Are you a solopreneur? How do you handle keeping track of your expenses and receipts? Do you just throw your receipts into a big box to handle at a later time? Maybe you tell yourself that you’ll make time to scan your receipts and input your expenses on a monthly basis. But you know what ends up happening. Just like every other small business owner, you get too busy, and the task just continues to accumulate until tax time comes along and you scramble to get everything organized. So stop putting yourself through this added stress by hiring a bookkeeper.
Some keys benefits of having a bookkeeper manage your receipts and expenses include:
- A bookkeeper can keep you organized.
You’ve got a million tasks to do each day running your small business, so it’s easy to let your receipts pile up. The longer you let them sit, the more out of control they become – until it can seem like an insurmountable task to complete. A bookkeeper can input your expenses on a regular basis, so you’re not rushing to get the task done at tax time.
- You’ll have permanent receipt records in case you’re audited.
Receipts are often printed with ink that can fade over time. A bookkeeper can scan your receipts for you, so you have an electronic file of them. Since the IRS requires you to keep these receipts for up to six years, a bookkeeper can ensure electronic backups of these files are maintained. Additionally, a bookkeeper can make sure good physical copies of these receipts are kept as well.
- You can keep track of certain expenses.
Wondering how much you’re spending on office supplies? Business meals? Or something else? It’s hard to keep track of those accumulated expenses when your receipts are scattered all over the place. A bookkeeper can keep track of those expenses and provide you with a report, so you can stay on top of your expenses.
- Completing your taxes will go more smoothly.
You need a complete report of your deductible expenses to prepare your tax returns or to send to your accountant for him/her to do. However, that box full of receipts you need to record isn’t going to input itself. By recording your expenses in a timely fashion, a bookkeeper can make tax time easier for you.
- You can focus your time and energy on running your small business.
Running the back-end activities of your small business, like your bookkeeping, can consume a lot of your time – time away from dealing with more important business matters. By hiring a bookkeeper to manage your expenses, you can concentrate on doing what you do best – managing and growing your small business.
Hire a Bookkeeper Today
The Payroll Department offers a convenient bookkeeping solution for your small business. Not only will we keep track of your expenses and receipts, we can manage your accounts payable, banking and credit care reconciliation and more. Contact The Payroll Department today at 317-852-2568 to discuss how we can best serve your small business.
-Ariane of The Payroll Department B0og Team