July 26, 2018 3 minute read
If you’re a business owner, you might have asked yourself “Why do I need a bookkeeper?” Well for one, it can save you valuable time that you could be devoting to running your business – and it could save you money!
A qualified bookkeeper can do more for your business than you might think. Here are just a few examples:
They can manage your profit margins
A qualified KBH bookkeeper is an active partner in ensuring the success of your business. They will keep an eye on profit margins – and bring your attention to depleting profit margins or discrepancies. With assistance, you can to take proactive measures to bring your profit margins back in line and keep your business on track.
They can manage your obligations
You may be wondering what we mean by “obligations”. This could be anything from current vendor invoices, to government remittances. By having these things closely monitored, you could reduce interest, reduce penalties, and, when applicable, may allow you to take advantage of early payment discounts.
They can manage your income streams
Your bookkeeper can manage your receivables. This can ensure worthy clients get credit and that you get paid for the work that is done.
They can manage your cash flow
It is essential to the success of your business that you keep a critical eye on incoming and outgoing funds to guarantee that you always have cash on hand to meet your obligations. Your bookkeeper can help manage debt and lines of credit, ensuring you don’t have to scramble to make payroll or other obligations.
They can manage your processes and controls
Whether you’re a small business owner, or a large corporation, you need processes and controls. If one of your goals is to grow your business, then implementing processes and controls will allow you to truly understand your numbers, profits, and ratios. Processes and controls can allow any small business to take advantage of opportunities as they present themselves, ensuring that you will be well situated to handle any growth seamlessly.
If you’re still unsure whether or not a bookkeeper is the right move for your business, or you would like more information KBH is there for you. We offer a customizable outsourced accounting service that can be tailored to your business, ensuring your success.