As accountants, new business owners often ask us, “When should I hire a bookkeeper?” It depends, of course. But, to know what signs to watch for, here’s a list. It will help you identify when you might be ready to hire a bookkeeper.

• Working too much – Running your business is taking away from growth and marketing your business. You struggle to find time for bill payments and payroll completion. You don’t even reconcile the credit card each month.
  
• Uncertainty – You’re unsure about how to account for some transactions and events.
  
• Expertise – You often think it would be nice to have someone to ask about accounting, tax, or payroll questions.
  
• Budget – You can afford the monthly or quarterly investment that it costs to have an expert do the work for you.
  
• Compliance – The IRS or another agency is auditing you or already has, and the state of your books did not impress them. You don’t want another costly audit, ever

The best time to hire a bookkeeper is before you even start the business. A bookkeeper can help with important initial tasks.

1. Record startup costs to ensure you’re maximizing your deductions
2. Set up your accounting system, like QuickBooks or Xero
3. Organize your business licenses and payroll records
4. Help you understand the expectations and requirements of running a business

As your business grows, your bookkeeper is invaluable. And with a tax and bookkeeping firm like ours, we grow with you. So if you’re ready to hire a bookkeeper, get in touch with us today!