Hire an Expert!
Step 1.
KEY TAKEAWAY: Ask yourself what bookkeeping tasks can a Virtual Assistant be trusted with and when it’s time to go to the experts. Professionals have the specialized knowledge and focus to manage your crucial financial data.
In this post I mention my personal experience with anxiety. I am not a mental health expert and do not claim to offer any medical advice. Please visit Canada’s Mental Health resources page for more information or if you need help.
As a small business owner, it’s tempting to try and save as much money as possible and do everything yourself. Or, if you are looking to outsource some difficult tasks in your business, you might think your virtual assistant could take on all of those bookkeeping tasks.
My Experience With Bookkeeping
When I bought my cafe & coffee roasting business, I thought I didn’t need to pay for something I knew how to do. I had taken multiple business accounting courses in my various post-secondaries and understood the fundamentals of bookkeeping.
What I didn’t realize was two things:
- The time bookkeeping tasks took up in my day to day.
- How my anxiety would manifest with invoicing.
My Main Bookkeeping Issues
Time Wasting
Daily cash-outs were by far what took up most of my time. Reconciling my merchandiser reports with tips and cash over/short, dealing with deposit slips and US exchange rates all were tedious and never-ending. If I didn’t stay on top of it, it became harder and harder to be motivated. Then my guilt and anxiety would build with a fun dose of overwhelm and it became even harder to get started.
Invoicing Sucks
I did not anticipate how anxious I would get when I was creating my invoices. Asking for money for products I provided, which in theory makes perfect sense, made me feel itchy and awful. I ended up avoiding that feeling, taking longer and longer to send out my invoices. Again guilt, anxiety and overwhelm took over.
What I Learned
Just because I am capable and know how to do something in my business doesn’t mean that I should force myself to do it.
Knowing how to work with my anxiety for this new business will be an ongoing process, but I do know one thing! My small business deserves the care and expertise of a professional in my financial setup.
Wrap Up
A great resource for more information on bookkeepers and accountants is the post Bookkeeper vs Accountants – Why you need both by Marloes van lent | Day 2 Day Books
Data entry was, ironically, one of my favourite duties in my previous jobs. Bookkeeping tasks, after being expertly set up, end up being mainly data entry. My experience with Quickbooks Online and Transaction Pro helped me catch up on my bookkeeping and I can help you catch up with yours!
