Bookkeeping myths…busted!...

To some, bookkeeping is an arduous part of starting your own business but, in truth, it’s one of the most crucial. In order to become a successful business, you must lay solid foundations to meet your company’s aspirations for growth…and that means getting your books in order!

Common bookkeeping myths:

“My business is too small to need a bookkeeper”
Many businesses are under the impression that their business is too small to work with a bookkeeper, but this is rarely the case. Whether for a ‘one-man band’ or a larger SME, bookkeepers relieve pressure and free up your time, so that you can focus on developing your business whilst letting the professionals do what they do best. Without the correct expertise, you wouldn’t maintain your own car or van, so why do your own books?

“Bookkeeping is just maths”
Whilst, a large proportion of bookkeeping is dealing with numbers, maths and figures, another important part of the role is communication. As an extension of a business, a bookkeeper’s role is to be in touch with a variety of clients from varying industries at all times, not only dealing with client work but also constant flows of general non-confidential information. A well-connected bookkeeper is worth their weight in gold and will become a trusted member of your team –  for example if you are unhappy with a supplier, your bookkeeper may be able to suggest someone new or perhaps more importantly know who you should avoid!   We certainly don’t need maths to drink a cup of tea and catch up!  Understanding your business means that we, as bookkeepers, are better placed to support you.

‘If I keep doing what I’ve been doing I’ll be fine’
The nature of business nowadays is that it is constantly evolving and changing. Staying ahead of the game is fundamental and could save your business money in the long-run. From new software programmes to the latest legislative tax changes, you need a bookkeeper who knows their stuff. Not only that, but it sometimes takes an outsider to come in, take a fresh look and spot things that you may have missed in the general day-to-day dealings of your own business.

To talk to someone about taking care of your books, get in touch info@nickipaddy.co.uk I’d be delighted to have a chat.

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