In a survey published in 2015, Entrepreneur Magazine revealed that one of the least fulfilling tasks that business owners deal with is…(drum roll, please)…bookkeeping! Wait – you mean bookkeeping isn’t a non-stop party?? Isn’t your friendly Xero accountant a real party animal?* Ok, not really. Anyway, business owners dislike bookkeeping for a number of reasons, but the magazine found that the big ones are:
- Bookkeeping isn’t easy. It’s tough to learn new accounting software and then keep up-to-date with it. Accounting applications change constantly, as do financial regulations.
- It’s not much fun. Bookkeeping involves number crunching and dealing with boring things like dollars coming in – well, probably dollars going out is less pleasurable – and handling receipts. Booorrring.
- It takes up a lot of time, and time is usually more valuable to business owners than…wait for it…money!
You went into business for yourself because you wanted freedom, control over your life and finances, and you’re great at your chosen niche. But you likely didn’t go into business because you enjoy updating spreadsheets, learning the ins and outs of accounting software, logging receipts, or reconciling bank statements. If you don’t like bookkeeping, why are you dealing with it? Shouldn’t a Xero accountant or bookkeeper handle those tasks?
Well, you probably feel that you need to be as “hands on” as possible where the dollars and cents surrounding your business are concerned. That’s understandable. You’re concerned about being out of the loop of your company’s finances. We get that. However, today’s accounting applications – like the Xero accounting software that we at Statera Services specialize in – are not only robust and designed to handle every aspect of your operation’s finances, they are built to give you up-to-the-minute insight into your financial status. With applications like Xero, you can grant only the access necessary to your bookkeeper and accountant to complete specific accounting tasks. Likewise, you can limit other staff members in your company so that they’re able to view reports without editing or updating any information. Access is completely controlled by you, the business owner. Not only can you grant or limit access to the software, you can see who has logged in, at what time, and how often. “Old school” desktop-based accounting software doesn’t offer this kind of security.
Beyond security issues, however, why deal with such a major component of your business operation that you simply lack expertise in? You’re an expert at, well, the services and products that you provide. Stick with that. That’s what will give you great success, and what you enjoy doing.
*Sorry, we don’t publish a “How to Party Like a Xero Accountant” pamphlet. However, since you don’t like bookkeeping, let Statera Services handle it for you! We…um…kind of, well, like it. Yes, we’re weird like that. Contact Statera Services today.