Hiring a Bookkeeper for a Small Business: What to Expect
As a small business owner, it’s easy to feel that you have everything on your plate all at once. From sales & marketing to customer service, creative entrepreneurs often feel that they have to be everything for everyone, and it’s no wonder that bookkeeping often falls through the cracks.
If you’re having a hard time keeping your financial records up to date, it may be the time to hire a bookkeeper for your business.
But how do you hire a good bookkeeper? And what can you expect from working with a bookkeeper? We’re going to unpack these questions & more in this article — plus, share the behind-the-scenes of what it’s like to work with Desi Tax!
What Is a Bookkeeper & Why Do You Need One?
A bookkeeper maintains your financial records and provides you with clear & comprehensive financial information to make data-driven decisions for your business. Common bookkeeping responsibilities include:
Tracking income and expenses: data entry & recording your daily business transactions
Bank reconciliation: matching your bank statements & transactions to your accounting software
Preparing financial reports: making detailed reports of your cash flow to help you make better business decisions
Bookkeepers make it easier for you to navigate your numbers, which is critical to every business’s success.
If you’re a small business owner or a creative entrepreneur, you’re likely not going to need to hire a full-time bookkeeper for your business. Instead, you can work with a remote bookkeeping firm on a retainer basis.
Do I Need to Hire a Bookkeeper for My Small Business?
If you’re at the very beginning of your business journey, you may want to handle your bookkeeping on your own. But once your business starts growing, there are a few common signs that indicate that it may be the time to outsource to a professional.
You’re behind: You don’t have enough time to regularly update your books and keep track of your cash flow. As an entrepreneur, you need to have an accurate picture of how much goes in & out of your bank account to make good decisions. If you don’t, it may be the time to hire a bookkeeper!
You spend too much time on bookkeeping: Keeping your books up-to-date requires a fair amount of time and, as a business owner, you know that time is—money. Hiring a bookkeeper means that you’ll be able to spend more time being the visionary & growing your business.
You dread tax time: Filing small business taxes is often confusing, but if the words “tax return” instantly make you overwhelmed, it may be the time to find a bookkeeper. A good bookkeeper will be able to clean up your books and even help with your tax preparation & filing.
You don’t have a bookkeeping system: An Excel spreadsheet may have lasted you a while, but as your business grows, your bookkeeping system should too. A bookkeeper can help you organize your books better and streamline your bookkeeping process.
You simply don’t want to do your own bookkeeping anymore: If keeping your books up to date feels like a drag, hiring a bookkeeper for entrepreneurs will help you save time and energy.
When hiring a bookkeeper, it’s important to make sure that the bookkeeper you hire specializes in small businesses and understands how bookkeeping for creative entrepreneurs works. Small businesses have unique bookkeeping needs that are different from medium sized businesses or large corporations, so it’s essential to hire someone who’s the right fit.
Working with Desi Tax: What to Expect
Desi Tax is an award-winning remote tax firm for small businesses and entrepreneurs. This is what it’s like to work with us!
Step 1: Client Application & Onboarding
You’ll get started by filling out a client application form through our secure client portal. It’s going to ask you a few questions about your business so we can determine if Desi Tax is the right fit for you & how we can best support your business.
After a discovery call, we’ll take care of the formalities — contract & your first invoice — to officially kick off your bookkeeping service and begin onboarding. Desi Tax has a secure process in place to exchange passwords & accounting software logins for a smooth experience.
Step 2: Getting to Work
We’ll roll up our sleeves and get started on your account. Our typical package includes a record of your transactions, bank reconciliation, and detailed financial reports to empower you to make better business decisions. It’s everything you need to feel confident with your numbers.
You may also decide to include optional add-ons, such as cleanup services, quarterly/monthly video meetings, monthly Loom videos, tax preparation & filing, and 1099 filing services.
Step 3: Rinse & Repeat
The Desi Tax team will take bookkeeping off your plate and provide you with the objective information you need to make strategic and profitable decisions. Every month or quarter, like clockwork ⏰
Hiring a bookkeeper is a game-changer for small business owners. Learn more about Desi Tax bookkeeping services today!
