I say YES! Sometimes it just isn’t realistic to expect that everyone who is trying to get a business idea off the ground can hire a professional bookkeeper in those early days. Of course you still need an accountant with whom you check in regularly to make sure your financials are up to date, but really, there is no reason why you cannot do the bookkeeping yourself. The transition of bookkeeping to Cloud Accounting has made it possible for business owners to take on the job themselves, especially those in the trades or field services, solopreneurs, entrepreneurs and small businesses. Here are some things you can do yourself…
- Have access to your financial data anywhere, anytime.
- Look at your finances in real time! It’s instant and easy.
- Create direct connections with your bank so you can download your business’ bank and credit card statements automatically, eliminating a lot of data entry.
- Get your bank feeds to automatically feed into the right accounts and be sorted by category.
- Get automatic prompts letting you know who needs to be invoiced and when.
- Keep track of outstanding payments – all via your smartphone.
- Know exactly how your business is doing all the time with instant reports showing you where your financials are at compared to your projections.
- Scan your receipts with apps then ditch them. Eliminate those piles of paper on your desk!
- You can also use apps to send and receive your payments so there is no need to be around to sign cheques.
- There is no need for employees to call to check for their work schedule – you can use an app for timesheets and scheduling.
There are many benefits to doing your own bookkeeping:
- Don’t be tied to your desk! Lots of small businesses like those in the trades, operate on location. Take your business with you on your smart phone.
- You will always know where the money is being earned and spent. It’s only natural that if you are doing the bookkeeping, you are going to have firsthand knowledge of what your cash flow is, where your most profitable areas lie and where you can make savings.
- Learn a new skill and remain in control of your business! Cloud Systems have been designed with the non-bookkeeper business owner in mind. You’ll still need training on the system you use of course but the systems these days are very user friendly.
So are you ready to really run your business and take up the challenge of doing your own bookkeeping? We are here to help but don’t delay! We have seen too many clients coming to us for training and correct setup only after they realize they should have done that from day 1…
- We have trained many Trades, Entrepreneurs, Startups and small businesses over the years to be successful doing their own bookkeeping.
- We make sure your software is setup correctly, we train on small business consulting and give you all the tools you need to be successful. It is important that you have training before you start your books.
My belief is that as a small business owner/startup/entrepreneur who processes your own accounts, you will have a better understanding overall of your business and this will ultimately make your business more successful.