Your Bookkeeping Sucks And Here's Why...

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Most small businesses are great at procrastinating with their bookkeeping until they really need something from it.  

Let's face it...bookkeeping is pretty unattractive to most business owners.  

It's not sexy.

It can be intimidating.

And it's boring.

Many business owners don't make bookkeeping a priority because they have not been shown how to use their small business bookkeeping as a tool to help them make better business decisions.  Every once in a while a business will need something from their bookkeeping and the eye opening begins.  

A neglected bookkeeping system will not be able to produce the information you need in a timely manner.  When you can't produce accurate business financial reports quickly to someone requesting them it is embarrassing.  It also says a lot about your business in a negative manner.  Once a business has failed to understand the financial reports good bookkeeping can provide them, they typically wake up and realize that bookkeeping is important and needs to be updated regularly.  

You know what I'm saying.

Now that I have your attention, here are all of the reasons why your bookkeeping sucks.

You do it Yourself and You Hate it

It's ok to be honest here. A lot of business owners hate bookkeeping. This is a common theme with small business owners.  Some cringe at the very mention of the word bookkeeping.  No doubt small business bookkeeping can be painful; and the further behind it is, the more painful it can get to bring things current.  As I said before, bookkeeping is not the sexiest of business tasks; but it needs to get done.  

What's the workaround? 

If you don't like bookkeeping find someone that does.  There are people out there that actually enjoy small business bookkeeping and they are pretty darn good at it.   

Just Not Enough Time

The number one excuse I see for not keeping updated books is the lack of time. It is not a lack of time that keeps you from updating your bookkeeping, it is a lack of making time.  People don't lack time they lack the desire to do all of the tasks that need to be done.  Unattractive tasks like bookkeeping get pushed further and further down the to-do list until you are tired and the day is over.  So you push it to the next day and then that day comes and you see bookkeeping at the top of your list.  Then you think of all the other things you would like to do other than bookkeeping.  This is a vicious cycle. Once you fall into this habit it's pretty tough to break.

What's the workaround?

Block off some time on your calendar each week for bookkeeping and get it done.  If you insist on overcoming these setbacks, look into a monthly subscription to keep you on track. Otherwise, heavily consider using outsourced bookkeeping services to keep you books updated on a regular basis.  

Lack Of Knowledge

Many business owners are not accountants or experienced bookkeepers.  While many may have a degree in business or some aspect of business they may not have focused in accounting.  That leaves most business owners with an accounting education that is an overview at best.  Even worse? That minimal accounting education may have happened a long time ago.  As time goes on that short stint of an accounting background fades away and bookkeeping becomes a more difficult task to accomplish with confidence.  If you don't use it, you lose it. Remember? So if you don't have the knowledge to do your bookkeeping anymore how do you get it done?

What's the workaround?

If you still want to do your own bookkeeping consider hiring an expert consultant to offer you QuickBooks and bookkeeping support. At the very least, don't be a martyr trying to Google your way through a double sided entry. Get the proper help.

You're not updated to the 21st Century

There are so many more reasons that your bookkeeping sucks. None of them are good reasons though.  Your bookkeeping system can provide you with valuable information that can help you run your business.  No matter what your reason is for letting your bookkeeping look like a hideous creature from the Black Lagoon, shift that thinking and find a way to keep it updated. You have solutions. Use them to your advantage.

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