AD | As a business owner you’ll probably know that running a business comes with challenges. Having large amounts of capital and a healthy amount of regular clients is one thing (a girl can dream), but balancing your books is key for your business to thrive and grow. Which is where hiring a bookkeeper can come in useful. While bookkeeping is a skill that every business owner should have at least some basic knowledge of, many people struggle to keep their accounts up to date. So choosing to hire bookkeeping services is the sensible option.
Why should you consider hiring a bookkeeper?
There are many benefits to having an outsourced agent for your bookkeeping. If paperwork and numbers aren’t your thing, they’ll leave you free to concentrate on what you do best, ie, the products or services you offer. And an outside agent may not be so emotionally invested in your business, so they can take a more considered view.
What does a bookkeeper do for you?
The duties of a bookkeeper include managing cash flow, receipts, invoices and various documents that require accuracy in financial statements. Some bookkeepers also offer other activities such as running payroll if your business has employees, tax advice, and accounting software training in Xero, Clear Books, or Quick Books.
Financial guidance
One of the top benefits of using bookkeeping services in Manchester, for example, is working with your company on its day to day activities. This means they’re committed to the success of your business. While they’re not actually a part of your business, a reputable bookkeeper will provide clear and concise insight and advice.
They’ll be able to help guide you through the rough patches as well as the good times. And if you have a clear picture of your company’s financial strengths and weaknesses, it makes it easier to steer clear of any trouble and worries.
Internal peace of mind
Sometimes partners in a company will take on the accounting and balancing of the books. While this can be a positive when things are going well, what about when things start to not measure up? The finger of blame can easily be thrown in directions that can cause internal conflict, even when it boils down to a simple mistake.
Having an external bookkeeper reduces these instances that can result in loss of confidence in partnerships by presenting accurate books and financial reports. Hiring a bookkeeper who will put the interests of the business first and foremost goes a long way towards avoiding internal strife between parties.
Full expertise
Professional bookkeeping services provide a business with the most up to date accounting and auditing services that work for both large and small businesses. If engaging a bookkeeper in Manchester, for example, you want to know that they’ve worked across the board with different sizes of businesses. And that they’ll know exactly what your particular business requires, as well as how to lower costs within your budgets.
In the same way as hiring a freelance blog writer, using a freelance bookkeeper instead of employing one in-house means lower costs. There are no additional employee pension, NI contributions or holiday pay costs, you simply pay as you go. When working with professional bookkeeping services, you can tap into their skills and expertise to accurately identify your profits, turnover, and losses to strengthen the financial position of your business.
Where to find a bookkeeper near me
Finding the right bookkeeper for your business is key, so your first step might be to ask around. Conduct a little networking, ask your friends who they’ve used and, more importantly, who they wouldn’t use again. Go onto Facebook and ask for recommendations. Search on Google, and read any reviews on Trust Pilot as well as their websites. Check if they’re registered on the Institute of Certified Bookkeepers as if so, this means they’ve met the ICB’s criteria on training, insurance, capacity and experience. Then you can draw up a shortlist of, say, three companies to talk to about how they can help you run your successful business and meet your financial goals.
Have you ever considered hiring a bookkeeper? Would you know what to look for if you did need to take on accounting support?
* This is a contributed post.
This isn’t something that’s necessarily relevant for me, but it made fascinating reading. There are so many different elements to it that I had never considered before – thanks for the really interesting read!
Thank you so much, Lindsey, I’m so glad it was an interesting read!
Having a bookkeeper is great when you want to have someone else handle the accounting and are experts at it. That way you can spend more time focusing on things you enjoy and do great on. I know for me, it would be great so I don’t need to worry about any potential financial laws I might be breaking with bad bookkeeping. Thanks for sharing these tips!
Nancy ✨
Exactly, Nancy, that’s one of the best reasons to hire a bookkeeper – they could even end up saving you money 🙂
I had no idea there is an Institute of Certified Bookkeepers, that is good to know. A friend is a bookkeeper and I can ask her if I need help, but it can be tricky if you don’t know anybody.
Oh you’re lucky to know a bookkeeper, that must be so handy!
I used to run a small business and accounts and the like were the bane of my life. I can certainly see the benefits of hiring someone, especially on a freelance basis would be huge. It is great to have the basic understanding of course, but to know it’s in safe hands and takes the stress away from yourself. Sounds like a win win to me.
Great advice Lisa, Maybe one day I might need one… I can dream right!
