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Would it be daft using a book keeper when I have such a small business?

(5 Posts)
ColinFirthsGirth Wed 31-Dec-14 18:33:45

Hi everyone,

Firstly I would like to wish everyone a Happy New Year for tomorrow.

I am a self employed therapist and have been in business for 18 months. I don't have loads of book keeping to do but I procrastinate over it hugely as I don't like numbers and I really don't like doing it.
I would love to use a book keeper but would it be really daft when I haven't that much to do? I think I would feel better knowing it was being done efficiently and wouldn't have to worry about it getting it done. So I am wondering at what point in your business life did you use a book keeper and i is worth it?

Thanks

Supersusie Thu 01-Jan-15 21:36:55

I've never used one but it depends if you are employing anyone or operating as a sole trader. If you keep your own records then all you need is an accountant each tax year to do the work, or do it yourself online after taking advice. Depends what your turnover is.

Rowingdowntheriver Fri 02-Jan-15 07:14:36

As an accountant myself I find I need to spend far less time preparing accounts and a tax return for people who have used a decent bookkeeper than those who have had a go doing it themselves. A bookkeeper costs a lot less per hour than an accountant so you will actually save money.

Alternatively, your Accountant may be able to set you up with a bookkeeping process that they are happy with and that you can follow each month to do it yourself. I do this for some of my less complicated clients.

TalkinPeace Fri 02-Jan-15 19:12:20

agree with rowing

LonnyVonnyWilsonFrickett Sun 04-Jan-15 11:44:32

You need to look at the cost of your time, vs the cost of their time, and potentially a bit more for the hassle to decide if it's worth paying for the service.

I do my own books and tax return, too mean to pay someone else, although I did use an accountant for the first three tax returns until I felt confident with the process. It's not the funnest part of my business, but it needs to be done.

Agree with rowing though - can you get an accountant to help you set up the processes you need to do it easily? Mine really is easy - a time sheet for each job, a master spreadsheet for each year, a file for invoices and a folder for receipts.

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