Why pass your books to us?
Go for the goal with Rosemary Bookkeeping.
Like many business owners, you probably went into business for yourself because you either:
- a) Have a passion for what you do
- b) Wanted to make more money than if working for someone else
- c) Wanted a better work-life balance.
You have probably discovered that there is more to running a successful business than just doing what you love.
Unless you’re a number lover like us, this probably won’t include your bookkeeping.
However, keeping on top of your bookkeeping is one of the most important things you can do for your business.
In this blog post, we look at the benefits of outsourcing and passing your books to a professional bookkeeper like Rosemary Bookkeeping.
Why bookkeeping matters
Tracking what comes in and what goes out of your business means you are in a much better position to work out what is working and what isn’t, plus very importantly, where you might need to make some changes.
Several software providers make things easier for business owners
These are great tools but need the right assurances and expertise to make them effective.
Good bookkeeping is much more than putting numbers in boxes.
It’s all well and good getting an assist to score a 90th-minute screamer, but if you’re offside, it doesn’t help you lift the trophy when the final whistle blows.
Mistakes and oversights in your bookkeeping can impact the finances of your business.
As a successful business owner, you need to understand your business’ true and fixed cost of sales so you can measure the profitability of your business properly.
Why should you use a bookkeeper?
Everyone has unique reasons for going into business for themselves, but you likely chose something you could do well and were good at.
Your business will do best while you focus your time and effort on doing what you are good at and passionate about, so allow time to do what you love: the actual business.
Having a professional bookkeeper means you don’t have to spend time working out what nominal code to use or what VAT amount should apply.
It means you have an expert you trust who knows these things, doing all the bookkeeping for you.
Having the bookkeeping expertly done ensures your access to regular and accurate reports so that you can meet tax deadlines, avoid penalties and eliminate stress.
Sound bookkeeping makes it easier for you to make informed decisions about your business providing accurate and up-to-date information, allowing you to maximise the potential of your business.
Can you afford a bookkeeper?
As a small business owner, you may think that you can’t afford to hire a bookkeeper, and that taking someone on means holiday pay, sick pay and an hourly rate/salary.
Let’s put it another way, here are some key questions to ask if you’re on the fence about using a bookkeeper:
- How long are you spending on your bookkeeping and what is that time worth?
- How many hours are you spending in your working day/week/month sorting your books? How much do you charge an hour?
- What else could you be doing that can probably make money for your business?
- Are you doing the bookkeeping in the evening or at weekends?
- Do you have a work/life balance that you’re happy with?
- Are you spending your free time doing things you wish you didn’t need to?
What is the value of that time to you? It’s probably worth more than what it would cost to outsource to a good bookkeeper.
A professional bookkeeper will likely take less time to complete the same work, meaning their time is more cost-effective.
The benefits of outsourcing
Having a professional bookkeeper doesn’t mean you need to hire someone on fixed hours every week of the year.
Outsourcing your bookkeeping is a very effective and efficient option.
An outsourced bookkeeper will work closely with your accountant and liaise directly with them if you wish.
They will also be able to work on the bookkeeping and accounting software either you or your accountant prefer to use, meaning less work and effort on your part.
An outsourced bookkeeper often works remotely or from their own space so you don’t have to provide equipment or office/desk space.
Therefore, you will have no upfront overheads. You pay for the work you get.
At Rosemary Bookkeeping, we work with our clients and accountants to provide a service that best fits their needs.
What can Rosemary Bookkeeping do for you?
Rosemary Bookkeeping is an expansive network of local experts working under and backed by a UK-wide brand.
Our bookkeepers across the UK offer the resources, hours and capabilities your business requires to make confident and well-informed financial decisions.
Through the expert Rosemary system, we build bespoke packages and service support to best suit your business and what you require from its finances as an owner.
Stay compliant
Part of the work of any business is staying up-to-date and compliant with regulations like MTD (Making Tax Digital).
At Rosemary Bookkeeping, we work closely with you and your accountant to ensure your business complies with evolving UK legislation.
Create and provide accurate and up-to-date reports
More than just a bookkeeper, we provide regular reports in a visual, easy-to-digest format and explain them to you, so you can be sure you’re getting the most out of your business finances.
Software Support
We’re also partners with Xero, one of the UK’s leading accounting software programs.
Whether you’re looking to switch or onboard, we’re here to support you through that process, with access to partner-level resources, solutions and discounts, helping you save each month.
Our friendly approach to bookkeeping is fully cloud-based, meaning that we can guide you on best practices across the full suite of accounting software and adopt smarter ways to bookkeep.
See how we can help you today
No matter how you feel about your bookkeeping, if you’re wondering if you need help, it never hurts to pick up the phone.
Your local expert is here to help with your bookkeeping how and if you need it.
From complete outsourcing to regular support at a smaller scale, we’re here to provide the support you need most.
See how we can help you by finding your nearest Rosemary Bookkeeper today.