Paperwork is not my favourite thing either, I keep an Excel spreadsheet and record any payments or income as I go (a tip from a bookkeeper friend!). And yes, I know what you mean about dreaming 🙂
I can’t afford to hire anyone for this right now so I do it myself. But in the future, I could definitely see myself doing it as I hate dealing with all that stuff. Great post and advice! Siobhan ♡
Thank you, I’m glad it was helpful!
Interesting post! I’ve never even considered using one before but maybe I should think twice!
There are a lot of benefits to outsourcing 🙂
Cool piece of advise, I will think about it
Thanks for sharing
💙❤️💘⭐️
https://uncuaderno4cero.wordpress.com/
Thank you, glad it was useful.
This was such an interesting read! I think that hiring a bookkeeper as a business owner would be so helpful, mostly not knowing what really goes behind the scene and as you said for peace of mind that you’re doing it right! Thanks for sharing Lisa x
Thank you, Cristina 🙂 And yes, I know it’s an expense but the peace of mind is such an incentive! x
A really great post Lisa! For me since going freelance it was the numbers that overwhelmed me but I am so glad I got a bookkeeper as all I need to remember to do is to provide them with the receipts haha.
That’s great to hear, Hannah, I’m so glad it’s working out for you!
Hi Lisa. Working in the accountancy profession I can confidently say that a good book-keeper is worth their weight in gold! If you turn-up to your accountant with a shoe-box full of jumbled receipts and just leave them to sort out the mess for you, they will, of course, do that. But, the chances are that it will be more expensive for them to complete it than for a book-keeper to do it on your behalf. From a cost perspective, it may be preferable to have a book-keeper to take your receipts and record them for you, and then pass those completed records to your accountant to prepare accounts and tax computations/returns.
Straight from the horse’s mouth (as it were) that’s really good to hear, Richie. And that’s a great solution, the best of both worlds, thank you 🙂
What a great post! I can imagine that these tasks can be quite difficult and tedious when you’re not quite sure what you’re doing so outsourcing is definitely a great option xx
Thank you – and yes, outsourcing is definitely the way forward! x
This is really helpful. I know further down the line, if I continue to grow my blog and work on my blog, then I’ll want to look into hiring a bookkeeper or accountant or something because you have NO IDEA how rubbish I am with numbers, tax, legal stuff hahaha! xxx
Oh, it’s a minefield, isn’t it? So many things to think about! Thank you, Jenny, I’m so glad you found this helpful! xx
This is a great post about bookkeepers, I think I would hire one if I felt I really needed one because when it comes to things like tax and expenses, I’m bloody hopeless! x
Lucy | http://www.lucymary.co.uk
I know what you mean, haha, numbers and paperwork is such a headache! x
I love this post! I definitely think that a bookkeeper is worth it. It’s always important to admit that you need help and outsourcing is the best option for you, otherwise, you can get so stressed out and end up spending a lot more money on something that could have been outsourced, to begin with.
Yes, this is it exactly – why not outsource something that takes up too much of your time to someone who loves doing it and will do it faster!
Great advice for small business owners who need to free up more of their own time and energy! While it’s fine to do it yourself perhaps in the early days, it’s certainly worth outsourcing to an expert at some point in the future so you can work on growing your business. 🙂
Thank you so much – yes, it can seem scary when you’re starting out but in time I do think it’s worth outsourcing if you can, much better to focus on what you’re really good at and enjoy 🙂
This is great! I’m actually looking into finding out more of the business side of blogging and getting all my ducks in a row lol. A bookkeeper is one of the people I need to be on the lookout for! I’m not organized enough to be able to do it myself lol Thanks for sharing x
http://www.lynnmumbingmejia.com
Oh that’s great, I’m so glad it was helpful! x
Great tips, Lisa. This definitely would be a relief to have a bookkeeper take care of this stuff. Sometimes it’s difficult to handle everything when you have a business. Thank you for sharing!
You’re welcome, Jack, I’m so glad you found this post useful 🙂
So informative! Thank you for sharing!
Thank you, I’m glad you think so 🙂
My friend is a bookkeeper so I’m not sure why I haven’t thought of hiring her! I guess I just figured that since my business is so small, it would be more of a hassle to hire her than to just do it myself. These are great points. I just may have to chat with her about what she could help me with and what she would charge for a small client like myself.
I think that’s a really good point – we think our businesses may not be big enough to warrant outside help but I’m sure your friend would love to help you out as a small business and a friend!
