A Different Kind of Bookkeeping Help

A Different Kind of Help

Not everyone needs help with bookkeeping.

Some solopreneurs are comfortable doing bookkeeping themselves—and that’s perfectly fine.

In fact, I work with several small-business clients who are comfortable handling their own bookkeeping. And guess what, many do a great job.

Some folks are just naturally gifted at navigating their QuickBooks files, enjoy playing with their numbers, and produce results that are more than acceptable – maybe needing a tweak here and there – but, all things considered, they are fine with their results, and it works for them.

I also know solopreneurs who have developed their own hybrid bookkeeping systems and recordkeeping systems that work just fine for them. It provides the data they need for their tax compliance and often more than enough insight to plan and keep themselves and their business sharp.

I know what you might be thinking: What about their balance sheet? For amounts over $250,000, they need one (think Schedule L). But who says business owners have not been able to produce a clean, balanced sheet? I see that also. An experienced accountant (or tax pro) is more than capable of producing a balance sheet as part of their working papers – I know, I do it all the time. This is what accountants used to do many years ago, and guess what, it is still doable with little effort. Did we get too lazy, or have we gotten too used to having everything handed to us all tied up nice and pretty, with a bow on top?

Tell you another secret: I’ve even seen seven-figure firms where the owners do their own bookkeeping, even though nothing in their background or training says bookkeeping. Truth be told, this defies logic, Economics 101, and the basic concept of opportunity cost on the surface. You would think there is a better and more cost-effective way to use their time and delegate the lower-priced-tier work to someone who can do it far below the owner’s higher hourly rate. But hey, all is not logic, common sense, or even Economics 101.

The truth is that many small businesses get along just fine with their own version of DIY bookkeeping. And many don’t even need the QuickBooks, Xero, FreshBooks, Wave, etc., that we’ve convinced ourselves they need. It helps, yes, but even then, many folks can do it themselves just fine.

👉However, there are also people who:
• are tired of keeping up with it
• feel a bit behind
• realize things are getting messy and cumbersome
• have homed in on the cost-benefit tradeoff
• or just want one less thing to think about

That’s where a bookkeeping professional can help.

Simple, steady support…
just to keep things organized, prepare just-in-time practical reports and cash-flow analysis; and, yes, make tax time easier.

No pressure. Just an option when it’s needed.

Michael Cook Tax & Bookkeeping LLC
Big care for small businesses.