Belt-tightening by companies has increased this year as a result of the Covid-19 pandemic. Small business owners are trying to find places to trim their budgets anywhere they can. It may seem counter-intuitive, but now is the perfect time to hire a bookkeeper.
One of the most important tasks for a bookkeeper is managing your business’s day-to-day cash flow. Bookkeepers are experts at keeping track of cash in, cash out, and juggling the multiple accounts a business has. What’s easy for a bookkeeper can be incredibly difficult for a business owner. How can you possibly keep track of customer accounts, vendor accounts, credit cards, rent, payroll and more while trying to grow or sustain a business? As Business.com says, “Running out of cash is one of the main reasons small businesses fail. This is either caused by money mismanagement or disorganization of books of accounts.” A bookkeeper, like those provided by us here at VersaTel Solutions, will make sure that past due payments are followed up on. They’ll process payments to suppliers, and they’ll even process payroll. Now is not the time to let your accounts receivables slip through the cracks, or find your business paying late fees and penalties because “someone” forgot to pay a bill. One of our bookkeepers can take those responsibilities off your shoulders.
Don’t just take our word for it, Business.com gives these reasons your business should hire a bookkeeper:
- A new bookkeeper can offer a new perspective on running your business. Hiring a bookkeeper gives you an outside perspective on how you can manage your budget and run your business more efficiently. They can teach you different ways to cut costs, insights on spending, and other aspects.
- Ultimately, hiring a bookkeeper will help you save on costs. Hiring a virtual bookkeeper helps you save more on potential penalties and labor costs. This is compared to hiring an in-house bookkeeper for your business accounts.
- Hiring a bookkeeper gives you more time to focus on your business. You don’t have to worry about organizing your own books of accounts. Hiring a bookkeeper gives you more time to focus on the core activities of your business.
If you’re interested in hiring a bookkeeper, reach out to us here at VersaTel Solutions. We can help your company with other business processes as well. We have professionals on our staff who can help your company perform at its best, even during the most difficult times.