A Profitable Partnership: 5 Benefits of a Bookkeeper for Your Boutique

A Profitable Partnership: 5 Benefits of a Bookkeeper for Your Boutique

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Let’s be real – you didn’t start your boutique to become a numbers person. You’re passionate about style & fashion, helping people look and feel their best, and creating a unique shopping experience.

 

But here’s the catch – the financial side of things can’t be ignored, and it can quickly become overwhelming and confusing.

 

Tracking sales, managing inventory, dealing with taxes – it’s a lot to handle, especially when you’d rather be doing ANYTHING but that. If you’ve been managing your own bookkeeping from the start and it’s starting to become a little “too much”, then it might be time to consider what the benefits of a bookkeeper can do for you.

Not ONLY will you be able to have more time in your day to focus on more enjoyable tasks (I know bookkeeping isn’t your favorite), but there are a number of other benefits that will come along with it!

 

Imagine having someone on your team who not only understands the language of numbers but also loves it! That’s what a good bookkeeper brings to the table. They take care of all the financial nitty-gritty so you can focus on what you do best.

 

Confidence in Your Numbers

 

Be honest with me for a second…have you ever been working on your bookkeeping and thought “well, I’m not sure if this is right but it’s close enough”?

Listen, I’m a firm believer that sometimes “done” is better than “perfect”. But one exception to this mantra is in your bookkeeping.

“Close enough” isn’t going to protect you if you ever get audited. It’s not enough to help prevent you from overpaying in taxes because you missed deductions you could claim.

I want you to feel the confidence that comes with knowing your numbers are 100% accurate. 

 

Financial Clarity

Not only will you be able to feel confident that your bookkeeping is accurate, but you will actually understand what the numbers mean! A good bookkeeper will prepare financial reports for you & help you have a good understanding of where all your money is going.

This allows you to view everything from more of a birds eye view instead of being bogged down in all the day to day details.

A good bookkeeper can also use these reports to help you answer questions such as how much you should be saving for taxes, can you afford to hire another staff member, or how much you can be paying yourself. 

Profit Maximization

 With a bookkeeper’s keen eye on your finances, you can identify areas for financial improvement so you can maximize your profits.

A good bookkeeper can help you dig into those financial reports so, together, you can determine if there’s areas you can focus on to increase your profitability. 

Tax-Time Bliss

 Tax season can be a headache, but not when you have a bookkeeper by your side. They ensure everything is in order, making tax preparation a breeze.

A good bookkeeper will make sure that every single penny is accounted for in your business so no tax deductions slip through the cracks, helping you get the lowest tax bill possible. Some may even be willing to communicate directly to your tax preparer (with your permission of course) any notes or answer questions so you don’t have to play the middle-man. 

How to Find Your Financial Sidekick

Now that you’re convinced about the wonders of partnering with a bookkeeper, how do you find the perfect match?

Well, I recommend looking for someone with experience in the retail or e-commerce industries. There are some unique complexities in this space that make it more challenging that many bookkeepers don’t have experience with.

But, consider interviewing a couple potential bookkeepers to find someone who not only understands your business but that you feel comfortable with! You’ll be chatting with this person semi-frequently about the intimate details of your finances, so find someone you ENJOY talking to! 

I am currently accepting clients and would love to chat to see if we would be a good fit! You can book a coffee chat consultation here!

So, boutique owners, I hope you take this message to heart & consider what hiring a bookkeeper can do for you and your business! Embrace the support of a bookkeeper & experience the confidence that comes with knowing it’s all being taken care of for you, while you take care of your customers.

Here’s to finding your own version of freedom, 

Hi, I'm Megan!

Bookkeeping for the retail industry has some unique complexities that take extra time to manage to ensure accuracy. At Finding Freedom Financial Services, I provide done-for-you bookkeeping services for boutique owners that accurately track these complexities for you so you can have more time and focused energy to dedicate to running your stores. If you’re ready to get your time back, apply to work with me today!

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