Do you wait till the last minute to do your bookkeeping?
If you do, unfortunately you are not alone. I received a call from someone on October 14th at approximately 5:30 pm, and this person wanted me to do his bookkeeping for the entire year of 2012 in time for him to mail his tax return by the extension deadline of October 15th! I really felt bad for the person. I could hear how frustrated that they were because they had waited until the last minute, but in no way could anyone get an entire years’ worth of work done in less than a day and then on top of that, the CPA still has to have time to do the tax return. Well I take that back. You may be able to throw something together but the likelihood of there being errors and oversights are very high, when on that tight of a time crunch. Unfortunately, I had to turn him away and I really hate to turn business away, but if I do not feel like I can do best work possible, I will not take on the work at all.
Besides the fact that they are missing out on all the information that their companies financials tell them about their business, when someone waits till the last minute to get their bookkeeping in order, they are going to pay much more than if they would have paid someone to keep up on their financials all along.
So how do you get your bookkeeping in order if you do not have time to do it, or know how to properly do it? – Hire someone to do it for you, and don’t wait till the last minute! I know you might be saying that you cannot afford to hire a controller or bookkeeper to keep your financials in order. This person does not have to be an employee, you can hire outside companies to do your bookkeeping for you, at a fraction of the cost. You may not have a big company, but you still need to fill the needs like a big company. Just because you do not have a bookkeeper, does not mean you stop paying the bills, right? Many business owners wear many hats and do not have the time to do everything, and while you may be great at your business, keeping up on your bookkeeping and analyzing your financial data to make good business decisions many not be your strong point.
So start planning now for year-end and save yourself all that last minute frustration. Bookkeeping firms can do your work for your daily, weekly, monthly, etc., whatever fits in with your budget and the amount of work that needs to be done. The key is to get keep the information up to date so you are not scrambling at the last minute to get everything done, and that you have the information that you need to make good business decisions to grow your business. As I said in an earlier blog – The financials of your business should tell you a never-ending story and lead you through a maze of paths to that pot of gold!
If you are in need bookkeeping help to grow your business, Dailey Bookkeeping Services would love to help you write your story. The owner, Jacqueline Dailey is a Certified Public Bookkeeper, a Certified QuickBooks and QuickBooks Online ProAdvisor, a Sleeter Group Certified QuickBooks Consultant and a Xero Certified Advisor. We work remotely so we can work with any company located in the U.S. If we can help you with this process or provide you with custom reporting, please give us a call. If we cannot help you, we will refer you to someone who can!