Fellow Business-Owners. Let me remind you of something. YOU are still the owner.
Why do I say this? Well, being a bookkeeper I get to work with lots of small businesses whose goal is to hire someone and completely forget about their bookkeeping. Now, my clients really are the best and they are responsible and want what’s best for their business. But sometimes, I still have to remind them that I am not the one ultimately responsible for their bookkeeping, they are!
The number one way that small business owners can keep a pulse on their business, even if they’ve outsourced their bookkeeping is this, check the bank account every day. Just a glance, it doesn’t have to take more than 5 minutes. Log in, check the balance, look at the transactions, see if you recognize everything, and always question things that you don’t recognize or authorize.
Don’t be intimidated to not know an answer. Ask it different ways until you do understand. Always, always, always verify that the taxes are paid on time.
Hire someone to do the detailed work if that’s not your strength, but don’t forget to do your best to understand the big picture and make decisions to move your business forward based on that information.
You’ve got this!