Whether you’re a restaurant owner, doctor, or lawyer — as a business owner, tracking your company’s finances is an important part of your job. Unfortunately, it usually lands at the bottom of the to-do list, far from “revenue-generating” activities like sales and servicing clients.

Accurately maintaining your company’s books can help you make more money and grow your business. Without financial records, you’d never be able to do things like invoice clients, calculate profit margin, or avoid overpaying in taxes.

This is why you need a skilled bookkeeper!

A skilled bookkeeper can help take the overwhelming and tedious task of monitoring your business’s financial activities and turn them into meaningful, actionable data that you can use.

So how can a bookkeeper make your life easier?

A skilled bookkeeper knows accounting and the most efficient and effective way to keep records. A bookkeeper will design a custom accounting system that meets the needs of your business and the industry you are in. The bookkeeper will also setup all of the software (such as QuickBooks) used to keep track of all of the financial transactions your business makes. They will also setup a process for how to enter and tracks transactions, how to save receipts, and setup reporting. Something that takes them a fraction of the time to setup, could take you hours to setup. Again valuable time that takes you away from managing your business.

Another way that bookkeepers can help simply your life is by entering/posting all financial transactions into your accounting software. Using receipts, invoices, credit card statements, and bank statements, bookkeepers record every single financial transaction of your business.

If this is currently in your job description, you know it takes a lot of time, patience, and a well-trained eye. Accurate records provide a solid foundation so you can better understand how your business is performing and see what areas can improve.

Bookkeepers make your life easier by regularly reconciling credit card and bank statements. This allows your bookkeeper to help uncover areas where you might be overpaying for materials or services, as well as situations where you may not be getting paid what you deserve or agreed on. This also helps the bookkeeper uncover any outstanding checks that have not been cashed and have become stale. Without note these stale checks properly, your business could show that it has more money than it has.

When a bookkeeper is tracking the money coming into your business, you can rest assured someone is making sure you’re getting paid accurately. #Bookkeepers become intimately familiar with your accounts receivables, so they’ll know who’s late with their payment or hasn’t paid the total they owe. Without someone regularly looking over this part of your business, you could be losing money without even realizing it.

Are you convinced yet that hiring a bookkeeper can make your life so much easier by saving you time and money? If not, here is another reason why you should hire a professional bookkeeper.

With accurate, timely records, bookkeepers can run reports like profit and loss statements and balance sheets. These types of reports are critical to helping you make wise decisions and understanding all of the implications of one choice over another.