Book keeper

Neon

Member
Hi all,

I am full time sole trader at the moment, I was wondering what your thoughts are on hiring a book keeper monthly? I have had a quote for £60 a month, they will do all expenses, sales/purchase ledgers, income, recepts etc. I currently do it myself using Excel but now have access to Quickbooks. Should I just continue doing it myself and save the money? The thing attracting me to getting a bookkeeper monthly is knowing it will be done properly, and also freeing up my time...but I am still only 15 months in so trying to be as frugal as possible. Any advice welcome!
Thanks
 
Hello. I have read about your situation. I understand that you are a sole trader and want to be frugal. The quote you have got sounds good. If you want to make things easy for yourself and free up time for yourself, then I would recommend you to let a bookkeeper take care of the accounting. But it seems that you already grasp the concept of bookkeeping, as you have been doing it for 15 months now, and perhaps you have a system in place. Let's say that you spend 15-20 minutes every day with putting in all the details from sales, receipts etc in the excel file. If things are going smoothly and you know what you do, then you can skip the part of hiring a bookkeeper. Also I think that if you take care of the bookkeeping yourself you will feel more responsibility and get a better understanding of your business's finances, so that will help you to be as frugal as possible. Just as you want.
 
Thanks Alex. I would like to outsource it if possible, so I will weigh up how much time I would free up. Realistically it will be 3 hours a month so it may be worth it! Mandy
 
I personally just use FreeAgent to manage my accounts, mainly because I can submit a tax return directly from there when it's due. It can take up a lot of time sorting through receipts or invoices though, especially if I haven't kept on top of them, so sometimes it's better to just outsource it to someone who will do it on a regular basis and have that extra time to yourself. £60 a month seems quite fair to me.
 
As @Paul Murray has mentioned here, the quote seems fair. If you want your bookkeeping to be handled by a professional with the benefit that you can free up some hours each month to do things that you love, then go for it. :)
 
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