So…what exactly does a bookkeeper do?

Nobody knows!! [cue Nate Bargatze’s Washington’s Dream skit. Haven’t seen it? Check it out - https://www.youtube.com/watch?v=JYqfVE-fykk]

Here’s what a bookkeeper does - they track where your money comes from and where it’s going. Sounds simple? Not really.

After time spent in the industry, here are the mistakes most make:

• mix personal and business

• errors go unnoticed with duplicated transactions, outstanding A/P or A/R, uncleared checks and misfiled payroll

• the Balance Sheet is a disaster with misstated assets and unbalanced liabilities

• ignore taxes until it’s too late with high penalties and interest

Why are these things a deal? Well, they result in wrong tax filings, cash flow surprises, loan denials, overpaying (or underpaying) taxes, audit risk, bad business decisions, I could go on.

Moral of this story - if you’re behind in your bookkeeping, it means you don’t have the time or motive to get it done. Hire a bookkeeper. Trust me.