B is for Bookkeeping

Of all the jobs you have to do in your small business, I'm betting that bookkeeping ranks as one of your least favorite. But bookkeeping is one of the most important tasks in your business. An organized bookkeeping system not only keeps your payables and receivables organized, it gathers the numbers together to help you see where your business is going in the future.


If you find yourself putting off the bookkeeping and getting behind in your government tax remittances, it's time to take a hard look at the process. You may think you are saving yourself money by not hiring a bookkeeper to keep you up-to-date but you may in fact be losing money. Late fees, interest, and penalties can eat up your profits quickly when you don't know what you owe to whom and when it is due.

If the cost of a bookkeeper still worries you, think about it this way: what could you if you got the time back that you currently spend on bookkeeping? What do you do best in your business to bring money in the door? Perhaps you could attend an industry conference and make new contacts or meet with current clients to discuss new business. Your business is better off when you focus on your strengths and hire out your weaknesses.

A skilled bookkeeper can get your books whipped into shape quickly so that you can review financial reports to see how your business really did last year and last month. She can prepare government remittance forms and make sure that you pay your bills on time. Most importantly, a good bookkeeper can give you peace of mind and reduce your stress level.