If you want to grow your business, you can't focus on being a jack of all trades.
ESPECIALLY when it comes to your business financials.
This week we're giving you 5 reasons why it may be time to stop doing your own bookkeeping and hire a professional
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Episode Show Notes :
Introduction: Is what you’re doing actually accounting?Â
The Meat :
Point one - stunted growth - people who do their own bookkeeping don't tend to grow that much. Consider all of the things that are involved with growing a business: Sales, Operations, Marketing, Customer deliv
Point 2: 5 signs that it is time to get an accountantÂ
Your QuickBooks or accounting system is a mess
You don’t know what you are doing
Your revenue exceeds $12K a month
You need financing from a financial institution
You want to apply for a substantial grant
Your tax returns are filed late
Part 3 here are a few things to keep in mind
Pricing - 2% -3.5% don’t be cheap
Quality matters if the firm has CPAs or more experiences s tat
Responsibilities may vary - if you are paying low price do not expect luxury deluxe services -
Lower price might mean less meetings
Screen share a math scenario lets say your average bookkeeper is $40 per hour x 2 hours a week and 4 hour sat month end
There is a difference between bookkeeping, tax support, cfo services etc
COURSES WE WANT TO DISCUSS:Â
how to pick the right finance help
Promote the small business program
Segment 3: Tips and Resources:
If after all this you decided, you know what I am still going to do my own accounting here are things we think are extremely important for you to learn/understandÂ
The Basics of the Financial StatementsÂ
The Types of Accountants and When to Use themÂ