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Why hiring a bookkeeper can keep your business running smoothly during the summer

Posted By Helen Jones, Bookkeeper, 04 August 2023

Why hiring a bookkeeper can keep your business running smoothly during the summer

 

School holidays can be tough on small business owners. Balancing work and holidays can be tricky, especially when you and your team want to take some time off with family. You want to be able to keep the business running smoothly while getting some time out.

 

That's where hiring a bookkeeper comes in. As a small business owner, you might think that you can’t afford to outsource bookkeeping tasks, but a bookkeeper can save you time, money, and stress. Here’s how. 

 

A good bookkeeper helps you stay on track with your finances

 

Regular bookkeeping is important, even if you think of yourself as just a small business. Your bookkeeping is the foundation for monitoring your sales, expenses and profits, but also your cash flow and your progress against your goals.

 

Hiring a bookkeeper during the holidays means you can keep track of your finances while you're gone. A professional bookkeeper can record and reconcile transactions, process invoices and payments and handle payroll for you. They can also identify potential bottlenecks in cash flow and spending patterns to help you adjust your budget accordingly. Additionally, a bookkeeper can also help you prepare financial statements and tax returns, saving you from returning to work knowing you have to quickly turn around a VAT return. 

 

A good bookkeeper provides valuable business advice

 

Your bookkeeper is also a business owner, and a great confidant for discussing your business goals and challenges. A good bookkeeper can help you identify areas where you can save money and make suggestions for increasing sales. They can also help you identify potential problems in your cash flow. It’s hard to delegate when you want to know everything about your business, but imagine the peace of mind of having a finance expert’s eyes on your business while you’re taking a holiday.

 

A good bookkeeper helps you prioritise your workload

 

During the holidays, there's always a temptation to either do nothing or keep working and not spend time with your family. You didn’t start your business so you could become a bookkeeper, and engaging a bookkeeper to handle your financial tasks can help you prioritise your workload so you can just do what you need to do, and enjoy time with your family. 

 

A good bookkeeper saves you time and money

 

It’s hard to think that hiring an additional person into your team is going to save you money, but bear with me. Engaging with a bookkeeper to handle tasks that aren’t your specialist area will save you time and money, and here’s how. Not doing these tasks yourself will free you up for the work you’re really meant to do in your business - where there’s a much better return on your time investment. Compare hiring a bookkeeper for £200 per month with taking on 2 new clients generating £2000 per month. Are you better off to forgo the £2000 and spend your time bookkeeping, or to earn an extra £1800 in your business this month? 

How about if you took half of that time you would have been doing the bookkeeping off as holiday instead? You’d still be £900 better off this month - just by hiring a bookkeeper. This is maths that makes sense. 

Add to this how a bookkeeper can usually save you costly mistakes in your bookkeeping and you’ll never question the value of a bookkeeper again. 

 

A good bookkeeper gives you peace of mind

 

Knowing that a professional bookkeeper is managing your finances not just while you’re away but every day of your business gives you limitless peace of mind. You can always be confident that your business finances are up to date and in good hands, so you can get on with running your business armed with the information you need to make good, timely decisions. 

 

Conclusion

 

Hiring a bookkeeper isn’t just a good move for the summer holidays, it’s a great move for the life of your business. It allows you to focus on what you really need to do as a business owner and take a break while everything financial happens smoothly behind the scenes. You don't have to worry about falling behind in your financial tasks, and you can trust that a professional is managing your finances. By leveraging the expertise of a bookkeeper, you can focus on spending quality time with your family and return to your business recharged and ready to tackle new challenges.

 

If you’d like to talk to me about how I work with small businesses like you can find me on LinkedIn, Facebook or book a call.

 

Tags:  bookkeeper  finance  holidays 

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Divorce Spurred Me To Start My Own Busienss.

Posted By Athena Hall, Bookkeeper, 17 March 2022

The defining moment in my marriage came the night my father died. My best friend and the person who had always believed in me and knew I could do anything if I put my mind to it had just left me. I hadn’t felt loved or cared about for, by my husband, in many years. I knew then that I couldn’t spend the rest of my life married to him but I had a 12 year old daughter to care for.

Making Plans

Three years later after two bouts of depression and counselling, I started to make plans in my head. I’d worked for a bank for 15 years prior to having my daughter but hadn’t worked since other than volunteering at her primary school. I’d had a small cattle rearing business with my father-in-law and had kept the books for that business, so I decided to do my bookkeeping exams. I still had no plans to leave my husband until our daughter had gone to university.

Events, however, overtook after I had a break away on my own. So in December 2008 I decided enough was enough and asked for a divorce.

A New Chapter

That was the start of an awful period in my life. He took my request for divorce badly and retaliated by telling lies to some members of my family, this caused great distress to all and although some relationships were mended, one sadly could not be restored. However after a lot of hard work on my behalf I am now back in touch with my cousin and we are rebuilding our relationship.

A New Start

The marital home eventually sold and in November 2009 I moved 200 miles away to start a new life. I only knew one person here and had no job.

As I hadn’t worked for so long I had a very limited chance of getting a job. Add to that my daughter was living with my mother and I was visiting them about every 2 to 3 weeks. The M6 and I became very good friends. Once the house was straight, I concentrated on my studies and in April 2010 I passed. I now have letters after my name. Dad would have been proud of me. Even with my qualifications no-one wanted to employ me. My money was running out, so I had to do something pretty quickly. How difficult could it be to work for myself?

Striking Out On My Own

So my bookkeeping business was started. First thing was to find clients. I put an advertisement in the local paper for a month, but nothing came of that. So I joined the local Chamber of Commerce and the lady who completed the forms suggested I go to a free networking event they were hosting the next week. I had never done anything like that in my life; I was terrified, but I went and met two very nice ladies who were as nervous as me and we spent most of the evening chatting.

I then contacted a local woman’s business organisation who gave me some marketing ideas which weren’t really suitable for my business but they invited me to a Chamber of Commerce breakfast club that is held monthly. Someone from the organisation would be there to introduce me to people. At your first meeting you can give a 30 second talk introducing yourself and your business.

Yes I did it!

I was nervous and not sure that it was the greatest 30 seconds ever but it did get me my first client. I now table host at this event, which entails me making sure that everyone on my table gets the chance to pass their cards around and tell everyone on the table about themselves and their business.

I have made friends from this networking event and been told about other events which I now go to and enjoy.

You never know where a potential client will come from.

It might not be someone you meet at an event but they might know someone who does need your services. In the meantime my daughter built a website for me and I have found a few clients from there. When I first started I took on any client that asked me but I have learnt that if I don’t like them or their demands for my time are unreasonable then they aren’t worth keeping on my books.

I have had to toughen up as clients can be very unpleasant and it’s hard not to take it personally.

You really do need a business plan before you start out and to belong to an association that specialises in your business. Do your research about the type of business you want to start and how much other people are charging.

I still do networking and am enjoying it. You meet so many nice people and learn about their business.

Always have a strap line for the end of your 30 or 60 seconds.

It hasn’t been easy and I’ve had many a Monday meltdown. I have changed my mind set to one of positive thinking all the time. That can be challenging at times.

Photo credit Athena Hall

Tags:  Bookkeeper  Divorce 

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