7 Signs Your Business Has Outgrown DIY Bookkeeping

Doing your own bookkeeping can make perfect sense when you're first starting out.

You've only got a handful of customers, a few bills to pay, and your bookkeeping might only take an hour or two each week.

But as your business grows, things can start to get a little more complicated.

Suddenly there are more customers, more bills, employees, vehicles, equipment, tax obligations… and less time to deal with it all.

If any of these sound familiar, it might be time to think about getting some help.

1. Your bookkeeping keeps getting pushed to the bottom of the list

“I'll do it tonight.”

Then tonight becomes tomorrow.

Then tomorrow becomes next week.

Before you know it, you haven't touched your books in a month.

You're busy running your business, and bookkeeping isn't exactly the most exciting job on your list.

But falling behind means you don't have a clear picture of what's happening with your money.

2. You don't really know how much money you're making

You know how much is in the bank.

But do you know how much you're actually making?

There's a difference.

You might have plenty of money in the bank one week and not much the next.

If you're unsure whether your business is actually making a profit, your books can help answer that question.

3. You're spending your evenings catching up on paperwork

If you're finishing a full day of work and then sitting down at night to deal with invoices, receipts and bookkeeping…

that's time you could be spending doing almost anything else.

Your time is valuable.

And if you're spending hours every week trying to keep your books up to date, it might be time to hand it over to someone who does this every day.

4. You have no idea who owes you money

You've finished the job.

You've sent the invoice.

But has the customer actually paid?

When you have lots of customers, it's easy for an unpaid invoice to slip through the cracks.

Keeping track of who owes you money can make a big difference to the money available in your business.

5. Your business has started to grow

More customers are great!

But more customers usually means more invoices, more expenses, more transactions and more things to keep track of.

What worked when you were a one-person business might not work once you've grown.

And that's a good thing.

It means your business is growing.

Your bookkeeping just needs to grow with it.

6. You're nervous every time BAS time comes around

If the words “BAS is due” make you want to hide under your desk… you're not alone! 😂

Trying to work out what needs to be done when your books aren't up to date can be stressful.

Having your bookkeeping kept up to date throughout the quarter means BAS time doesn't have to become a last-minute panic.

7. You'd rather be running your business

This one is probably the biggest sign of all.

If you find yourself thinking:

“I wish someone else would just take care of this.”

That's probably your answer.

You didn't start your business because you wanted to spend your evenings sorting receipts and trying to work out why your accounts don't balance.

You started it because you had something you wanted to build.

You don't have to do everything yourself

Doing your own bookkeeping isn't a bad thing.

For some businesses, it works really well.

But as your business grows, your time becomes more valuable.

Getting help with your bookkeeping isn't about admitting you can't do it.

It's about deciding where your time is best spent.

Ready to stop doing it all yourself? Book a free chat with Jen at Alpha Bookkeeping and let's see how I can take your bookkeeping off your hands.👉 Get in touch today