Why You Need to Hire a Bookkeeper as an Entrepreneur

Why You Need to Hire a Bookkeeper as an Entrepreneur

Entrepreneurship involves a person acting as many roles. The CEO, CFO, COO, employer, employee… the list goes on. Many entrepreneurs birth their businesses to perform or sell their craft to their industry. They quickly get overwhelmed by the array of tasks that's involved. Nurturing businesses full-time is a ton of work! They have to think of the legality, taxes, and accounting to name a few. Entrepreneurs also have marketing, blogging to build their authority, and building a community. 

 

Chances are, you’re not the bombdotcom in accounting. Bookkeeping on many spectrums. On one hand it doesn't exist for a lot of business owners or take hours to complete when you DIY. You’re probably commingling your funds as we speak! Under the impression that when you glance at your statements at the end of the month, it’s called bookkeeping… Wrong!

READ ALSO: HOW TO STOP COMMINGLING YOUR BIZ AND PERSONAL EXPENSES NOW! 

 

Bookkeeping can take you away from the tasks in your business that you perform at a 100%. Just ask Mattie of Mattieologie about the benefits of outsourcing in your business. If numbers are something that you don’t want to consume your Fridays sweating over, hire a bookkeeper. One that understand the online business industry can be a great solution. 

When you hire a trained bookkeeper, you’ll be able to receive those hours back into your life. You’ll be able to meet the deadline for your latest launch. Not crunching your numbers from your last. Your bookkeeper will even know exactly what you need to exceed the previous!). 

How to Stop Commingling Business and Personal Funds Now!

How to Stop Commingling Business and Personal Funds Now!

When I first started my blog, I had no idea if I was going to make it into an actual business. Wasn’t sure if this was going to be something lucrative (Still not 100%.). And damn sure didn’t know that I will begin my entrepreneurial journey in a service-based business. I knew that once I started, it was important to keep the finances separate, but I wasn’t exactly sure how when I was not yet making money.

 

A post that has been and continues to be a hit on my personal blog was my 50/20/30 budgeting system post. This system allowed you to allot money for different aspects of your life 50% fixed expenses. 20% was saving and financial obligations. 30% flexible spending which included personal allowance. When I started blogging, I would use my money to go towards my business. I bought my camera, domain name, and hosting services and was ready to go. A couple of months into blogging, I began to get interested in design and wanted to try everything on my own, so I got a subscription with Adobe Creative Cloud.

READ ALSO: HOW TO SKYROCKET YOUR BUDGET WITH THE 50/20/30 SYSTEM!

Next thing you know I was making all sorts of small investments here and there for my blog that I started to treat like a business. I forgot the simple accounting principles of keeping everything separate. I then opened another personal checking account to drop my coins (literally since I didn’t receive much) from my Amazon Affiliate and a business PayPal account for my earnings from anything else that I did.