- by Jane Applegate
Hiring A Bookkeeper Or An
Accountant (2)
They're Not Just There To Keep The Books - They're To Help You Run Your Business
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Using a spreadsheet, Schwartz likes to show a business owner exactly how much the owner's
time is worth, then compare that figure to the cost of hiring a new employee or service provider. "In a very small
business, with one or two employees, the cost of adding another employee does not add very much to overhead," she
says. "Usually, you already have the space; it's just a matter of adding a desk or a computer. Or more often the
new employee will work from home."
The added salary, Schwartz says, can be justified in two ways: The owner has more time to devote to the core of the
business (which leads to more income) or more time to enjoy life. "I can show somebody how much it will cost to buy
back a couple of hours a day just to get out and take a long walk," Schwartz said in a telephone interview, after
having taken, that very day, a long walk by a lagoon in her seaside town.
Schwartz says she usually succeeds in persuading an owner to hire another salesperson or a bookkeeper. "Most people
do start out doing the books themselves," she says, "or having their wife or husband do it at home. Most of them
kind of learn as they go." Many of Schwartz's clients own restaurants; she says an owner can keep a competent set
of books working four or five hours a week.
A huge plus in keeping your own books is privacy. In effect, bookkeepers and accountants are the confidants of the
business world. You probably share more confidential information with them than with your clergyman. Think about
it. The trail left by your money reveals your life story. If you are having an affair and use a credit card to pay
for a hotel room, your accountant will know about it. If you order roses online, the charge will appear on your
credit card and may raise a question about whether or not they were a business expense.
That said, you have to balance privacy against the value of expertise. I recommend finding a bookkeeper or
accountant who specializes in your industry. You can start by contacting your industry association, or ask a lawyer
who knows your business. Last tip: Don't try to hire a bookkeeper or accountant between January 1 and April 15.
Jane Applegate is a syndicated columnist and the author
of 201 Great Ideas for Your Small
Business. For a free copy of her "Business Owner's Check Up,"
send your name and address to Check Up, P.O. Box 768, Pelham NY 10803 or e-mail it to info@sbtv.com. Joe Applegate
contributed to this article.
Source:
http://www.entrepreneur.com/money/moneymanagement/bookkeeping/article45628.html
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