What have bookkeepers ever done for us?!
Are you thinking of starting up your own business, working for yourself rather than someone else?
It’s an exciting prospect, and one that more and more people are considering with a shift away from traditional ‘job for life’ employment patterns.
You don’t necessarily need an accountant, but do you need help with your bookkeeping if you have just started out as a sole trader or are about to take the plunge?
You may start out with the best of intentions, planning to do your own self-assessment, VAT returns and keeping track of all your invoices and expenses etc, but can you stay on top of it all when you are concentrating on the new business?
So, it comes down to the question (in Monty Python style) “What have the bookkeepers ever done for us?”.
Well, there’s the invoices!
Let’s face it, there’s no point in working for yourself if you don’t get paid – and that means sending out invoices. And chasing up the invoices if they haven’t been paid. And chasing them again.
Well, you can let a bookkeeper do that for you. Let them make the calls and chase up the invoices while you get on with the day job and don’t get bogged down when you could be out earning more money.
Then there’s the self-assessment!
It has to be done every year, and it’s a form-filling chore. And it can be quite stressful, especially when the process throws up the odd curve ball. Why not let a bookkeeper take care of it for you – they know the procedures, the pitfalls and the deadlines, and can save you money in penalties for filing your forms late.
And there’s the paperwork!
Don’t let your desk become buried in receipts, financial transactions, tickets, bills and other paperwork. You can hand it all over to a bookkeeper who will then present them in a neat format – whether in the form of a book, a spreadsheet or on software.
Don’t forget cash flow!
With all the paperwork at their fingertips, a bookkeeper can forecast cash flow for you - helping if you are looking for financial support or loans, identifying any issues which need to be addressed, and assisting you to grow the business. It all ensures that your business is built on solid foundations.
And they can save you money!
It’s the old adage – you have to speculate to accumulate. A good qualified bookkeeper will cost you around £25 an hour or will even offer a fixed fee. While they do what could take you twice the amount of time, you can be out earning money rather than getting your books in a muddle - plus a bookkeeper may well help you by identifying savings you can make.
It is also worth noting that bookkeepers and accountants do different things and have different roles to play in assisting business owners to manage their finances properly. Accountants do not normally want to provide a day-to-day bookkeeping services as described above. They are more likely to be consulted for verifying and analysing the data produced by the bookkeeper – if required.
So it all adds up to the fact that using a bookkeeper for your business can be beneficial. If you want to find out more contact Kim Kelly on 01952 402 632 or 07814 690 878 or firstname.lastname@example.org