Running a small business often means wearing multiple hats, you’re the CEO, sales team, customer service, and bookkeeper. Doing your own books might seem like a good way to save money, but DIY bookkeeping can cost you more than you realize.
Hidden Costs Include:
- Missed Deductions: Businesses often leave $3,000 to $8,000 on the table annually.
- Time Lost: If your hourly rate is $85 and you spend only 4 hours monthly on bookkeeping, that’s $340 per month-over $4,000 a year lost.
- Errors and Penalties: Mistakes can lead to penalties, interest charges, and stressful audits.
- Lack of Financial Clarity: Without clarity, you risk missing growth opportunities or failing to catch financial issues early.
How to Find the Right Balance:
- Start by outsourcing monthly reconciliations and tax preparation.
- Have a professional periodically audit your DIY work.
- Gradually increase professional support as your business grows.
At Methodica Solutions, we help service-based businesses avoid the hidden costs and headaches of DIY bookkeeping. We handle the details, capture all the deductions, and deliver clear financial insights, in turn giving you more time and peace of mind.
Ready to reclaim your time and stop leaving money on the table? Let’s talk.