Are you exhausted from managing your own bookkeeping? Think of all the time and energy you invest in this task, then compare it to the potential profits you could generate by redirecting that time towards income-generating activities.
Inman Connect Las Vegas, scheduled for July 30-August 1, 2024, promises to eliminate the noise and misinformation, provide answers to your burning questions, and unveil fresh business prospects. Don’t miss out on this opportunity!
Delegation is a crucial element for every entrepreneur aiming to work smarter instead of harder, especially in today’s competitive landscape. Let’s delve into why this approach is more critical now than ever before:
Delegating tasks to others offers you the freedom to network, exchange referrals, view properties, and ultimately close deals. It’s more comfortable to delegate activities that incur direct costs or contribute to a sale, like hiring a reputable stager or photographer, as these investments yield returns in the form of quicker sales and higher prices.
However, have you considered delegating tasks that indirectly impact profitability, such as bookkeeping? While it may seem daunting at first, outsourcing bookkeeping can save you significant time and effort. Here’s why you should reconsider handling your own bookkeeping and explore the benefits of seeking professional support:
1. Are you spending hours each month on bookkeeping, only to end up correcting mistakes with a CPA at a higher cost? Imagine the relief of accurate financial statements provided by a dedicated bookkeeper on a regular basis.
2. Delegating bookkeeping tasks can ensure you stay on top of actual expenses versus budgeted expenses each month, giving you a clear financial picture.
3. By engaging a bookkeeper, you can avoid overpaying for year-end payroll tax reports and streamline your financial processes efficiently.
To shed more light on this topic, let’s hear from industry experts who emphasize the importance of professional bookkeeping services:
– Alicia Hammersmith, Director of Client Services at BooksTime, highlights the efficiency gained by working with bookkeepers trained in your specific industry.
– Alison Williams, Manager of Growth Partnerships at Bench, stresses the benefits of aligning with a bookkeeper and tax advisor to optimize tax deductions and free up time for sales activities.
Considering the positive impact of year-round bookkeeping support, it’s evident that adequate preparation during the year can enhance year-end planning and significantly reduce tax-related stress. By entrusting your bookkeeping needs to a professional, you can focus on core business activities while ensuring financial stability and growth.
Here’s a handy checklist to streamline your engagement with a bookkeeper and maximize the benefits:
– Gather all legal documents and financial information for seamless communication.
– Provide your bookkeeper with your business plan and budget to establish a structured chart of accounts.
– Collaborate with your bookkeeper to set up accurate financial reports and monitoring processes throughout the year.
– Review your financial data and operational results with your bookkeeper at regular intervals to identify discrepancies and make informed decisions.
In conclusion, embracing the idea of hiring a bookkeeper to manage your finances can lead to increased profitability and greater business efficiency. Take the leap today, and you might find yourself reaping the rewards next year!
Amy Chorew, a dedicated Realtor with a penchant for investment properties and well-staged listings in Connecticut, has been a trusted name in the industry since 2008. Connect with her for valuable insights on technology and sales strategies.
Maeda Palius, a seasoned CPA with 40 years of experience, specializes in helping small and medium enterprises achieve profitability and foster personal wealth growth. Connect with her to explore financial strategies for business success.
Leave feedback about this