You are probably already aware of the fact that bookkeeping is a necessary evil in running your small to medium business enterprise. Michael Gerber, the author of the E-Myth revisited, outlines perfectly the challenge most small to medium businesses have, which is spending too much time working in the business doing the minor things like bookkeeping. Rather than consume your valuable time chasing receipts and reconciling your accounts, you should be focused on the big picture activities which allow you to work on your business and leverage your time and money to the greatest extent. In this article we will have a look at how bookkeeping can streamline, simplify and help grow your business.

Simplifying your business with a professional bookkeeper

Bookkeeping is simply the recording of all those transactions your business makes on a day-to-day basis and ensuring they are kept in an easy to access and efficient system. The major difference between small to medium business and the large corporations are the systems they employ in order to simplify their day-to-day operations.

One of those critical elements of succeeding as a business is to keep all your accounts in line and in check so you can access the critical numbers of your business at any point in time. Unfortunately you can't improve what you don't measure and this is one of the critical skills a qualified bookkeeper and business consultant is able to bring to the table. When you begin keeping track of the key numbers in your business you will be able to see trends and the potential problems well ahead of time and be able to take decisive action on them.

Using the right bookkeeping service to help grow your business

The old saying will ' if you're not growing, you're dying' is especially true when it comes to business. As a business owner it is critical that you keep the wheels in motion by employing the right marketing and sales systems in order to grow your business. Aligning yourself with a bookkeeping service that has the foresight and knowledge to work with you in a business development and business coaching capacity is essential. The reality is a quality bookkeeping service has their finger on the pulse of your business and understands precisely the balance required for cash coming in versus cash coming out, allowing you to address any potential cash flow challenges in the foreseeable future.

Why should I hire a bookkeeper, can't I do it myself?

Perhaps in the early days of running your small business when the number of accounts coming in and the number of receipts is low, it might make financial sense to do it yourself. Unfortunately there are a lot of regulations involved in keeping your day-to-day transactions in order and implementing the correct bookkeeping solution is going to be paramount to ensure your short, medium and long-term success as a business.

In today's day and age there is a lot more to bookkeeping than simply filing your receipts and entering those details into MYOB or QuickBooks. Hopefully now you can begin to see why hiring a professional bookkeeping service is not only the smart thing to do but will pay you dividends well into your future.