Doing your own bookkeeping – it’s a big mistake as a business owner

Many business owners think that because they are a small business, that they can do their own bookkeeping to save money.

Well that is probably one of the biggest mistakes I hear and see from many of my clients, they think they can do it all at the beginning to save money, but in the end, they not only waste a lot of time but money. I find that’s when small errors become large ones down the track.

Even though there are so many software packages to use out there in the marketplace for the small businesses ie Xero for example and many business owners feel they can use the software and there isn’t the need for a bookkeeper. Well there is so much more to bookkeeping then entering your expenses and income for the month. Many business owners don’t understand bookkeeping or they have their wife or sister do it for them, when in the end I receive the phone call from the wife or sister asking how to do something.

We all own vehicles, but do we all work on our vehicles each month or every quarter and service it. Maybe we can change the oil or put air in the tyres, but do we really know how to service the vehicle correctly with all the electronics. No, we take it to a mechanic, who is qualified and trained in this area. The same applies as a Bookkeeper, I have studied and worked in the industry for over 20 years and have learn’t all the aspects and know of all the current changes within the industry.

So next time you think you can do your own bookkeeping yourself, then think again. Do you really know all the in’s/out’s when it comes to bookkeeping?

Contact me today : Maree Punzet on 0429 363 047

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We are a full service, in-sourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring.   When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!