Bookkeepers don’t just save you time… they can also save you money

Running, and growing, a business takes an enormous amount of time and energy. And as a successful business owner, it’s hard to balance all your priorities: marketing, sales, delivery, finances, HR; so it’s important to have the right team around you.

That’s where a qualified bookkeeper comes in. Not only can they save you time so you can focus on your other priorities, they can also help your business to run more efficiently and reduce your accountancy bills.

How? We’ll get to that. But first, let’s start with the basics…

What does a bookkeeper do?

A preparatory bookkeeper's role is to keep your day-to-day financial records accurate, organised and up to date.

They use accounting software to help clients create cleaner, more efficient financial processes.

That means:

✅ receipts properly matched

✅ transactions investigated

✅ irregularities spotted and corrected

✅ automation set up where possible

✅ less chasing at year end

And when your bookkeeping is looked after properly, your accountant can focus on what they do best: advice, compliance, and financial insight, instead of detective work.

How can a bookkeeper save me time?

Perhaps you’re reading this and thinking 'but I can do all that bookkeeping stuff myself'.

And you might be right.

Many business owners can, and do, look after the bookkeeping tasks themselves. But ask yourself these questions:

• Are you familiar enough with your accountancy package to know you’re using all the relevant features?

• Are you up to date on the latest tax laws and legislation?

• Are you confident that you’re getting an accurate picture on your cash flow, profitability, overdue invoices and financial reports?

• Do you have processes and systems in place to collate receipts, track overdue invoices and see accurate financial data in real time?

• And honestly? Don't you have far more valuable things to do than spend evenings knee-deep in receipts, matching income and expenditure and working out how to categorise transactions?

Michelle, By Your Side’s Bookkeeping Specialist, is AAT level 2 qualified and primarily works with Xero meaning that she understands how to get the most out of the software and the additional tools and processes businesses can adopt to ensure that what business owners, and your accountants see in there, is accurate with minimal involvement from you.

How can a bookkeeper save me money?

Well that depends on who’s currently doing your bookkeeping.

Using your accountant? Many accountants can, and do, offer bookkeeping services. At a cost. Either at an accountant’s hourly rate or, if they’re outsourcing it to a bookkeeper, at a mark-up. Working with a bookkeeper directly is often cheaper. (Our bookkeeping hourly rate is £32.50/hour. How does that compare to what you’re paying currently?)

Doing your bookkeeping yourself? The accountants we work alongside regularly tell us that books prepared by us are easier and quicker to work with as they’re more accurate and reliable. When a bookkeeper is involved, your accountant isn’t spending valuable (and chargeable) time untangling transactions later on. And that often means lower accountancy fees.

Plus, having your transactions reviewed regularly by someone qualified means irregularities, miscalculations and problems will be identified early; avoiding potentially costly issues, and fees, further down the line.

Interested in outsourcing your bookkeeping to a qualified bookkeeper?

Take a look at our Bookkeeping Services for Small Businesses page to find out more about the Bookkeeping Services we offer and Michelle’s background, qualifications and experience.