Why You Should Hire a Bookkeeper
Whether you’ve just started your small business or your established local nonprofit is expanding, having a bookkeeper is never a bad idea.
At Good Steward Financial Company, we understand the difference bookkeeping can make for organizations of any size. We are a virtual bookkeeping service designed specifically to serve the needs of small businesses and 501(c)3 organizations.
We have innovative financial solutions, from annual audit assistance to fractional CFO services.
Now, you might be thinking, “I keep track of my own personal finances, so can’t I do the same thing for my business?”
Or maybe, “My organization is small, and we have limited resources! Isn’t it cheaper to just do my own books? Isn’t that what QuickBooks bookkeeping services are for?”
Well, the answer to those questions is “no.” But don’t worry! There are so many reasons to hire a bookkeeper for your small business or nonprofit.
Bookkeepers Save You Money
When your organization is small, you may think that a bookkeeper is an unnecessary expense.
However, bookkeepers save you money in small but critical ways.
They perfect your cash flow management so that you don’t miss an outstanding invoice from a client or get a late fee on a bill– not to mention saving you the valuable time you would spend doing all those activities yourself.
When tax time comes around, your bookkeeper has already compiled all the data that you need, making sure you don’t miss a deduction.
Speaking of taxes, you may be currently using your accountant as a bookkeeper. If you just hand your accountant a pile of invoices, receipts, and account statements every April, they will have to organize the documents.
While accounting and bookkeeping are similar specialties, accounting is the process of analyzing the records that bookkeepers collect.
If you prefer to keep your finances with one trusted firm, you may want to consider a virtual bookkeeping service that offers full-service bookkeeping and accounting.
If your CPA has to spend time doing bookkeeping tasks, they will charge you, and they won’t even provide you with the detailed records that your bookkeeper will. And remember, CPAs generally charge more per hour than bookkeepers.
However, bookkeepers don’t just save you money in the short term. They save you money long-term, too. The records that bookkeepers collect give you a financial overview of your organization.
Since professional bookkeepers come from outside of the organization, their objective perspective provides valuable insights.
With the data your bookkeeper collects, you can discover areas where you are overspending, as well as areas where you could use more funds. You can build a better budget and strategize for the future.
Bookkeepers Keep You Accurate and Up to Date
Bookkeepers are fiscal professionals. They are trained to perform all the details of data entry, invoicing, and preparing financial statements with maximum accuracy and efficiency.
Bookkeepers help you catch your own errors, preventing you from wasting time or energy down the road, and they also ensure that your cash flow management is consistent.
Bookkeepers ensure correct tax filings. They keep track of your business or nonprofit’s tax forms, from 1099s to estimated tax payments. Many will help you file your taxes in collaboration with a CPA.
A bookkeeper can also assist with payroll. Accurate payroll is a necessity, both for compliance with government regulations and for maintaining a positive relationship with your employees.
When a bookkeeper oversees your finances, you can rest easy knowing that your business or organization is in good hands.
Bookkeepers Let You Focus on What Matters
When you started your organization, you wanted to have a positive impact on your community. You saw something that could be improved, and you knew that your small business or nonprofit could make that difference.
The tasks involved in bookkeeping are time-consuming and detail-oriented. They require a lot of hours, energy, and focus– things that you should be giving to your organization’s mission, not your books.
For your small business or nonprofit organization to succeed, you need to devote your talents to the places where they can be best utilized. Unless you are already a financial professional yourself, bookkeeping is not that place.
Instead, use your bookkeeper’s data to focus on critical development issues, such as marketing, strategy, and funding. Bookkeepers help you channel your passions to bring your dreams to life!
Virtual Bookkeeping Services with Good Steward Financial
Good Steward Financial is your one-stop-shop for full-service bookkeeping and accounting for your small business or 501(c)3 nonprofit organization.
As a Christian company, we are dedicated to uplifting others, and we provide a wide variety of services that meet your unique needs, including:
- Annual audit assistance
- Cash flow management
- Fractional CFO services
- Payroll processing
- QuickBooks bookkeeping services
Wherever you are in your search for a bookkeeper, we would love to talk with you! Contact us with our online form, or give us a call at 336-347-3851.