Having to work through a crisis of any nature is difficult. It can seem nearly impossible to separate fact from opinion from emotion. The 24-hour news cycle, combined with information coming at us from every angle on social media, can be overwhelming. To say the least.
Challenging times can come in many forms. At the time of this writing, the world is dealing with a large-scale pandemic. The coronavirus pandemic and resulting COVID-19 illness have turned the world on end. Not just personally but from a business perspective as well.
Many businesses have been forced to close while the country (and the world) is under quarantine. The stay-at-home order from our governments requires all non-essential employees to remain at home.
A large number of business owners have had to shutter their companies while this is going on. It is a complicated situation and one that we’ve never dealt with before.
The result? Well, if businesses are staying open and enduring during this crisis, they are having to cut back and become very “lean” in their finances. Layoffs and furloughs are an unfortunate reality in many cases.
If you are among those business owners, you are in the right place by reading this article. Even if your business has hit pause or slowed down, it is critical to keep maintaining your company books.
Your bookkeeping is the financial backbone of your operations, and ignoring it while in crisis will only lead to trouble.
Bookkeeping Services Can Save you Money
When you use a business bookkeeping service instead of having a full-time employee doing the job in-house, you save money. Bookkeeping services will generally cost less than a full-time employee and will not require you to provide insurance or other benefits.
You can also trust a bookkeeping service to be honest and upfront with you regarding the company finances.
Sometimes a full-time employee might want to paint a rosier picture than reality to save face in their jobs.
Your move? Find the best bookkeeping service you can and leverage their expertise to keep your books in order.
Using a Bookkeeping Service Means Hiring an Expert
When you hire a professional bookkeeper to handle the organization of your business finances, you are using an expert who understands all of the financial aspects of managing a medium or small business. They use specialized accounting software to track and work with your bank statements, monthly financial transactions, income and expenses, sales tax, and can produce financial reports to keep you informed.
During a time of crisis, you can count on this level of expertise to objectively handle things and ensure accurate financials for your company, especially if you are distracted handling the crisis.
A Bookkeeping Service Lets You Focus On What Is Important
We guess that you didn’t start your business or become an entrepreneur so that you could spend hours a day or week on your bookkeeping. We did, of course, but that’s because bookkeeping services is our job.
You started your business for another reason, and we want you to be able to focus on that. Especially during challenging times, you need to keep your business moving forward.
Perhaps the crisis is driving you to innovate or change your business in some way. You need time and energy to make that happen. Having a bookkeeping service handling the financials can liberate you to focus and do what you do best.
There are a few essential things to remember. First, a crisis can mean different things to different people. It can be as widespread as a pandemic or as contained as your star employee winning the lottery and leaving their position. We understand that, and it is our job to treat your crisis with attention and care.
Next, during hard times, you need to rely on a support team to guide you and help you through. That’s what we do best. We work to understand your needs and make sure your bookkeeping is handled expertly by bookkeeping professionals.
We encourage you to get ahold of us to discuss how our bookkeeping services can help you during a crisis.