For individuals who have taken to earning income through providing goods or services on their own, it may seem second nature to write down how much is spent and earned on everything regarding their business. If so, then they may also wonder what the point is in hiring someone else to do their bookkeeping for them? Wouldn't it just be an unnecessary monthly expense?
Truthfully, there are two particular reasons why self-employed individuals should entrust their bookkeeping to someone else, even if they are keeping up accurate records on their own: Time and Accountability.
Time
It should come as no surprise that for the self-employed time is a precious commodity. Every minute spent working towards growing their business and raising their profits is another minute taken away from relaxing or spending time with their family or friends. And keeping track of all the finances involved happens to be one of the largest time-sinks there to make sure everything is done correctly.
By hiring an outsourced bookkeeper, the time normally spent doing that can be diverted towards anything else. Remember, it's possible to make up for the cost of hiring someone else to keep track of a business' finances, but time is something no one can get back. Don't waste it when you don't have to.
Accountability
When you are self-employed, it might be second-nature to try and keep up with how much is spent and earned since the entire reason most people go into business is to earn a profit. However, it can be easy to push back or forget to write down all of that information every single day or week. Things happen and sometimes there is no other choice.
However, when it's time to file your taxes or the IRS decides to audit you regarding your business' earnings or a deduction you claimed, they will hold you accountable for everything and expect you to provide proof. That means you'll have to scramble to try and finish all the little things you put off doing, or remember what it was that you forgot.
Having someone else do your bookkeeping means they'll have gone out of their way to organize the information and make sure its readily available for you. After all, that's what you're paying them for. And if you've been providing them with everything they need to do their job, they have no excuse.
Reach Out Today
Time and Accountability are two of the biggest reasons why more people are outsourcing their bookkeeping, even if they don't own a business separate from themselves like an LLC. They like having more time to enjoy the income they've earned and they like being able to hold someone else accountable for keeping things organized.
At the end of the day, outsourced bookkeepers and accounting firms live or die by how convenient they make things for their clients. They want to keep you happy so you'll keep paying them. And the price you pay every month to keep one on retainer is a lot cheaper than the alternative.
We'll not only help you get set up with a QuickBooks Online account and organize your transactions as they come in. That way, when it comes times to file your taxes and make your quarterly payments, you'll be all set. So get in touch with us through our contact page and we'll see what we can do to help make things more convenient for you.
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