#41 Budgeting for Bookkeeping: How Much to Invest at Each Stage of your Business
Is your business growing, but you’re unsure what you should be doing with your numbers? Don’t worry – this episode has your back. Let’s talk budgeting for bookkeeping and how much you should invest at each stage of your business.
In this jam-packed episode, I take you through each of the stages of a business – planning, launch, growth and scaling – and exactly how much money you can expect to invest.
If you’re bootstrapping in the early, planning days of your business I outline the accounting software that’s perfect for you at this stage (and why you really should be budgeting for software at any stage of your business). I also explain the two simple bookkeeping options that are available – hourly or package – and which may be the best option for you, depending on your individual business needs.
When you reach launch mode you have more numbers for the number-loving bookkeeper to keep on top of for you. Now is the time to plan and budget for more complexity in your business, more volume, and the need for different or extra bookkeeping services (like payroll and BAS).
The growth stage is the point where most business owners hand their bookkeeping over to professionals. Again, the amount to invest depends on your business, but I explain why I recommend a monthly bookkeeping package at this stage.
Finally – in the final scaling up and expanding growth stage, I take you through why you should absolutely not be DIYing or paying by the hour when you reach this stage. I explain the strategic reasons why hiring a bookkeeper at this stage is so important to ensure you can remain laser-focused on the essential elements of your business.
This episode will help you grow and know exactly what you should be investing in, at whatever stage of business that you’re at. Dive in!
RESOURCES MENTIONED:
Digital Course: Bookkeeping Matters Blueprint
Engaging A Bookkeeper? Here Are 10 Questions You Should Ask
PREVIOUS EPISODES MENTIONED:
Ep 8 –8 Ways Accounting Software Saves You Time and Money
Ep 27 – Are You Wasting Your Money on the Wrong Accounting Software?
Ep 10 – Should you Outsource or DIY your Books
Ep 36 – Hiring a Bookkeeper? Here’s What You Need To Know
HELPFUL RESOURCES:
Sign up for the waitlist to Bookkeeping Matters Blueprint here
Join my Numbers List for small business news and fun, helpful tips here
Download the FREE New Biz Checklist here
Download the FREE P&L Generator here
Check out my blog here!
Connect with Lisa Turner:
Instagram: @accountedforyou
Website: https://accountedforyou.com.au/
