When is the Right Time to Hire a Bookkeeper in White Rock, South Surrey BC?
As your business grows, you’ll reach a point where time constraints or the sheer volume of your monthly bookkeeping means that it isn’t feasible or smart to do the books yourself.
This is where outsourcing the task to a qualified bookkeeper proves handy. It’s more cost-effective to pay a bookkeeper or bookkeeping service than it is to occupy your personal working hours with bookkeeping tasks. It is a proven fact that DIY Bookkeeping take up more time than you can afford. Don’t take your own time for granted. Your time is valuable and you should be doing what you do best!
It’s Time to Hire a Bookkeeper When:
- Your bank statements have never been reconciled
- Reconciling your bank accounts (including credit card accounts) each month is one of the easiest ways to confirm that your financial data is accurate. Yet, many business owners who do DIY Bookkeeping, do not practice this.
- Reconciling your accounts each month will help identify data entry errors
- Your business operation is suffering because significant time is being taken away to do the books
- By spending your time bookkeeping, this is taking away from what you are actually good at; increasing revenue
- According to Gallup, 39% of small business owners work more than 60 hours a week. Don’t take your own time for granted. Not only does overworking lead to burnout, but every minute you spend on a task has a dollar equivalent.
- You worry that the books are not accurate
- If you are falling behind on your bookkeeping, this means that your small business’ books are not accurately reflecting the true state of your finances. This makes it close to impossible to understand the cash flow and correctly measure the health of your business
- CRA compliance has become complicated
- The tax rules on Worksafe, payroll remittances, GST, PST, tax rules on business deductions for income tax is very complex and compliance is helped greatly from the experience and education that a qualified bookkeeper has
- Depending on the industry, the rules around PST for the various provincial tax authorities can vary greatly and a DIY Bookkeeper is unlikely to be up to speed on these rules
- GST and PST audits are common, and proper compliance is important
- Paperwork has taken over your office
- Unless you are an extremely well organized person, it’s likely that your filing system for DIY Bookkeeping is in disarray. The paperwork for bookkeeping is on top of your sales leads and customer orders which is hindering your ability to run your business properly.
- A bookkeeper can help keep all of your accounting paperwork in order and organized
A Bookkeeper Can Help With:
Typical duties of a Bookkeeping Service include these essential tasks:
Find out more about Green Quarter Consulting’s Bookkeeping Services here…
At Green Quarter Consulting - Accounting and Bookkeeping Services for White Rock, South Surrey, Langley and Surrey BC, we are here to help. We can assist with guiding you through some of the Pros and Cons of having a spouse as your bookkeeper and why a professional Bookkeeping Service is, in our opinion, the best choice for your small business.
Contact us today at 778-791-2864 or 604-970-0658, let’s talk, or send us an email here and we will be in touch very shortly.