“I can get a bookkeeper for half the price!”
It’s not uncommon for prospective clients to confuse price with value for money. In any industry you’ll find cheap and you’ll find expensive – just go to a car sales yard. You can buy a car for $1000 and you can buy a car for $1,000,000.
So what? More than likely the cheap car will be a noisy fuel guzzling rattler with uncomfortable seats and no air conditioning – but it will still do the job.
Will a cheap bookkeeper save you money?
The question is, will your half price bookkeeper end up costing you more on the long run? “How can that possibly be?”
You may well ask:
1) They may be inexperienced, and take twice as long. So at half the rate but twice the time – what have you saved?
2) Your half price bookkeeper needs to work twice as quickly to earn the same income, and is more likely to make mistakes or not pay attention to detail.
3) Maybe your cheap bookkeeper is charging a low rate because they do not have the confidence
4) Will your new bookkeeper bother spending any time looking at the whole picture and maybe highlight problem areas in your bookwork?
5) If you are short of funds and cannot afford to pay for a good bookkeeper, the irony is that your business is more likely to need a good bookkeeper to help you keep a tighter control of your financial position.
6) Remember this: by the time your accountant gets to see your bookwork, the figures are probably 12 – 18 months out of date.
Good book keeping is essential for your business
A good bookkeeper is a crucial part of running an efficient and income producing business. Read about the benefits of good bookkeeping HERE
Is all the blood, sweat and tears that you are investing into your business worth sacrificing because you can fool yourself into believing you can get by with a cheap bookkeeper?

Next BAS due






1 response so far ↓
1 john smith // Nov 24, 2007 at 6:31 am
We found a bookkeeper who was charging $25 per hour and it ended up costing us a fortune. Seems she didn’t really know what she was doing and would do loads of journal entries to get everything to balance. In the end we had to get another bookkeeper to come in and fix up the mess
Cheapest does not mean most economic