicated
As businesses grow, so do the accounting, invoicing, and payroll tasks. While you might have started out as a one-person show, now you have to think of others and spend more time on the financial side of the business. Not only does this take more time away from running the business, but it also just gets harder. If you find yourself in this place, ask for help from an accounting professional near you. They’ll bring experience to the table and help you through the complexity of a growing business’s needs. Asking for accounting help will also give you more time to continue growing the business.
You Need More Time to Grow Your Business
If you’re spending too much time worrying about your books, you don’t have the bandwidth to develop new product lines, find new customers, or build relationships. Asking for help frees up time to grow your business and spend time on the things that need your attention the most.
If you think your small-to-mid-sized business is ready for help, Tally Services is here. We provide local accounting and bookkeeping services to businesses of all sizes and in all industries, and we’re here to do the same for you! Contact us today to learn more about our team of accounting experts and how we can help your business grow and thrive. Ready to get started? What are you waiting for! Let’s connect!