Can I teach myself bookkeeping?
Can I teach myself bookkeeping?
It depends on your situation and how much time you have available. We'll go over some options for bookkeeping self-help down below. However, we do recommend calling in a bookkeeper from day one. Here's why:
Bookkeepers will work with your specific needs
Any professional bookkeeper will take time to sit down with you and learn about what you do - retail, retail plus online sales, just starting out, etc. This means they'll know exactly how to navigate QuickBooks (or whatever bookkeeping software your business uses) to make bookkeeping easier for you in the future. Want to learn more about QuickBooks? Head to Linda Rost's Better Bookkeepers. At Better Bookkeepers we offer a range of bookkeeping services to small businesses in San Jose and surrounding areas. View here for more info.
They'll know how much to charge
Bookkeepers are trained professionals. They don't just bookkeep, they bookkeep for YOUR industry. Your bookkeeper will be able to give you an hourly rate that reflects what other bookkeepers near me are charging - it's not always cheap, but when you're saving yourself time and headaches down the road, it totally worth it.
They'll get really good at bookkeeping really fast!
As a small business owner, chances are there aren't a whole lot of people working with your books day-to-day. That means that finding ways to save time on bookkeeping is going to be really important to you. Your bookkeeper will be there consistently, learning your business and bookkeeping practices. They'll find ways to make bookkeeping easier for you - streamlining procedures, etc.
Bookkeepers are professionals that will help you save time in bookkeeping over the long term. If bookkeeping is only a small part of what you do, it's worth calling one in from day one. Hiring bookkeepers is also critical if bookkeeping isn't your favorite part of the day! Although there are some things you can try on your own first (down below), chances are hiring a bookkeeper isn't going to break the bank or have serious negative impacts on your business.
They know how to use Quickbooks
Professional bookkeepers know how to get data into bookkeeping software like QuickBooks, and more importantly - they know how to get the right data in there. Many bookkeepers are familiar with manual entry that can be time-consuming, but not accurate or reliable over the long term. A bookkeeper will help you set up your bookkeeping system once initially, then use it each month to keep your books up-to-date.
If you're still reading this, chances are bookkeeping isn't your favorite part of the day - which is understandable! Here are some things you can try before hiring a bookkeeper:
Use invoices for all transactions
Invoicing clients helps cut down on manual errors in bookkeeping. The bookkeeper won't have to sort through invoices and receipts, and you'll be less likely to lose anything or accidentally input a transaction twice.
Use accounting software for bookkeeping
Accounting software like QuickBooks Online is becoming more common as time goes on, so bookkeepers should be familiar with it. The learning curve might be a little higher than using invoices, but if bookkeeping isn't your favorite part of the day - at least you can set up an automated bookkeeping process that takes no time at all after the initial setup!
Create checklists for bookkeeping tasks
Chances are bookkeepers aren't just sitting down once per month to enter transactions into bookkeeping software. They're checking for items like whether invoices have been sent out, how many bookkeeping tasks need to be done for the month etc.
If you create a bookkeeping checklist before each bookkeeping session, you'll be able to ensure that bookkeeping is being completed regularly and effectively without having to do it yourself.
In the end, bookkeepers are professionals trained specifically in bookkeeping practices for your industry. There should never be a reason NOT to hire one in from day one (or ASAP). However, if you're looking for more ways to make bookkeeping easier - try these tips first!
I hope you found this post helpful in understanding the importance of having a bookkeeper from day one and some of the benefits they can bring to your business. It’s always better to be proactive than reactive when it comes to finances, and by hiring a bookkeeper early on, you’re setting yourself up for success down the road. If you have any questions about bookkeeping or would like recommendations for good bookkeepers in your area, please don’t hesitate to reach out! I love hearing from my readers.
