|Posted on September 16, 2015 at 7:25 PM||comments (0)|
Your books are not just a record of the financial history of your company, but it's where you keep your finger on the pulse of your business.
Timely, accurate records will provide the insight to help keep your business on course. The details in your books can show what products or services are profitable and which may need attention or even elimination.
Most business startups will involve the Owners or their family members as recordkeepers. At startup, this is both affordable and effective but as the business grows and evolves, there comes a point where the Owner needs access to their financial data but not continue to be the data entry clerk. Most move forward to hiring a part-time or full-time Bookkeeper. This can, however, be an expensive option at $10 plus per hour, payroll tax expense, and possibly having to pay for health care. Another option is to find a competent Bookkeeping Service.
For example, a business owner who had a full-time bookkeeper for several years, needed to expand production staff but was feeling top heavy on office staff. The client looked at net pay as the cost of this service and was certain it wasn't the issue. When showed that the $11 per hour or $440 per week, plus $40 employer tax, plus $70 for health insurance, well it was costing him $28,600 per year, not including other costs like Workman's Comp. Our service provides weekly services for this particular client, on location, for $100 per week ... no other fees. That's just $5,200 per year, for a savings of $23,400. His books are always up-to-date and balanced, he now gets monthly reports and analysis, off site remote support as needed, and advise on how to grow his business whenever needed for a small additional fee.
Free your time and move up to Professional Service. Call today for a free consultation.