An informative and interesting read. Sometimes you have to stop trying to do everything by yourself and leave it to the experts. Good advice! xx
Thank you so much, I’m so glad you found it helpful 🙂 x
I could definitely use a bookkeeper these days! Anything I can outsource to take some stress off my shoulders is a good thing, I say!
That’s the whole point, isn’t it? Less stress = happy life!
This is such an interesting post. I never actually thought about hiring a bookkeeper but you made some good points here.
Antonia || Sweet Passions
Thank you so much, I’m glad it was helpful 🙂
Great post! I think if I ever get to the stage of earning enough money, I will definitely get a book-keeper or accountant. I think it’s lovely to hand over the work to someone who is trained and knows what they’re doing, and I really appreciate all these great tips. Thanks for sharing x
Absolutely, I would LOVE to hand over all the money stuff to someone who enjoys that kind of thing – one day! x
Interesting and informative read – great post!
Emma
Thank you, glad you enjoyed it.
This is defo something I’m going to look into doing. My sister loves her accountant and he helps her out with so many things that I’d have no clue to find!
Great post!
Rosie
That’s really good to hear – your sister is lucky!
This was a really interesting read. While I don’t currently have a bookkeeper, it is something that I would definitely consider moving forward. Eventually, I would like to free my time to work mainly on the parts of the business that I enjoy most, the content creation and relationship building. This means having other people taking care of the remaining business operations and a bookkeeper is a big step in that direction! While I CAN do those tasks myself, I don’t particularly enjoy them and I’m not a specialist, so there’s a chance that there is valuable insight that I’m overlooking.
I’m with you 100% on this – yes, I can do the numbers and paperwork but I really don’t enjoy it all that much, I’d rather be writing content. Here’s hoping I can outsource at some point in the not too distant future 🙂
I think it’s important to know your own limitations and a bookkeeper is a must when you aren’t comfortable doing your own books. Great post. Thanks for sharing.
Thank you, Jodie, glad you found it useful 🙂
There are so many different elements to running your own business, isn’t there? Hiring a bookkeeper will make it that little bit easier, so you can concentrate on the nicer parts, won’t it?
Thanks for sharing!
Aimsy xoxo
Aimsy’s Antics
Yes, absolutely, Aimsy – that would be the dream! x
Very interesting read! I reckon if I went fully self-employed, I’d want to hire a bookkeeper xx
I think they’re a great investment for any SME x
It is definitely a good idea to have a bookkeeper. Online bookkeeping apps are great, but there is no substitute for an actual person keeping track of financial info. Plus, since keeping track of expenses is so important, having a bookkeeper is a good idea because you’ll have someone else besides yourself to look at your figures and make sure they’re accurate. Nice post!
Absolutely, I don’t think you can beat a real person, and it’s a really good idea to have a second, expert pair of eyes!
It’s such a good idea and takes a massive weight off your mind
Yes, a good bookkeeper can really help.
While I don’t need a bookkeeper, there were so many useful tips and it makes sense why hiring one would be a lifesaver for those who have a hard time knowing how much to spend, etc.
Thank you for sharing!
Loren | Plaid and Sugar
Absolutely, I think they can save so much time and stress 🙂
It’s super important to have a reputable bookkeeper and not just anyone who can do accounting. I’ve heard about so many stories of accountants stealing money from the business.
All the best, Michelle (michellesclutterbox.com)
Absolutely, you do need to be careful!
Thank you, Lisa, for explaining the multiple different advantages of hiring a bookkeeper for your business. I liked learning that a professional bookkeeper can help you get a clear understanding of the strengths and weaknesses of your business. I think that having a bookkeeper would also help to save you and your employees time which would improve the overall productivity of your company.
Thank you, Charlotte, I’m glad this article was helpful.
I loved when you talked about how it is important to come up with an efficient bookkeeping system for your business from the start.thanks for this information
Glad you found it useful 🙂
I liked how you pointed out that a having a bookkeeper can help you to focus on the things you’re good at if you aren’t great with numbers and paperwork. My friend has a business that’s growing really well, but the bookkeeping is starting to get hard for her. It sounds like this could be a good solution for her to get her focus back on what she’s good at.
Absolutely – I hope your friend can find someone who can help her 🙂
I like how bookkeepers can give financial guidance. That is what I need help with right now. So I’ll see what I can do about hiring a bookkeeper.
Good luck, I hope you can find one to help 🙂