How to keep your bookkeeping costs down

Bookkeeping is a necessary evil and there is nothing sexy about it… (well maybe sometimes).

It is a job better left for those of us who do find it sexy.    While you do have to pay for the service, it shouldn’t be a budget buster.

Here are a couple of tips to keep the costs down.  (at least this is how it works at my firm)

1. Remote vs. Onsite work - Onsite work is more expensive. There is travel time, making appointments, rescheduling appointments, waiting for the next visit to have a discussion or resolve a problem, having workspace and sharing your computer, plus the higher hourly fee that goes with an onsite visit.    Remote working is flat rate based on the number of transactions that are processed.  Communicating via text and e-mails your questions and problem can be responded to within 24 hours.  No need to make appointments so you are free to do your thing.   No need for the extra computer or space.

2. Have all your information - clarity of information is key.   Have all of your bank and credit card statements (not just some months you found in the pile).   Mark your receipts with any project numbers or special treatment.  If you still are writing checks, have a check register which included check number, date, payee (who you paid) and what it was for.   Nothing is a mood killer like looking at a bank statement with just check numbers and amounts and then having to source the information.  All of these steps keep things moving quickly.

3. Use Technology, cloud computing is your friend here, use online project management software, accounting software, CRM systems.  It makes communication and transfer of information much smoother.

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