Bookkeeping - Why should I bother?

Why bother with bookkeeping? That’s easy: You really can’t run a successful business without it!

It’s a bit like expecting to navigate to a new destination without a GPS. You might get there in the end through guesswork, but even if you do, you’ll likely have taken multiple wrong turns and wasted precious time and money along the way. And that’s why we here at Sherpa Bookkeeping like to think of ourselves as sherpas – we’ll guide you through the bookkeeping maze to help you and your business get to where you want to go.  

Bookkeeping is the way to keep track of all your business transactions. It maps out your finances so that you’ll know:

• How much income you’re generating

• How much your everyday expenses are (bills, wages, rent etc) and when they’re due for payment

• Your profit margin

• When the time is right to build your business, and when it’s best to consolidate.

Properly managed, a bookkeeping system is like an ongoing in-house audit of your accounts. Unpaid invoices and other irregularities quickly become apparent and can be dealt with promptly – plus you’ll always have an up to the minute snapshot of how you stand financially, helping you to make smarter, better informed business decisions.

It will also help keep you on top of due dates for taxes and other similar payments, ensuring you meet your regulatory and legal obligations, while avoiding the late marks that incur costly fines and penalties.

In short, the more complex your business, the more you’ll benefit from having a bookkeeping system – and the sooner your books are in order, the better off you and your business will be.