Yes. Yes, you do need a bookkeeper even if you have Quickbooks.
We understand that you’re a small business owner, and you want to save money where you can. But relying on software alone may cost you more in the long run. Accountants and bookkeepers can offer so much more than Quickbooks.
Why You Need a Bookkeeper Even If You Have Quickbooks
Here are just a handful of reasons that having a human touch is better than relying on Quickbooks alone.
Catch More Mistakes
No matter how careful you are, mistakes happen. Whether you type the wrong number or write in the wrong column, errors can easily go overlooked until it’s too late to fix them.
Quickbooks won’t let you know when you make a mistake simply because it won’t realize it either. While the software is helpful, it wasn’t created to see the big picture and can’t account for user error.
A human being, on the other hand, can scan documents for intent and use logic and reasoning in ways that software can’t. Accountants or bookkeepers who have worked with you for a while are also familiar with your company’s history and processes and will intuit which areas may need careful inspection.
While software can seem like an affordable quick fix, financial mistakes often cost more than hiring an accountant.
1. Offer Suggestions
Having a human accountant by your side is great because they can look at all your financial data and offer suggestions based on it.
For example, they can make and share monthly statements with you. These statements will show how you spent your money, how much money you made, and if you’ve been profitable for the month or not.
By having these monthly reports available, you can quickly fix any issues involving cash flow before they grow too big to handle. These reports also come in handy if there are any issues with the IRS.
Accountants can also offer strategies to grow your business if you feel stuck. These strategies can include how to get more investors, what risky moves may be worth taking, and who to hire or partner with.
2. Teach You How Money Works
We know that you know the basics of how money works, but how familiar are you with complex money flows? Many businesses start great but quickly run out of money because of mistakes, poor decisions, and bad luck.
A bookkeeper or accountant can guide you through the process of how money works when you run a business. While you can create a budget that includes products, payroll, and utilities, accountants will add things you may not have thought about.
Plus, their budgets will be much more precise than yours.
3. Handle Taxes
Yes, it’s time to talk about the dreaded T-word. Doing taxes is already hard enough, but sometimes tax software can make it harder. Whether you’re a new business or a veteran, who doesn’t want support and reassurance that you’ve done everything right with your taxes?
If your business had complex financial changes like takeovers, mergers, or expansions into a new industry, you’d definitely want assistance from a professional.
Having a bookkeeper or accountant by your side will not only help you handle the IRS, but accountants will also keep you organized and make sure you receive all your deductions.
4. Avoid Audits
One responsibility of a bookkeeper is to help you avoid audits. Audits can happen for a variety of reasons, like form mistakes, charitable deductions errors, or changes in tax laws. But they happen at random, too.
Having an accountant as a teammate is a great asset should you be randomly selected for an audit. Not only will they have all the information the IRS needs readily available, but they will be able to communicate in a language that the IRS speaks, which can help expedite the process.
5. Give You One Less Thing to Worry About
You’re an overworked business owner with too much to worry about. A bookkeeper or accountant may not solve all your problems, but they can take many financial tasks off your plate.
Bookkeepers can send and pay invoices, handle payroll, and track sales. They are the perfect partner for small businesses because they allow you to focus on more critical areas of your business.
Mazuma Wants to Help You
While Quickbooks is convenient, it lacks a human touch. Keeping your business on track, catching mistakes, and offering helpful solutions are just a few things an accountant or bookkeeper can assist with.
Mazuma wants to help small business owners like yourself with all their financial needs. We want to be more than just an accountant; we want to be a teammate who inspires you to grow your business more than ever.
We’ve helped over 10,000 small businesses already! Contact us today to see how we can help yours.
FAQs:
Why do I need a bookkeeper if I already use Quickbooks?
While Quickbooks is useful, it can’t catch all financial mistakes or offer personalized suggestions like a human bookkeeper can. A bookkeeper provides a holistic view of your finances and can identify areas needing attention that software might overlook.
What suggestions can a bookkeeper offer for my business?
A bookkeeper can analyze your financial data and offer suggestions such as creating monthly statements to track spending and profitability, providing strategies for business growth, and offering guidance on financial decisions like investments and partnerships.
How can a bookkeeper help me understand complex financial concepts?
Bookkeepers can teach you how money flows within your business, helping you understand budgeting, cash flow management, and financial planning in detail. Their expertise ensures that your budgets are accurate and comprehensive.
Why should I rely on a bookkeeper for handling taxes?
Handling taxes can be complex, and software may not always provide the necessary support. A bookkeeper can ensure accuracy, handle complex financial changes, maximize deductions, and help you avoid audits, providing peace of mind during tax season.
How does having a bookkeeper reduce my workload?
By handling tasks like invoicing, payroll, and sales tracking, a bookkeeper frees up your time to focus on core aspects of your business. They serve as a valuable partner, alleviating financial stress and allowing you to concentrate on business growth.
