Still trying to manage the books yourself? Are you spending too much time each month on your business finances?
Use this self-assessment checklist below to see if maybe it’s time to work with a professional accountant.
Self Assessment Checklist
- Do you spend more than 4 hours a month managing your business finances?
- Do you frequently put off managing your business finances?
- Do you sometimes skip your weekly/monthly finance review because you’re too busy with other business jobs or tasks?
- Are you timely and prompt with sending out invoices to your clients?
- Are all of your financial records digitized and backed up?
- Do you have trouble keeping your financial records organized?
- Are all of your accounts reconciled and balanced correctly?
- Could you face a financial audit confidently knowing all your records are in order?
- Do you have to spend extra time before tax season tracking down information and getting organized?
- Do you frequently list expenses as “miscellaneous” because you can’t remember what they are?
- Do you set financial goals for your business to make sure you are growing?
- Do you take the time to review your financial reports to identify ways to reduce costs and run more efficiently?
- If you used the time you spend managing your finances on work for clients, would you make more money?
