Technology has made doing things yourself a lot easier nowadays. We DIY our houses, retaining walls, websites, you name it! But what about our bookkeeping software? Accounting and project management software are now more user friendly and pretty looking. They are built to be intuitive and to save you a heck of a lot of time. But how do you know which one to use, which one is suited to your business and how you like to do things?
In a world of add-ons the sky's the limit for choice - some can multi-task, some just do one operation, some are cheap, some are very expensive. I see many a business owner sign up for a subscription to a well known software program only to find that down the track it really doesn't do what it needs to do. That is a lot of time and money spent with little or no outcome.
Bookkeepers are here to help in this respect, we don't just do the reconciling. Discuss what you want your accounting software to do for you. Does it need to talk to your project management system? Do you need to manage inventory? Is there a system that does it all? Bookkeepers can set you up with the correct software; sometimes they may even be able to pass on a subscription discount. They can train you up on how to use it, iron out any problems that may arise once it's up and running, and be there for follow-up help down the track.
Now you can carry on being the DIYer of your small business!
When I talk to small business owners there always seems to be one niggling factor to owning their own business - the late nights trying to sort out their accounts. You may not have a partner to do it for you, or a sister-in-law that is an Accountant.
Business accounts are usually the last thing on the priority list, because let's face it, most business owners are experts in a completely different field. They spend their day with customers and/or staff; they are doing the 'fun' stuff. All of sudden it's the night before the GST is due and the reconciliations haven't been done. You have two months worth of coding to do which takes you a couple of hours, and then just when you finally think you've finished, the bank statement doesn't balance!
The solution is a weigh-up of your precious time and the cost to outsource someone to do it for you. Think of why you went into business in the first place? The lifestyle, wasn't it? Hiring a Bookkeeper is a cost-efficient way of staying on top of your business accounts and tax compliance.
So now you can read that book in bed or stay up late catching up on those recorded episodes that you've had no time to watch.