Business owners are always seeking ways to cut expenses. On of the biggest mistakes business owners and managers make when seeking a bookkeeper to keep track of their business finances, is hiring a bookkeeper who has little or no experience because they are able to pay them $10 – $12 per hour. But in the long run, they find themselves spending more to correct the mistakes created by the inexperienced bookkeeper. Inexperienced bookkeepers do not understand the concept of financial management when operating a business and keeping accurate, up-to-date accounting records is essential to operating a productive business. Even a minor mistake can lead to severe confusions if not properly handle.
Would you hire a financial consultant for your business that has no business experience? Would you hire a mechanic to work on your car who has never fixed cars? Would you put your life in the hand of a doctor who has never practiced? If you answer yes to any of these questions, you’re a fool!
The difference in hiring just anyone and hiring a professional service provider is so they can independently provide you with a service to give you a peace of mind and you can focus on other things.
When operating a business you have to consider the repercussions of hiring a bookkeeper who has little or no experience. If you do decide to hire a college student or your family member to manage you business finances, spend the extra money it will cost to have them trained and educated so they are able to become an asset to your business, not a liability. Proper management of business finances saves your company money. It allows you a better view of your business finances to make better business decisions within your company.
We’ve heard many stories from business owners and manager who took the initiative and hired an inexperienced bookkeeper only to find that it will cost them more money to correct the problems and mistakes. We’ve all heard the saying “You get what you pay for”.
Bookkeeping firms costs more money, but they are usually well-trained and competent enough to handle the different kinds of tasks to be completed in the financial accounting area. These bookkeepers are well-informed about all the processes that bring about more profits to businesses and know the detailed methods of effective bookkeeping. So taking help from the experts themselves can prove to be beneficial to your business.
Theresa Todman, CEO of Bookkeeping & More Services, LLC. For more information about how to run your business efficiently visit www.bookkeepingnmore.com