So Why Do I Need A Bookkeeper?

Good question.

First, it is required by law.
The IRS requires that “everyone in business must keep records”.
In essence, that means that you need to know where your money is coming from, and where it is going.
You also need to be able to explain this flow of money to the IRS should they ask (Audit).

A second reason would be so that the ability to present investors and banks with the most accurate and up-to-date data so they can make their investment decisions. If you can show them a clear picture of your business finance and future plan, you would dramatically increase your chances of getting a loan or drawing investors.

Third, taxes.  A major concern for many businesses is taxes. Good bookkeeping makes the tax filing process easier and smoother. Having your books ready on time for those dreaded deadlines will not only save you time, effort, and money but also will let you sleep better at night, knowing you have everything you need.

Another reason would be cash flow management. 

According to Preferred CEO, one of the main reasons for failing businesses is poor management with regard to cash flow. In other words, you’re spending more than you are earning. The good news is that if your books are up to date and organized, you can quickly identify dangerous patterns and threads, and can pivot the business direction. By forecasting and budgeting, you can usually avoid this situation altogether.

Having a good bookkeeper that you can trust, would allow you to focus on growing your business and making sure you’re going forward, not backward.