But just because you can do something doesn’t mean you should. There are indirect costs involved with everything that falls into the do-it-yourself category. These include the time you spend doing it yourself instead of tending to other business matters, and the possible missed opportunities that come with not having something handled by a full-time expert in that task.
At some point early on, most small businesses need to hand off their tax preparation, and at least some of their bookkeeping, to professionals.
Here’s why you need to hire a bookkeeper?
You need someone who has the skills and can handle the demands of the job.
You need someone who can focus on properly recording the day-to-day financial activities of your business and get your book in proper order.
Good bookkeepers will record all your receipts and expenses, track accounts receivable and payable, and in the course of entering all your financial transactions also create a balance sheet for the business.
Bookkeepers also handle payroll services for their clients.
You can devote your time to focus on running your business.
Bookkeeping costs are 100% tax deductible.