Why Hire a Bookkepper

Think you don't need bookkeeping services? Think again.

At Balance Your Ledger, we realize that every dollar is important, especially for small businesses. But that's exactly why we exist - to save you money. This isn't just wild conjecture; here's the thoughts of a few people who know a thing or two about it.

Businesses fail if they outsource blindly

According to Jay Goltz, the owner of five small businesses in the Chicago area, trusting an accounting firm to do your bookkeeping is a mistake:

"You cannot be in control of a business if you don’t know what is going on. With bad numbers, or no numbers, a company is flying blind, and it happens all of the time. Why? For one thing, it is a common — and disastrous — misconception that an outside accounting firm hired primarily to do the taxes will keep watch over the business."

The Top 10 Reasons Small Businesses Fail

You won't have good money management without a sound budget

The website smallbusinesstrends.com considers the lack of a budget as the #1 reason for failure:

"If you’re not in the habit of running your household with a budget you’re not likely to run your business with one. Mismanagement of funds is hands down one of the number one causes of business failure."

Even if you start with a good financial model, you have to keep it up

Karen Greenstreet, a Small Business Coach and Consultant, cites poor record keeping and financial controls:

"Yes, you have to keep financial and business records, you have to review your revenue and expense report each month, and you have to file taxes and other business-related filings. If you don’t know how to do these, or don’t want to, get help from someone who does."

www.passionforbusiness.com/articles/why-businesses-fail.htm