Why Work With Us For Your Xero Bookkeeping Needs?

Since bookkeeping doesn’t necessarily make any profit, as a business owner, you’re probably hesitant about taking this task into your own hands. This is why the best solution to this is to hire a part-time or full-time in-house certified bookkeeper, or to outsource reputable bookkeeping firms. Sure, the DIY approach can help you save a lot of money, but passing it to a firm or hiring an in-house bookkeeper definitely has its benefits. As certified bookkeepers, we at Edge Small Business Consulting offer cost-effective and reliable bookkeeping solutions to ensure that your business stays on the right track. We are Xero bookkeeping specialists too, and we’ll work with you from start to finish until you reach your financial goals.

DIY Bookkeeping: Advantages

Going the DIY route is fine if you own a start-up and bookkeeping still isn’t that complicated. Here are the other pros of this approach:

Saving Costs

This is the most obvious and number one reason why small business owners do bookkeeping themselves. Doubling as your business’ bookkeeper will save you the cost of paying for the services of a professional bookkeeper. 

When it comes to managing your books and tracking your expenses, using even a simple spreadsheet will do to help minimize your overhead costs.

First-Hand Information

Compared to hiring a Xero bookkeeping specialist, working on your business’ bookkeeping will give you first-hand information about where your business is financially. You’ll get a better understanding of where you spend money, and learn how seasonality and other factors can affect the growth of your business.

If by chance you also have advanced business experience, you can implement changes to your business so it continues to go forward.

DIY Bookkeeping: Disadvantages

Distraction

Bookkeeping requires your time and attention. This means DIYing your bookkeeping will give you less time to address the most crucial part of your business: how to generate profit.

Lack of Interest

Working as the boss and bookkeeper of your business may cause you to lose interest and neglect the long and boring process of recording your business’ finances. Making this mistake will get you in trouble, making the ATO ask for a mandatory audit.

Xero Bookkeeping: Advantages

We recommend working with us and letting us manage your bookkeeping once your business starts expanding. Here are the other pros of hiring a certified bookkeeper:

Time Savings

The thought of doing your own bookkeeping can be exciting. However, as your business starts to grow, financial records and transactions also get longer and you may find it difficult to track, record, and reconcile your finished transactions. 

If you work with us from the first day itself, we will not only take the weight off your shoulders but you’ll also be able to focus on ways on how to generate more income.

Valuable and Timely Advice

As an owner, you may think that you have a clear picture of what’s going on with your business. This isn’t entirely wrong, but there’s so much more a Xero bookkeeping expert can bring to the plate.

Working with us means you’ll gain access to specialized advice and business-specific insights. We will analyze the things you’re doing right and suggest what else you can do to lead your business to success.

Xero Bookkeeping: Disadvantages

Let’s be real: working with us may also have some cons on your part, including:

Extra Costs

This can be an issue if you’re on a tight budget. While we do offer affordable hourly and fixed-priced packages, it can still be a big barrier if you wish to minimize your expenses as much as possible.

Privacy Issues

Maybe you’re one of those business owners who don’t like working with professionals because your bank or credit card information may be leaked online. This is why we always advise you to do some research first to know if a bookkeeping firm is reputable or not.

Edge Small Business Consulting: Your Xero Bookkeeping Experts

It can be tempting for first-time business owners to take on the role of being a bookkeeper. Perhaps you’re too stubborn or even embarrassed to get help. But if you know deep down that there’s a gap in your knowledge, it’s better to ask for help from the beginning rather than letting small problems pile up in the long run.

This is where our team can help. We can walk you through the basics of bookkeeping (using plain English) and we’ll help you make the switch to cloud-based computing, so doing your books would be the last thing you need to worry about.

If this sounds like something you can use, don’t hesitate to call and make us your Xero bookkeeping specialists today.