Sometimes bookkeeping for small businesses can be frustrating, both for you as an entrepreneur and for your bookkeeper. They slow you down by asking questions about things that you would rather not deal with, like:
- What did you buy at Wal-Mart for $147.52 last September, and where is the receipt?
- What checks were included in one of the January deposits?
- Do you have the social security or tax id number for each of your independent contractors?
- Did you ever send an invoice to the customer for the last minute work you did?
- You don’t have enough money to pay all of your bills. Which bills would you like to pay?
Sometimes you want to say, “Just GO AWAY! I’m trying to get some business done here!”
But you love your bookkeeper, don’t you? Your bookkeeper provides information to the accountants, bankers and future investors. They maximize your cash flow. They keep track of your receivables and contact your customers that haven’t paid you if they run even a day late.
They know who your most profitable customer is and which customer you need to fire. They can tell you how much of your bank balance is available, including outstanding checks. They organize your files so you can find things without having to dig through piles of papers. They respond to the unexpected letter from the IRS that you have no idea what to do with. They even prepare checks for you to sign, and the envelope and the stamp. They do the work that you hate to do and may even cause you intense anxiety.