So your asking yourself why you need a bookkeeper or accountant? I usually fall back on 1 simple but major question. WHAT DO YOU PAY YOURSELF PER HOUR?
The usual response is usually an hourly rate… OK… sets say you pay yourself $50/ hour as a sole proprietor.
The response is usually 3-5 hours per week, and if I were to guess your definition of perfect records and mine are quite a bit different. How different? I am guessing your books are a glorified spreadsheet and a shoe box of receipts, and mine are finely tuned audit ready income statements and balance sheets.
So at the end of the day your bookkeeping costs you up to $250 per week or $1,000 per month!!! That is BANANAS!
And really, you are probably only attempting to keep records to help minimize the mess involved in preparing your year end tax return. And if it is for a tax return, think of the questions that you have been dying to ask an accountant about how to minimize your tax liability, but haven’t found the time or courage to reach out to a CPA.
Think of all of those 20 hours a month you could be using to bring in new revenues, selling your product or doing whatever you do to make your business special! Universal Bookkeeper is a remote accounting and bookkeeping solution designed to help you get your sanity back by having access to a real CPA. We are here to help you make financially informed decisions that propel your business in the right direction.