When to Hire a Bookkeeper for Your Small Business
Trying to figure out the perfect time to bring a professional bookkeeper on board?
Here are some friendly tips and helpful guidelines to consider:
When DIY Bookkeeping Works Well
- Most people can manage bookkeeping for a small side hustle or early-stage business, especially if you have fewer than 50 transactions a month and mostly cash or credit card payments.
- If you understand the basics of accounting — like income vs. expenses, reconciling bank accounts, and categorizing transactions — you’re likely in good shape to handle it yourself.
- Do you have some time available each week to dedicate to bookkeeping? That’s a great sign you can keep it going.
- If you’re not registered for GST and PST yet, you have fewer regulations to worry about, making DIY simpler.
When It’s Time to Hire a Pro
- If bookkeeping starts to eat into your time and distracts you from growing your business, it’s a good idea to get some help. Letting someone else handle the books frees you up to focus on sales and other priorities.
- Tax filings like GST, PST, and CRA can get tricky. A professional bookkeeper ensures everything is filed correctly and on time, helping you avoid costly penalties.
- Planning to apply for a loan or funding? Clean, clear financial reports from a pro can make all the difference.
- When you start running payroll, a bookkeeper can keep you compliant and your employees happy by managing T4s, ROEs, and payroll remittances smoothly.
Doing your own bookkeeping can work well at first, but as your business grows, so do the risks. Hiring a bookkeeper brings peace of mind and frees up your time to focus on the parts of your business you love.
Contact us at admin@seinecalculations.ca or 204.422.2042 to find out how we can help!