Should I Get Free Bookkeeping Help for Small Business?

No matter what the size of your business, you need bookkeeping. Whether you have questions about single or double entry, payroll, and even taxes – a bookkeeper is needed. This bookkeeper can be you, someone on staff, or a third party. There are those boasting “free” services. Below we will help you answer “Should I get free bookkeeping help for small business?”

1. Is There Free Bookkeeping Help for Small Business?

There are many free items for bookkeeping and bookkeepers available. These include tools, courses, books, and more. They are easy to find. It is harder to find a bookkeeper who is willing to give their services away for free. We highly recommend caution with those who do offer these types of services, as they can often be a scam.

Did you know? Currently, there are just over 1.7 million bookkeepers in all of the United States? Source: Career Explorer

2. The Bad Side of Free Bookkeeping Help for Small Business

On more than one occasion, these “bookkeepers” are on the lookout for your sensitive information. Your bank accounts, credit cards numbers, SSN/EIN, and other data that can help them open accounts under your name. Worst of all, you won’t even know this has been done until all the bills they run up come due. Peeling back the curtain often shows these bookkeepers aren’t even located in the United States and are practically impossible to prosecute. And this is just one of the accounting and bookkeeping scams you can fall prey to with “free bookkeeping.”

3. The Good Side of Free Bookkeeping Help for Small Business

The only time we’ve ever heard of legitimate free bookkeeping is on a trial basis. Even in these cases, it is essential you choose wisely. This means selecting someone with a history of successful bookkeeping services, satisfied clients, and a clean record. You also want to choose someone who offers the bookkeeping service you need such as:

Handling all incoming and outgoing expenses.
Accounts payable and receivable.
Payroll for full time, part time, and contract employees.
Management of financial statements and documents.
Ensuring all documentation is ready for tax time.

Did you know? Approximately 60% of small business owners don’t feel knowledgeable on the topic of accounting, with another 14% not feeling knowledgeable on the topic of bookkeeping? Source: DocuClipper

4. How to Choose the Right Bookkeeper for You

Those of you with a small business of one or who do it part time may be able to be your own bookkeeper. However, those of you who feel you have too much on your plate as is should consider selecting one. Many small business bookkeepers can do as much or as little as needed. As an added bonus, you will also have your documentation ready come tax time. Your bookkeeper may even be capable of filing your small business tax return.