Igniting Business Growth with More Profit and More Time

Do You Need a Bookkeeper If You Have QuickBooks Online?

As a small business owner you understand that it’s more than just the product or service you offer. It’s also managing operations, customer service, staff, finances, and the list goes on and on. With more and more digital tools becoming available, a lot of business owners are utilizing software such as QuickBooks Online to help simplify their financial management and strategy. I LOVE this tool and advocate for its use time and time again. However, I find a lot of businesses I work with still need a bookkeeper, and here’s why. 

EXPERTISE AND EXPERIENCE

You’re an expert in your business just like I’m an expert in mine. A professional bookkeeper will not only help you utilize the QuickBooks Online software well, but they’ll also be able to share knowledge about accounting principles, rules and regulations, best practices, and more. There may be specific nuances about your business that you’re unaware of that could be costing you money or leading to you losing out on tax exemptions. Working with a bookkeeper is like having a finance guru on your team to ensure you’re getting strategic financial advice that goes beyond your necessary bookkeeping duties.

SAVING TIME

QuickBooks online simplifies your bookkeeping tenfold, but some business owners feel like an hour spent balancing their reports is one hour too many. If that’s the case, a professional bookkeeper can take that burden off your shoulders and free up your time for the parts of your business you want to focus on. Not only can you check your bookkeeping responsibilities off your to-do list, you can have the peace of mind knowing it’s being done accurately as well.

QUALITY CONTROL

A software such as QuickBooks Online is designed to increase your accuracy, but it’s not immune to human error. By having a bookkeeper review your books, they will catch these mistakes early and correct them so you’re back on track. For example, I often help my clients catch errors with reconciling bank statements, transferring money between accounts, recording data accurately, distinguishing between sales and processing fees, and maintaining proper documentation. Correcting these mistakes when they happen will save you time, money, and a lot of headaches down the road.

ACCURATE REPORTING AND FINANCIAL ANALYSIS

Generating reports on QuickBooks Online is easy, but some would argue that interpreting them is not. Your reports are like having a finger on the pulse of your business at all times and give you incredible insight for decision making. A bookkeeper can help you analyze your reports, identify trends, and provide valuable insight so you can make educated moves to help grow your business.

GROWTH OPPORTUNITIES

Hopefully, you’ll see your business grow over the years. But, with scaling comes new problems and responsibilities. Having a trusted bookkeeper on your team will help you evolve and adapt to business growth. This can look like managing your payroll, accounts payable, tracking expenses, budgeting, etc. While each bookkeeper may offer different services, they can be a critical part of your team and help guide you through financial challenges and develop strategies for sustainable growth.

 

The power of QuickBooks Online is truly incredible, but I believe it should be used as a valuable tool in addition to a professional bookkeeper. It’s like having an oven and only using the stovetop. The combination of the software and a bookkeeper will give you a competitive edge, give you the peace of mind that your records are accurate, and help you make informed decisions. I encourage every business owner to embrace the power of QuickBooks Online, but not to underestimate the significant role a bookkeeper will play in managing your finances and helping your business grow.

If you’re ready to take your bookkeeping to the next level, reach out to our team! We’d love to help you use QuickBooks Online to its full potential and take your business to the next level