5 ways hiring a good bookkeeper saves you money and helps your company grow

A good bookkeeper does a lot more than pay the bills. They manage your lifeblood: Cash.  Cash goes out of your company to pay for everything to sell your product or service, and run the company, before
your sales can be made.  The trick is to have enough cash to make your
sales and keep your company alive until your customer pays you and your
cash comes back in. If you’ve borrowed the money to make sales, your
cash flow is a lot different from a competitor who did not have to
borrow. After 3 years your net profit will be far smaller than your
competitor's if you don't manage your debt and control your cash. Little
things add up over time, and a hiring a good bookkeeper is the best way
to save money and help your company grow.

5 ways hiring a good bookkeeper will save you money and help your company grow

  1. Negotiates with vendors to secure optimum payment terms
  2. Doesn’t let you overdraw your checking account, pay your credit
    cards late, or pay unnecessary finance charges or bank fees
  3. Doesn’t let your customers pay late
  4. Doesn’t let you sell to customers whose balances are too high
  5. Fully utilizes savings plans, health benefits, payroll, and the newest tax incenti

How much does a good bookkeeper cost? You can start
out with a bookkeeper who works only a few hours each week, or once or
twice a month, and expect to pay between $40 and $65 per hour for her
time. You should see an improvement in your cash flow in less than 3
months and as your bottom line grows, so will your business. Eventually,
you’ll hire your bookkeeper full-time, at a lower hourly rate, with
benefits.

Where do I find a good bookkeeper? A good match for
you is a bookkeeper who stays abreast on updates and changes to the
accounting software system you use, so find someone who is part of a
professional group or network that supports bookkeepers in their ongoing
software educatin. If it's QuickBooks you use, search online for  “quickbooks help wanted  " and use the free "post your project or job"
to send a direct line to the nation's QuickBooks professionals. It’s
always great to get a referral from someone you know, too, so ask your
business-owning friends who they work with, ask your CPA, and ask your
trade association for bookkeepers who specialize in your industry.

How do I make space for a bookkeeper if I work from home, or don’t have an extra desk?  A
good bookkeeper has a business structure and communication systems
already in place for quick and effective transfer of information,
regardless of where service takes place. This that allows for
flexibility and change to support you as your business grows. You and
your bookkeeper might have a regularly-scheduled meeting so you can hand
over new receipts, bills, statements, etc. and to go over your
financial reports and strategies together. Or you might scan your new
info and have your meeting by phone. Regardless of where the bookkeeping
happens, a good bookkeeper will give you a report of your cash position
every time they do their magic.

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