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A bookkeeper is someone who keeps track of a business’ finances. Modern bookkeeping professionals rely on software to create records of daily business financial transactions, making them different from accountants who prepare financial statements and provide analytical services. Bookkeepers focus exclusively on financial records as well as paying bills, preparing invoices, and processing payroll information. Here’s a quick guide to help you learn why this service is a valuable business asset.

4 Reasons to Hire a Bookkeeper for Your Business

1. Save Time

Working with a bookkeeping service allows you to focus on big-picture business goals, like product creation and expansion. Additionally, the professional’s experienced, keen eye will be less likely to make mistakes than a person who’s unfamiliar with maintaining a businesses finances.

2. Know Your Business’ Financial Status

bookkeepingA bookkeeper will keep you updated on how the business is doing financially, allowing you to make smarter decisions when it comes to spending resources. This knowledge will help you understand how much revenue comes in every day and what expenses you don’t need. You can constantly adapt your business plan to accommodate your finances.

3. Save Money

Since these professionals monitor your day-to-day cash flow, any wasteful spending will be immediately brought to your attention and corrected. Also, bookkeeping services cost less than full-time HR employees and help you save on complicated tasks, such as payroll taxes.

4. Avoid Issues

A bookkeeper will closely monitor all suspect financial activities, such as dishonest employees stealing inventory or stolen business credit card charges. These alerts will save you money and ensure your resources are being spent the way you want.

 

If you’d like to get bookkeeping services for your business, contact the team at James & Associates, CPAs, in Wailuku, HI. For over 25 years, these professionals have provided Maui business owners with detail-oriented assistance with payroll, budgeting, and accounts payable. Learn more about their bookkeeping services online, or call (808) 244-2030 to schedule a consultation.

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