There’s a term used in John Grisham’s book The Rainmaker: the young protagonist Rudy Baylor is told to begin working on his new law firm’s “fish files”. A fish file is a case that’s messy, ugly, and no fun to work on so it sits in a musty box in the corner. The longer you leave it, the smellier it becomes.
Your bookkeeping might be your very own version of a “fish file”. I get it. There’s lots of reasons why it’s no fun to dig into your financials.
Sometimes the pain of having to dig in can seem less than the pain of procrastinating, so we just keep procrastinating.
I’ve heard a lot of these objections business owners have to getting their finances in order and getting outside help. See if any of these apply to you.
1. Uh oh! My expenses are spread across both my business and personal accounts. I have to get that in order before I can talk to a bookkeeper so they don’t turn me into the IRS.
This is not the end of the world and in most cases it’s an easy fix, really.
We’re in your corner, we’ve most likely seen worse than you, and it’s easier to fix this if you start now. And to put it in perspective, the IRS audited only 0.7% of returns in 2015. Your chances of getting audited are pretty slim. So let’s get cracking, shall we?
2 . Well, my system is not ideal, but it’s workable and hiring someone to do it for me is expensive.
It’s probably more affordable than you think, and why would you want to spend time on the parts of business that you don’t like? Spend your time on the stuff you are good at and actually enjoy! Allowing us to help you get a better handle on your books will actually SAVE you money.
We’ll give you a monthly report that tells you how you’re earning and spending your money. A good profit and loss report allows our clients to easily see where they’re overspending, and cut 10% of their expenses almost immediately.
3. I kind of wish I knew a little more about the financials of my business, but what can bookkeeping really do?
Our convenient reports will show you month-over-month, quarter-over-quarter, and year-over-year changes in the financial state of your business.
For example, you might have known intuitively that summer is your busiest time, but if you knew you were 75% busier, on average, during those three months, you could hire a contractor to cover some of your work, expand your business, and take full advantage of the opportunities that are coming your way.
The great thing is that the sooner you start and the longer you stay with us, the more powerful these insights will become for you.