1 – Hire a Data Entry Person

A data entry person on staff can be a valuable way to stay on top of your paperwork. This option works best if they have oversight.

Data entry people generally aren’t trained to notice errors, unusual entries, or cope with audit inquiries.

Without a certified bookkeeper or CPA on staff, errors often compound leading to a host of problems including phone calls from the CRA.

Oversight often falls to the too busy business owner, or the accountant.
Relying on your accountant to fix errors is expensive and sometimes, too late.

2 – Hire a Certified Full-Time Bookkeeper

A certified bookkeeper on staff will identify errors before they compound. They can provide support for job costing, keep an eye on cash flow, and navigate audits.

And most importantly, they can provide the insights and advice you need to make good financial decisions in your business.

This works great for large companies, but is often too expensive for smaller operations, especially when you factor in time payroll taxes, vacation and sick time. And you still have to provide coverage for when they’re off.

3 – Do It Yourself

When you’re just getting started in business, doing your own books is a great way to learn how to manage the financial side of your business.

As you grow, it gets harder to find the time to keep on top of all the paperwork, tax filings, bill payments, invoicing, and general cash flow management.

And if your spouse is doing it, it can become very time-consuming, require more expertise, and just generally stressful for everyone (especially if your family is growing too!)

4 – Outsource Your Bookkeeping

Outsourcing your bookkeeping to a trusted professional allows you access to the financial expertise needed to run your business, for a fraction of the cost of hiring in-house.

Providing help with everything from job costing to audit support, a certified bookkeeper on call helps you sleep at night knowing your business is financially strong.