Knowing When To Hire A Bookkeeper

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Knowing When To Hire A Bookkeeper
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• There are often several reasons why small
  businesses dont employ the services of a
  bookkeeper, but as most business consultants will
  tell company owners that hiring a bookkeeper
  could really benefit their business, knowing when
  to hire one is quite simple!
• While each of the reasons why small businesses
  dont take on a bookkeeper may be valid, they
  could still leave a company struggling to
  complete the necessary paperwork or to file their
  tax returns in a timely manner.
• So, if you have not yet taken the decision to
  hire a bookkeeper for any one of the reasons
  listed below, perhaps it would make good business
  sense to rethink your decision

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• Your business doesnt require a full-time
  bookkeeper
• This may be true, but most businesses would
  certainly benefit from a part time bookkeeper,
  and these can be found if you take the time to
  conduct a thorough search of available services
  in your area.
• Taking the decision to simply combine bookkeeping
  with other work within your company, may find you
  discovering that the person who you have assigned
  to the tasks may have no fiscal background and
  may therefore be less inclined to push
  bookkeeping duties and cashflow management to the
  top of their to-do list. They are also far more
  likely to make errors when they do get around to
  fulfilling those

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• tasks and duties, and will not have the ability
  to analyse the information to the benefit of your
  business.
• You think that you cant afford the services of a
  bookkeeper
• Despite the fact, that as you dont employ a
  dedicated bookkeeper you have had checks bounce,
  payments have been made late and youve incurred
  fees for late tax filing, you may mistakenly
  believe that you still cant afford a bookkeeper.
  
• Rather, by employing a knowledgeable and
  dedicated professional to handle your finances,
  you could save your company money, and big bucks
  in some cases.

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• The list of slip ups that small businesses can
  make when they leave their finances in the hands
  of those who have no fiscal background - or are
  too busy with their other tasks to be able to
  dedicate a good amount of time to bookkeeping
  duties is a lengthy one
• . Late credit card payments and the risk of
  future credit being compromised
• . Bounced checks resulting in account closure and
  distrust from vendors
• . Lack of financial awareness which leads to
  otherwise avoidable cashflow problems
• . Overheads arent being analysed extensively
  enough, and possible savings are missed

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• . The business may end up paying too much in
  taxes when deductible expenses arent accounted
  for
• Youre worried about the possibility of theft
• A certain amount of personal information and data
  must be given to bookkeepers for them to complete
  their work successfully, and many businesses
  worry about handing over such confidential
  information. This is often a barrier for company
  owners when theyre thinking about whether to
  handle the bookkeeping duties themselves.
  However, its possible to minimise the risk by
  following these simple procedures

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• . Implement a duo system whereby two people are
  involved each time money goes out or comes in
• . Make one staff member responsible for taking
  customer payments, and another for reconciling
  daily cash pay-outs against receivables and bank
  statements that way you can be sure that all
  sales have been deposited
• . Use the same duo set up for payments have one
  employee take responsibility for entering vendor
  invoices and check writing, while the other signs
  the checks and reviews what is being paid

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• As you can see, for every concern that a business
  owner might have about outsourcing their
  bookkeeping, there is an explanation as to why
  these concerns are often unfounded and plenty of
  ways to go about avoiding them in the first
  place. Most businesses will benefit from having a
  bookkeeper aboard, and so if you dont already
  have one, it makes sense to at least research
  your options.
• At Heyer Associates we proactively assist our
  individual and small business clients in meeting
  their goals. Our key area of focus is ensuring
  that our clients remain compliant with federal
  and state tax laws by providing them with high
  quality accounting and tax service in coral
  gables. Also, if you are looking for bookkeeping
  in coral gables fl, Heyer Associates would be a
  right option.