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When Should You Hire a Bookkeeper?


It’s hard to believe, but it’s 2019!  Technology rules.  We carry powerful computers in the palms of our hands.  Driverless cars are a real thing, and artificial intelligence abounds.  We are living more like the Jetsons, and less like the Flintstones.  Some of us struggle with manual tasks and we are told “there’s an app for that”.  Television ads featuring Danny Devito espouse the wonders of QuickBooks.  QuickBooks is a wonderful thing.  As a business owner, it can definitely make your books and records neater and more organized.  If you use it to record your income received and your expenses paid, it can be a powerful tool.  With some background in accounting, QuickBooks can provide you with timely reports and information that helps you do what you do best – run your business.  When tax season arrives, QuickBooks allows you to easily electronically transfer your files to us; your accountants and advisors.  Sometimes this is a good situation.  If you have made the required entries sent to you for prior years and you balance your bank statements, then often times the files and or reports we receive are helpful and we can efficiently prepare tax returns.  But sometimes,    QuickBooks can cause anguish.  QuickBooks has lots of modules that seem easy to use.  Add-ons for payroll and inventory and receivables and payables integrate seamlessly and may empower you to take on the role of comptroller.  But, please note, it is relatively easy to post things into the wrong account and even the wrong year in QuickBooks.  Prior periods cannot be locked so at times a user can inadvertently change “retained earnings” from a prior year.  When these things happen, our job becomes more difficult.  We often need to troubleshoot and find the source of the error or change before we can start the preparation of the current year’s tax return.   The time and money you have now saved doing your own books will be undone by the time and energy we need to expend to adjust the books and records to actual.  But don’t despair.  There are all sorts of solutions and situations.  As your business grows, it can be cost effective to hire a professional bookkeeper.  This sounds counterintuitive, as bookkeepers can be costly, but in reality, a bookkeeper can save you money.  As a professional, their training and knowledge can result in fewer errors in your books and records.  There is less of a chance of an expense being posted to a balance sheet account or vice versa.  A bookkeeper may be able to find efficiencies that you overlooked.  A bookkeeper can help set up systems and procedures that eliminate human error and provide you with more time to take care of business.  If you have ever struggled to keep your books, or you have wasted time posting payroll, or you’re just not a numbers person – you are not alone.  Call or email us and we can help find someone or some product to help.

Donna Elgart Medoff, CPA, is a Tax Manager at Katz, Nannis + Solomon, P.C. If you have any questions or would like to speak with one of our tax professionals, please contact our office at 781-453-8700.


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Katz Nannis + Solomon PC
800 South Street Suite 250
Waltham, MA 02453
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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