There are a lot of answers to this question and depends entirely on the individual’s circumstances. If you can relate to any of these situations then it may be time to think about hiring a bookkeeper.
• Your business is growing too quickly and by yourself you can’t manage to get it all done. It’s starting to take a toll on your health as well as relationships in your personal life.
• You don’t have much spare time to do any bookkeeping tasks, so you’re making mistakes with figures due to rushing or lack of training or simply getting the numbers the wrong way around from lack of concentration.
• You’re finding it stressful trying to run your business as well as keep up to date with your tax obligations and deadlines.
• You want to focus solely on producing your products and services, not on your office tasks.
• You don’t enjoy bookkeeping.
• You need a hand to get started but plan to carry it on after some training.
• You are behind in your bookkeeping and need it up to date for the end of the financial year.
These are just some of the common situations you might be in, if you are it may be a good idea to start trying to find a bookkeeper to set you on the right track.
Some of the main advantages of engaging the services of a professional bookkeeper over an in-house bookkeeper are:
• You will only get charged for the hours you use – which means they are 100% productive in your time.
• They supply all of their own equipment, which could save you thousands of dollars in set ups.
• They train themselves in everything they need to know to get the job done for you.
• They pay all of their own taxes, ACC levies, Kiwisaver, etc
• You don’t have to have them working when there is no work for them to do.
• No need to pay them holiday pay, holiday leave, sick pay, or bereavement leave.
• They run their own businesses just like you so they know the ups and downs to running a small business in New Zealand.