{"id":12521,"date":"2017-11-20T09:32:28","date_gmt":"2017-11-20T16:32:28","guid":{"rendered":"https:\/\/honeybook.site.strattic.io\/?p=12521"},"modified":"2022-07-28T13:40:22","modified_gmt":"2022-07-28T20:40:22","slug":"hire-bookkeeper","status":"publish","type":"post","link":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/hire-bookkeeper","title":{"rendered":"Behind-the-Scenes: What Working With a Bookkeeper Is Really Like"},"content":{"rendered":"
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You\u2019ve passed the point of DIY bookkeeping, and you\u2019re finally ready to hire a <\/span>bookkeeper. (YAY, congrats!) <\/span>Naturally though, in the midst of the excitement of taking another big step as a <\/span>business owner, you might be feeling some hesitation around sharing all of the <\/span>nitty-gritty details of what\u2019s happening financially in your business with another <\/span>person. <\/span>I get it, it takes a lot of trust to let someone else in on what you\u2019re spending your <\/span>money on and how much you have (<\/span>or haven\u2019t<\/span>) saved for taxes. <\/span><\/div>\n
First, bookkeepers aren\u2019t here to judge you. We\u2019re here to help you make the best <\/span>use of your money and make sure you\u2019re prepared for tax season. <\/span>Second, what I find helps entrepreneurs feel more confident when hiring a <\/span>bookkeeper is when they know exactly what to expect. <\/span>That\u2019s why I thought it would be useful to give you a behind-the-scenes look into <\/span>what it\u2019s really like to work with one. <\/span><\/div>\n
\"The<\/div>\n
<\/div>\n
I: When You Start<\/strong> <\/span><\/div>\n
When you start working with a bookkeeper, you might switch over to his preferred <\/span>software, which is something you may have discussed during your initial <\/span>consultation.\u00a0<\/span><\/div>\n<\/div>\n<\/div>\n
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Once your account is set up in a cloud-based bookkeeping software, like Xero or <\/a><\/span>Quickbooks Online, you\u2019ll need to figure out how you\u2019ll send all of your financial <\/span>documents (bank statements, credit card statements, PayPal transactions, Square <\/span>transactions, Etsy transactions, etc.) to your bookkeeper each month. <\/span>She might ask that you send the documents to her via a file-sharing service like <\/span>Dropbox, or she may have you use a\u00a0<\/span>more specific service like Hubdoc.\u00a0<\/span>You\u2019ll also want to clarify in advance who is responsible for\u00a0<\/span>filing quarterly and <\/span>yearly taxes.<\/span>\u00a0If you\u2019re in Canada, like I am, quarterly sales taxes are due at the end of <\/span>the month and you have to sign up for them in advance. <\/span><\/div>\n
<\/div>\n
II: Monthly Work<\/strong> <\/span><\/div>\n
At the beginning of each new month, you\u2019ll send all of your financial documents and <\/span>receipts to your bookkeeper. <\/span>Here\u2019s a tip<\/span>: If you\u2019re in Canada, you\u2019ll need to keep all of your receipts for at least <\/span>seven years — even if you\u2019ve already submitted them to your bookkeeper. If you\u2019re <\/span>in the States, you don\u2019t have to worry about this. A credit \/ bank statement suffices <\/span>as proof. <\/span>Your bookkeeper will then be able to reconcile your accounts, or make sure your <\/span>bank account balance matches your bookkeeping software balance.<\/span><\/div>\n
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Throughout this process, your bookkeeper will be able to check for any outstanding <\/span>invoices<\/a> that still need to be paid and can write off any bad debt from invoices that <\/span>won\u2019t be paid. <\/span>I recommend marking this on your calendar so you\u2019re less at risk of letting financial <\/span>documents pile up and then inundating your bookkeeper with them after three <\/span>months. <\/span>Some bookkeepers may offer a monthly meeting to discuss your financial reports<\/a> <\/span>with you as well. <\/span><\/div>\n
<\/div>\n
III: Quarterly and Yearly<\/strong> <\/span><\/div>\n
If you pay sales and income tax on a quarterly basis, your bookkeeper will send all <\/span>of your financial documents to your tax preparer. <\/span>She\u2019ll also review your profit and loss reports, otherwise known as an income <\/span>statement, to help you evaluate the financial health of your business. <\/span>Finally, at the end of the year, she\u2019ll do something called \u201c<\/span>closing your books<\/span>,\u201d which <\/span>is a process that helps you get ready for tax time and gives you all of the juicy <\/span>information you need to review your year so you can plan for the next one. <\/span>Overall, I know that hiring a bookkeeper can feel like a big leap for a creative <\/span>solopreneur, but doing so will also free up your time, save you money, and help you <\/span>relax during tax season.<\/span><\/div>\n
Make sure you hire a bookkeeper you can trust, hand over the money stuff you <\/span>never enjoyed anyway, and then rest easy knowing she has your best interests in <\/a><\/span>mind.<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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You\u2019ve passed the point of DIY bookkeeping, and you\u2019re finally ready to hire a bookkeeper. (YAY, congrats!) Naturally though, in the midst of the excitement of taking another big step as a business owner, you might be feeling some hesitation around sharing all of the nitty-gritty details of what\u2019s happening financially in your business with […]<\/p>\n","protected":false},"author":254,"featured_media":76795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[26],"tags":[349,350],"class_list":["post-12521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-tips","tag-accounting","tag-bookkeeping"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1.jpg",1125,750,false],"thumbnail":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1-150x150.jpg",150,150,true],"medium":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1-300x200.jpg",300,200,true],"medium_large":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1-768x512.jpg",768,512,true],"large":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1-1024x683.jpg",1024,683,true],"1536x1536":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1.jpg",1125,750,false],"2048x2048":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2017\/11\/Kaboompics_Karolina-1.jpg",1125,750,false]},"post_excerpt_stackable_v2":"

You\u2019ve passed the point of DIY bookkeeping, and you\u2019re finally ready to hire a bookkeeper. (YAY, congrats!) Naturally though, in the midst of the excitement of taking another big step as a business owner, you might be feeling some hesitation around sharing all of the nitty-gritty details of what\u2019s happening financially in your business with another person. I get it, it takes a lot of trust to let someone else in on what you\u2019re spending your money on and how much you have (or haven\u2019t) saved for taxes. First, bookkeepers aren\u2019t here to judge you. We\u2019re here to help you…<\/p>\n","category_list_v2":"Finance tips<\/a>","author_info_v2":{"name":"Lisa Savage","url":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/author\/lisasavage"},"comments_num_v2":"1 comment","yoast_head":"\nHiring a Bookkeeper - What Working With One Is Really Like | HoneyBook<\/title>\n<meta name=\"description\" content=\"Feel confident hiring a bookkeeper for your business. 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