DIY Bookkeeping Stunts Your Growth

How hard is it to keep cash flowing through your business? Would you believe that well over half of small businesses cite cash flow problems as a factor in their failure? Many new business startups fail in their first year mainly because they made huge errors with their basic bookkeeping. This mainly came down to them being inexperienced and attempting to take care of the books themselves.

The DIY approach to bookkeeping is a huge detriment to your business growth, but you may not realise it until it is too late.

Inaccuracies

When you are a small business owner you have to take on board a lot of jobs yourself to keep things growing. It makes perfect sense to save money whilst you start. However, having those responsibilities means that somewhere in the process you are procrastinating, and the one area that gets pushed aside and forgotten about is the financial matters of the business.

Soon enough, those stacks of paperwork, receipts, invoices and others have piled up to the point it will now take forever to sort out and organise – and then the irregularities such as non-updated books, late filings, payroll errors and no supporting information for receipts begin to engulf you to the point that you begin to wish you never started the business.

You soon discover that this is the very least of your problems too.

Zero Expertise

Now you see it all, you have to handle it all – and this is where you suddenly realise you have no expertise for this level of workload. You are not Quickbooks certified or any level of bookkeeping expert, and quite possibly you have no idea about the latest tax updates.

Now everything you try and do could result in a more costly error, and your basic accounting skills make you feel like you have brought a toothpick to a knife fight. Time may now be against you also, as you try and wade through the papers to find more and more being placed on your desk to handle.

Can you get all of this done in time for the tax deadline and still spend time with your company?

Lack of Time

Small business owners take on the DIY bookkeeping route because they feel, like other initial areas, it can be a cost-effective move. The reality is that DIY bookkeeping is more costly in the long run and leaves you open to tax issues, hefty penalties and problems with your cash flow.

Contact the team at Pebbles Bookkeeping today for bookkeeping services and for small business bookkeeping solutions that help to keep you exactly where you should be and grow as a result.

Don't just take our word for it...

Sarah Rekia, Site Welfare

“In bringing Pebbles onboard, it has made me wonder why we decided to try and do our own bookkeeping at all. Pebbles came in and sorted 18 months worth of mess we had unwittingly created, and we cannot be more grateful. I wish I had been told about them years ago and I hope every business out there struggling would give them a call to fully see the benefits they are missing out on.”

Lisa Heggie, The Gunnery

A massive thank you to Diane at Pebbles Bookkeeping & HR. You took the huge stress away from where do I start, with employee policies etc. You have created us a great, informative employee handbook, covering all necessary policies and risk assessments in a matter of no time and from the other side of the world too. I will definitely be in touch for any future help our company needs.

Steve Price, BWP Inspire

“We have now been working alongside you with various clients. In some cases, we have introduced you to our clients and in other cases you have worked as part of our team. Every time we have brought you in you have done a great job. We now see you as an extended part of our team. You have proved to be professional, flexible and above all competent in getting the work done. We would not have any hesitation in recommending you again, and we look forward to working with you more in the future.”

Anne-Marie Armstrong, Amberry Marketing

I just wanted to thank you both for the help you’ve given me thus far in setting up my new cloud-based bookkeeping system ‘Clearbooks’.

Having used Microsoft Excel for more years than I care to admit, I had more than a few reservations when considering changing the way I managed my books, yet understood that I had to make the change sooner or later.

After an intense training session with Sean, (where I probably asked 101 questions), my fears quickly dissipated and I can honestly say that although it’s likely to take me a little while to really get to grips with the new interface, I’ve no doubt that this simple system will save me so much time and hassle in future.

And less time spent doing my books, almost certainly means more time with the family and an end to rushing around like a mad woman at quarter-end!

Thanks again and I’m looking forward to working with you again soon.

Wayne Dinning, Managing Director, SD Waste Paper Limited

Diane has been providing her services to my company for approximately 6 months now and I can honestly say that due to her assistance, my company is running a lot more smoothly than it has at any time over the previous 30 years that it has existed.

I would just like to say that I would recommend her services to any business, whatever the size, as I can only see that her services would be beneficial to any company that may choose to employ her services.