Do you think is sounds a little strange that hiring a bookkeeper will save you money? Well, it really comes down to simple mathematics. There are likely two scenarios right now for how you are handling your financials. Either you are doing it yourself or you are paying a member of your staff to do it for you. Both of these cut deep into your bottom line, and I will tell you why.
If you know your business well then you will know exactly how much an hour of your time is worth to the company. As we talked about in the previous section, there are some tasks that are just more important than others. For example let's say that when working on the most important jobs your time earns your business $100 per hour. Now compare that to the amount of money it would cost to outsource to bookkeeping services. Even if it costs as much as $25 per hour you are still making an extra $75 per hour by having someone else do it. When you do a $25 per hour job yourself instead of a $100 per hour one, you are wasting a lot of potential money.
The other scenario is that you are paying an employee to do the job, either part or full time. When you factor in health benefits and pay raises the cost can add up quickly. In most cases you can outsource this job to a dedicated bookkeeping service and save a lot of money now and in the future.