Why do I need bookkeeping? Why should I outsource bookkeeping?
Well there are several answers to this question, but let me give you a few:
- Probably the most important reason, if you run a business in Canada or the USA, it is a legal requirement. By law, the government requires you to keep certain business records and penalties may apply if you do not comply.
- If you maintain good bookkeeping records, it will be easier and faster to complete your business activity statements and other tax obligations when they are due.
- Good bookkeeping records provide information to allow you to monitor the performance of your business on an ongoing basis and make informed financial decisions.
- It makes it easier to maintain your creditors and debtors when your bookkeeping records are up to date, so this ensures you aren’t paying a supplier twice or that your customers are paying on time. This all helps with the health of your business.
- It can actually SAVE YOU MONEY, by having bookkeeping systems in place, you can find your financial information much quicker and this will save you time and ultimately, money.
- Garbage in, garbage out. Quality and accurate information in, quality and accurate information out!
Outsourcing your business bookkeeping requirement to a qualified bookkeeping service such as Business By Numbers (“BBN”), we will provide you with the time required to focus on your businesses. Most small and medium business owners do not have the training, knowledge, time or ability to effectively perform their bookkeeping duties. Outsourcing to BBN can save your business a lot of money, stress and give you back your late nights and weekends.