The cost-effective method of bookkeeping for small business
According to Surveys, over half of business owners say that bookkeeping is their least favorite task. The fact is, no one starts a business to become a bookkeeper. It’s a time consuming and difficult task where mistakes can be costly. But no matter how begrudging bookkeeping can be—it’s a necessary part of any successful business infrastructure.
Choosing the right option for your business can be difficult. There are hundreds of accounting firms and software solutions to choose from, and what works for one business owner might not work for another. But before you can even begin to consider which service provider to choose—you must first decide which method is best for you.
The “Semi-automated” Method: DIY Software
DIY software is an increasingly popular option, giving business owners a great UI to track their finances. Companies like Zoho, Quick Books provide robust mobile application that can help facilitate easy reporting the expenses/ revenues/raise invoices and automate the process. Look at the video here.
You just need to hire a part-time accountant for day or two in a month to do end reconciliations and consolidations, this save money when it comes to hiring a traditional accountant and bring a better expertise on table at affordable cost.