THE FIRST PERSON TO ADD TO YOUR TEAM SHOULD BE…
dun dun dun…. A Book Keeper! Let me explain why it’s important, what the job means and how to find a good one.
LET’S START WITH THE DEFINITION OF BOOK-KEEPER:
The definition of A book-keeper or bookkeeper is a person who keeps track of your money. They record all of your transactions and classify them correctly.
They keep your books, or financial records!
THE DUTIES OF A BOOKKEEPER:
- keep track of the money going in and money going out
- record all transactions
- make sure the money in your ledger matches the money in your accounts (this is called reconciling)
- provide you with financial data on a regular basis (monthly)
- setup and run payroll
- label all of your expenses correctly
- label all of your income correctly
WHAT YOU SHOULD LOOK FOR IN A BOOK-KEEPER
- the ability to understand your business
- understanding of bookkeeping software like Quickbooks
- willingness to provide you with monthly statements and communicate with your CPA
- book-keeping is their fulltime job
WHO SHOULD NOT DO YOUR BOOKS:
Family, friends, secretaries, administrators, wives, husbands, kids, parents and especially YOU!
Your bookkeeper has a very important job. They are the backbone of your strategy.
You need a professional, dedicated bookkeeper as soon as you can afford it.
Focus on the things you are good at and let the bookkeepers handle the books!
I learned this lesson too late. Hopefully you won’t have to!
BOOKKEEPING VS ACCOUNTING
Accountants are not bookkeepers.
Accountants are responsible for planning your tax strategy, preparing your tax returns, and advising you how to structure your finances and accounts.
They tell you where the money should go!
Accountants rely on the reports from your bookkeeper.
Bookkeepers are responsible for gathering all of the transactions and putting them in the right places with the right “labels”
Your book keeper is where it all starts.
Some book keepers also prepare taxes. If you are just starting your business it might be all you need. Just know that there’s a next level.
HOW TO FIND A BOOK KEEPER
In today’s age it doesn’t matter where your book keeper lives in relation to you and your business. Its a job that can be done remotely.
That means you can hire a book-keeper based on merit!
Marisa at Financials Right has been keeping my books for years.
She get’s it. She also loves bookkeeping so its win-win!
You can also call or email
BUT WHAT IF MY BOOKS ARE A MESS AND HAVEN’T BEEN TOUCHED IN YEARS?
That’s ok! Here is the Solution.
Start keeping good books now. RIGHT NOW.
do this by hiring a book keeper and taking their advice immediately.
Then ask your newly hired bookkeeper to go back and sort it all out for you while you do what you do best.
Run your business.
MY BOOK KEEPERS CONTACT INFO:
Be good to future you!
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