Bookkeeping is dead!
Technology has killed it.
Have you ever heard of a Fortune 500 bookkeeper? No you haven’t. These companies used to hire clerks to enter data for their accountants to process. Then, they were the first organizations to take advantage of technology to keep track of their transactions.
A bookkeeper used to mean “one who keeps the books of a business or organization”. Today, however, bookkeeper means “one who enters data”.
But because of technology, paying someone to enter data is no longer needed.
If your small business follows the Stop Saving Receipts plan, then your bookkeeping is already done! It’s sitting in your online bank account downloads as a QBO file. Once data is in a digital format, it never has to be manually entered again.
Get rid of your bookkeeper, and get an accountant. An accountant will take your data, organize it and put it in a format that you should be able to understand. An accountant will also help you depreciate assets and amortize loans.
A general accountant is usually the best option for small business owners because they are not a bookkeeper and not a Certified Public Accountant. As a result, you get more bang for your buck without paying CPA prices.
Some organizations still have bookkeepers to enter their data, then they take their data to an accountant to sort it all out and make sense of it. Their books should be organized with their taxes in mind. More importantly, it should be presented so that business owners can understand it and make better decisions.
Get rid of your bookkeeper.