How you spend your time is one of the biggest factors determining the success of your business.
You can be the most efficient person in the world, but if you’re focusing on the wrong things, you’re completely wasting your time.
Automating your bookkeeping can free up hours of your time, allowing you to focus on the areas of your business that really matter.
There are 3 key indicators that you need to automate your bookkeeping.
1. Spending hours on data entry
Are you manually entering sales data into accounting or importing messy CSV files? On average SMB businesses spend 40+ hours per month on sales data entry.
Automating your bookkeeping will eliminate all this tedious work, giving you a significant chunk of time back.
2. Paying too much on bookkeeping fees
Bookkeepers aren’t cheap. With no more manual data entry, your bookkeeper will charge less on fees.
You’ll also be using your bookkeeper more effectively – rather than just entering data, they can help understand what the financial reports mean for your business and how to improve.
3. Lots of human errors
Humans aren’t perfect, so with manual data entry comes human errors. Automating your bookkeeping completely eliminates human errors. No more scratching your head wondering why the books don’t balance!
4. Records out-of-date
Let’s face it, data entry isn’t exactly on the top of your to do list. You might find that this leads to your records being constantly out of date.
With automated bookkeeping, your books are always up to date. This means you’re always on top of your business.