ARE MONTHLY BOOKKEEPING SERVICES WORTH IT?
With just a few of my clients, it’s the same thing, year after year. I get a call in November, and they have no idea what’s going on in their business financials.
They think they are doing just fine, and they want to increase opportunity for the growth of the business. But since they don’t keep their books up-to-date on a regular basis, come to find out they have no idea how much they can budget in the next year.
They have spun their wheels all year, for 10+ months, busting their butts. But they don’t know their vitals, and are hoping like hell it doesn’t all fall apart.
Does this sound familiar to you?
Towards the end of the year some of my clients come out of the woodwork and need to get their books caught up for the year. They seem to think everything’s great. They know they have money in the bank, but do they know how their business actually performed. This cash they have in the bank… is it really income, or did they borrow it? Do they think they’re doing better than they really are? Well…I don’t know either!
If there are say 674 transactions waiting to be added in the QuickBooks banking center, there is no way to know.
Having money in the bank means nothing. I’m sure you have looked at your nice clean QuickBooks file at year end and was astonished by how well your income was for that year, and then you next thought is….Where’s the cash???
You see, having cash doesn’t always mean you are making money, AND lack of cash doesn’t mean you aren’t.
As a detail oriented QuickBooks Smarty Pants, I couldn’t imagine going that long without knowing what’s happening on the money side of my business. Yes I have money in the bank. Yes my phone is ringing…but is my Amazon account getting the best of my budget? Are my employees taking too much time on tasks or clients. Did that customer payment that bounced every get repaid? I don’t want to question that stuff.
I don’t want you to question that stuff either. I want my clients to know all the details. (Well, at least most of them!). Wouldn’t you want someone to let you know if a very important vendor hadn’t cashed that big check you sent them last month? Or if your payroll fees suddenly doubled? Wouldn’t it be nice to have somebody in your accounting file that is in dozens of other files each month, and see trends and processing changing regularly? Wouldn’t it be nice to have someone like that in your corner?
Monthly bookkeeping isn’t just about getting your bank accounts and credit cards reconciled. It’s about making sure your financial operations and processes are in good standing too.
So I guess the question is really for you….Don’t you think monthly bookkeeping is worth it?