DIY or Hiring Someone: Which Is Better?

 

So, I know I should stay on top of my bookkeeping, but I’m not sure that it’s a great use of my time.  Should I hire someone to do it for me, or just do it myself?

 

Let’s be honest — you started your business because you love the industry you’re in.  And unless that industry happens to be bookkeeping, you probably don’t love the bookkeeping part of running your business.

 

However, bookkeeping is a vital part of keeping your business alive and thriving.  You absolutely must keep track of your revenue, your expenses, your asset purchases, your payroll, your tax payments — all of it.  To ignore the bookkeeping is to doom your business to certain failure and possibly doom you to legal problems as well.

 

The short answer to the question of hiring someone to handle your bookkeeping or doing it yourself is:  whatever method gets the job done efficiently.

 

If you decide to take on the books yourself, there are many tutorials and online courses for you to gain the knowledge and know-how of bookkeeping and your chosen accounting software.  Taking the time to learn the basics will save you lots of time and hassle, particularly on trickier transactions like payroll.

 

Hiring a bookkeeper or contracting with a bookkeeping firm will cost more than doing the work yourself.  But you will have more freedom to focus on helping your customers, growing your top-line, and doing what you love.  The benefits may outweigh the costs, particularly as your business grows.

 

But even if you pay someone else to do the work, you should still be involved in the bookkeeping process.  Have regular meetings with your bookkeeper to confirm that the bookkeeper has everything needed to keep the books up to date and accurate and to make sure you understand your business’s performance.

 

So for whichever method you choose for keeping the books — doing it yourself or hiring an employee or firm to do it for you — be sure to get started right away to get your business finances in good shape!