When is the Time to Change Bookkeepers ?
There comes a time for any business, no matter what the size, that it's time to replace or eliminate an employee's position. This article is written for the business owner who has a bookkeeper and has given some thought to this topic. As business owners, we need to make tough decisions all the time. Perhaps, one of the hardest decision involves eliminating or reducing the hours of an employee. Lets face it, nobody likes to terminate an employee, especially in this economic environment. We all know, that its important to care about other people, so this type of decision is special and often is hard to make. Sometimes your perception of the problem is blocked by your feelings for the employee. So instead of making a decision, your perception creates a series of thoughts about the problem that results in no decision. This is article is written to help you realize that it's time to make a decision.
If you are a small business owner there may be no one to talk too, so the decision is often hard to make. Or perhaps pressing business priorities prevent you from devoting the necessary time to this problem. Below are 10 indicators to help you make that decision or to reinforce your decision to change your bookkeeper. If you can relate with a couple of these reasons and you believe that the problem cannot be corrected, then it may very well be the right time to terminate your bookkeeper or reduce their working hours.
1. Financial information is always received late and when received, it has mistakes.
2. You or someone in your family are financially and computer savvy and have the time to do the bookkeeping.
3. You need to replace the income of your wife, your parents, your in-law(s) or other family members.
4. Your bookkeeping doesn't seem as complex and you are too dependent on the bookkeeper.
5. You have discussed this problem with your employee, have concluded that it can't be fixed and you have made every effort to be fair and equitable.
6. You don't understand what the bookkeeper is saying.
7. Your bookkeeper is always too busy to give you the answer to your questions.
8. Your bookkeeper lacks a sense of urgency and priorities.
9. Net profits are shrinking and you think you have too many people employed.
10. Self Realization - It just makes sense, it feels right and you haven't had the time to terminate your bookkeeper or reduce the bookkeeping hours.
Sometimes no decision is the wrong decision. If you have experienced one or more of the aforementioned indicators then it may make sense to internalize the bookkeeping within your family, assuming the replacement person is, or willing to learn, how to be computer and financial literate. Before making this decision, ask your CPA or accountant for their input.
If you are a small business owner there may be no one to talk too, so the decision is often hard to make. Or perhaps pressing business priorities prevent you from devoting the necessary time to this problem. Below are 10 indicators to help you make that decision or to reinforce your decision to change your bookkeeper. If you can relate with a couple of these reasons and you believe that the problem cannot be corrected, then it may very well be the right time to terminate your bookkeeper or reduce their working hours.
1. Financial information is always received late and when received, it has mistakes.
2. You or someone in your family are financially and computer savvy and have the time to do the bookkeeping.
3. You need to replace the income of your wife, your parents, your in-law(s) or other family members.
4. Your bookkeeping doesn't seem as complex and you are too dependent on the bookkeeper.
5. You have discussed this problem with your employee, have concluded that it can't be fixed and you have made every effort to be fair and equitable.
6. You don't understand what the bookkeeper is saying.
7. Your bookkeeper is always too busy to give you the answer to your questions.
8. Your bookkeeper lacks a sense of urgency and priorities.
9. Net profits are shrinking and you think you have too many people employed.
10. Self Realization - It just makes sense, it feels right and you haven't had the time to terminate your bookkeeper or reduce the bookkeeping hours.
Sometimes no decision is the wrong decision. If you have experienced one or more of the aforementioned indicators then it may make sense to internalize the bookkeeping within your family, assuming the replacement person is, or willing to learn, how to be computer and financial literate. Before making this decision, ask your CPA or accountant for their input.
About the Author:
Learn how QuickBooks Online offers the essential online accounting tools to manage your business and the freedom to access your financial information from work, home, or the road. Sandor Lenner, C.P.A. has provided accounting services for 35 years. He is also a Certified QuickBooks ProAdvisor and offers QuickBooks online support for a Miami Accounting CPA firm.