Bookkeeping. Everyone Loves It, Right?

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Bookkeeping. Everyone Loves It, Right?

By Stacey McVeighty | Thursday, 11th September 2014

Bookkeeping. Everyone loves it, right?

What do you mean you can think of better ways to spend your weekend?

That’s the problem you see, when I asked a few people how long it took and when they last did their bookkeeping the replies included:

  • On a Sunday morning
  • Every Wednesday night
  • The last Friday of the month (usually all day)
  • Whenever the VAT return is due.

I found people spent between a couple of hours a week to a full day a month, just processing bookkeeping information, although no-one seemed to actually spend any time reviewing or analysing the data.

I have two thoughts on this.

Firstly, maybe the bookkeeping systems aren’t as easy to use as they could be.

I am a Free Agent Friendly accountant and a number of my clients use this online software. It is really user-friendly, easy to navigate, and because it is web-based it can be accessed from anywhere you have an internet connection. Another benefit is that all my clients are on my “accountant dashboard” which means I can keep a watchful eye over them, keeping tabs on deadlines and any mis-postings. I can look at specific postings, at clients’ requests, without the need for backups or clients sharing any desktops. It is really reasonably priced compared to some other software and provides easy drill-down reports. If you would like a free trial on FreeAgent, drop me an email.

Secondly, why are you, a busy business owner, doing bookkeeping? What takes you 3 or 4 hours, will probably only take me 1 or 2 hours. Surely your time is more valuable than a couple of hours of my time?

Let’s say you spend 8 hours a month doing bookkeeping and payroll – what could you use that time for?

Bringing in more sales?

Developing your business?

Networking ?

Spending time with your kids?

Playing sport?

What is your time worth?