When to Outsource Bookkeeping: “Call it Quits”

When is it time to call it quits?

  1. If your books require daily or weekly attendance
  2. Spending too much time doing it yourself
  3. Separation of Duties
  4. Numbers make me nervous or anxious
  5. I hate bookkeeping

Always think in terms of Opportunity Cost, the time spent doing one thing is a potential loss from doing the other. Business owners face this reality daily! As one grows, the apparent need to outsource bookkeeping becomes prevalent. One should always spend more time retaining and acquiring clients and not handling payroll, financials and other accounting services.

It’s time to hire a Bookkeeper when you’re too busy to do it yourself. When you start to get behind, that’s a sure sign to “call it quits”. Or even if you never started, it’s never too late to establish financial success for your business.

Not having the patience, energy or mental capacity is the next sign. Some find it to be boring and tedious, so why endure the pain any longer? If you’re not doing it well; bank recs, categorizing, math… then move on. Outsourcing ensures your business is in compliance and reduces internal fraud and misappropriation. As business owner, you should feel confident that your books are covered!

Lastly, you’re losing the will! If you strongly dislike bookkeeping it’s time to “call it quits” outsource. Assist And Align will gladly alleviate your stress, anxiety and burden of organizing your finances.

You should know as a Business Owner…

  • How much did I make in the month of July?
  • How much should be set aside for taxes?
  • Can I pay myself “x” amount?
  • How much should I put aside for Retirement?
  • What’s my 6 month’s average?
  • What is the total of my business expenses last month?

If you don’t, it’s alright! Look for a Bookkeeper who can tell you this information in the click of a button, a quick phone call or provide you with the statements for you to decipher yourself.

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