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The Warning Signs of Requiring a Bookkeeper*





As your business grows, there is only so much time you can dedicate to handling your company records yourself. Starting you can easily rely on a spreadsheet template you sourced online, or even handle some accounting software you purchased to help, but as things get bigger your finances to start to get more complex.

When that day rolls around you are going to stretch yourself thin until you accept the reality that it is time a bookkeeper was doing this area. Some owners accept this early on, whilst others realise much later in the process, but you cannot ignore the signs that are there that it is a requirement.

Overworking
Around 39% of business owners commit more than 60 hrs a week to their business, which quickly leads to burnout from overworking. Every hour you work has a money equivalent tied to it, and if you add up the amount this time you are giving to your bookkeeping, you know the worth and the amount you spend on this area a month.

Compare the amount you are paying in the time dedicated to your bookkeeping efforts against that of professional bookkeeping services. You may discover that the rate of a bookkeeper in doing the job once instead of you dedicating hours to it every week saves a lot of money.






Falling Behind
When you fall behind on your books, the actual state of your finances are not correct. This in turn makes it much harder to understand your cash flow and discover how your business is performing financially.

Running blind to how your business is performing financially, as well as how to stop running in the red, is a dangerous game. One made all the riskier when you catch up towards the end of the tax year and have to step away from your business to decipher it all. Do it wrong and you'll be paying the penalties.

With bookkeeping services in Manchester, you will be provided with monthly financial statements that showcase where money is going and coming from, handing you an accurate presentation of your company's financial situation.

Leave it With the Accountant

Many business owners make the mistake of leaving their books untouched over the entire year, then dropping them onto their accountant's desk during the busiest tax month.

The mistake is not only that your account is more expensive per hour than a bookkeeper, but they also have the busiest period during the financial year-end where their time is precious in dealing with every client they have. This means they will not have as much time to help you as you may need in doing your bookkeeping.

Having bookkeeping services provide your accountant with up to date records saves a lot of time and expense from your accountant and goes a long way to making sure that nothing gets missed that could lead to a fine from HMRC.

Having a bookkeeper take these stresses from your working life is a benefit and one that allmajor ows you to concentrate on the real task at hand - running your business.

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