Mistakes in the books: Finding mistakes in the books are common, but if they’re not caught early, they can easily sneak up on you and cause major malfunctions during reconciliation.Hiring a bookkeeper could help keep you on track during this business growth phase. Significant growth: If your business is booming, it also means your records are growing and likely getting left in the dust when it comes to updates.Below are some signs to help point you toward the right choice: While these exact figures can change over time, the cost comparisons of covering your bookkeeping and accounting needs can vary greatly depending on the type of individual you hire.Īs with any new hire, you’ll need a careful assessment to warrant bringing in additional hands to help run your small business. They require the least amount of education and focus on recording transactions, whereas an accountant or CPA spends their time analyzing financial data and generating financial statements. On the other hand, bookkeepers are the more affordable option. Depending on the type of accountant, years of experience, and certifications, you could be paying a pretty penny.įor example, a Certified Public Accountant (CPA) is paid more than a traditional accountant due to having to meet higher education and licensing requirements depending on their state. To be exceptional at these tasks, accountants must complete years of training and earn special certifications, which their salaries reflect. CPAsĪccountants maintain a wide range of skill sets, including managing spending and budgets, taxes, and analysis of financial statements. Whether you opt for basic bookkeeping or full-service bookkeeping and accounting, either option can help you be better prepared come tax season.Ĭosts for bookkeepers vs.
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