OWNERS MANAGING THE BOOKKEEPING ALONE
Owners of small businesses must perform many duties. Most small business owners become small business owners because they are experts in the service they provide or because of the high quality of the product they produce.
If an owner is not knowledgeable of basic accounting principles, mistakes made in accounting, and the time (and possibly outside costs) needed to correct those mistakes, could mean the difference between a business making a profit or a loss.
With a limited amount of work hours in each day, small business owners need to spend that time doing what they do best: providing their service or producing their product. In most cases, the bookkeeping of the business should be delegated to a specialist.
By hiring a professional bookkeeper, the owner will save money that would have been spent on hiring an accountant to correct the mistakes.
This will also free up the owner’s time to actually conduct business and bring in revenue. The money spent on a bookkeeper will come back to the owner many times over given the time savings and all the mistakes that will be avoided.