When to Hire a Bookkeeper

Keeping track of your business’ finances is extremely important; however, monitoring cashflow is often neglected as a business grows. It’s easy to keep a casual awareness of the bank balance and not really see what’s going on in the business.  

When tracking your business finances gets pushed aside, it might be time to hire a bookkeeper. 

5 Signs You Might Need to Hire a Bookkeeper 

If you’re not sure whether or not you need a professional to assist with your financial monitoring, see if you’re catching yourself doing any of the following: 

1. You’re not keeping up with bookkeeping. 

2. You use the bank feed feature of your software, but the bank balance and your software bank balance display major discrepancies.  

3. You run a balance sheet and the numbers aren’t adding up 

4. Your employees aren’t getting paid on time because you’re too busy to run payroll. 

5. You don’t know which customers still owe you or what bills you owe. 

So, maybe you DO need a bookkeeper... how should you go about hiring a professional? 

Do You Hire an In-House Bookkeeper or An External Bookkeeper? 

This decision will depend on your needs and preferences: 

	In-House	External
Physical location with a lot of paperwork	X
Complicated invoicing requiring owner input & knowledge	X
Bill payment with controls in place	X	X
Record all transactions	X	X
Reconcile bank accounts, credit cards, & loans	X	X
Run payroll	X	X
Prefer someone accessible as needed	X
Don’t want any employees		X
Need assistance with other clerical duties	X

Regardless of who you bring in, you as the business owner will need to stay engaged and provide information on a timely basis.  

Ready to talk to a reliable bookkeeping firm? Reach out to us today!