Why do I need a Bookkeeper?
Unless you went into business as a Bookkeeper then its safe to say that numbers probably aren’t your thing. Here at 3rd Arm Admin we have a saying that a Plumber didn’t go into business because he was a good bookkeeper – he went into business because he was a good plumber. You bookkeeper is the same – they went into business because numbers are their thing and just like servicing your car or doing electrical repairs at home, bookkeeping is one of those things best left to the experts.
While the perception is often one that “I can’t afford a bookkeeper” the reality is a good bookkeeper will actually save you money. That is because a bookkeeper has the expertise so subsequently will reduce human error, missed due dates, tax payments and help to keep your money owed to you (Debtors) up to date. Additionally, they will be 3 – 4 times more efficient than you are at bookkeeping.
Up to date and accurate financial information
Having up to date and accurate accounting information is vital in the success of your business. It allows you to keep your focus on your core business needs like strategy, funding, customer service and marketing while being secure in the fact that your financials are up to date and accurate, enabling timely decisions to be made. Your accountant will love you and you’ll probably also find your fee from them reduces.
Better Cashflow
A Bookkeeper will stay on top of debtors and creditors and set up processes and procedures around collecting in the money owed to you, sending out statements, paying your suppliers on time and paying tax on time. The last thing you want in your business is to be paying penalties and interest to the tax man. This is not only wasting money but doesn’t reflect well when trying to borrow funds or seek investment.
Another set of eyes
A Bookkeeper is in multiple sets of accounts all day, every day, so knows what to be looking for. They will often see trends or problems well before you’ve realized there was even an issue. But don’t worry because they’ve probably seen something similar before so will also have a number of suggestions for how to solve it.
Payroll
Payroll in NZ is extremely complicated and often businesses get it wrong. That can not only be expensive dollar wise but also expensive for your relationship with your staff. Your Bookkeeper stays up to date with all things payroll and is efficient at processing.
Technology
Our goal is all about making your business as efficient as possible using technology. Not only does it reduce the chance of human error but also increases productivity. Less time equals less cost.
Work-life balance
Just because you can do something doesn’t mean you should. None of us like working 12 – 14 hour days, nor should we. Everybody needs balance in their life and time to spend with loved ones. The alternative is that you burn out and become unproductive in what you are trying to achieve. Not a win for anyone.
For information on any of the above please contact the team on 04 232 9199 or email Sue@3rdArmAdmin.co.nz
