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Small Business Needs a Bookkeeper

Why Your Small Business Needs a Bookkeeper

People running a small business may wonder whether they need to hire the services of a professional bookkeeper or try to do the job on their own. While performing your own bookkeeping early on in the life of a business may be a good idea at first, it is not sustainable. Over time it becomes crucial to get a professional bookkeeper for a small business.

There are a number of reasons why you should hire a bookkeeper.

Saving time and money

Saving time and money is one of the most obvious benefits of getting a bookkeeper for a small business. Routine tasks such as lodging BAS statements, invoicing clients and reconciling payments can seem simple enough but can take up a lot of time. It may make sense to do it yourself when starting out as a sole trader but soon even the smallest of businesses will find the time is better spent on business development or operations, critical functions that a business cannot outsource.

Save on tax

Tax is an area of law and finance that grows more complex with each passing year and the majority of small businesses have enough to do without learning all about the array of deductions and minimization strategies there are. An experienced bookkeeper for a small business should be able to find extra deductions to claim on a tax return and also make clear what cannot be written off, which is often very confusing and just as important.

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