The main benefit to hiring a bookkeeper is that it frees you up to concentrate on your business. So many business owners are looking at their computer more often than looking at their “front end”.

Bookkeepers can take care of your payroll, benefits administration, all your monthly transactions, pay bills and anything relating to your ongoing financial tasks. How often depends on how many transactions you have, but normally you would use them monthly, if not weekly. Most work remotely and will meet with you once or twice a month based on your needs.

There are many great bookkeepers out there. You can usually start with a contractor, and as you grow eventually bring someone in house. Meet with at least two and ask how they would manage your books and assure you have a good relationship with them. It is important for you to still be on top of key items such as cash balances and expenditures vs budget, which they can provide to you regularly. Just find a system that works.

Bookkeepers and CPA are not the same. Bookkeepers focus on daily/weekly/monthly tasks, providing information but not opinions. A CPA has a higher level of expertise, having completed additional certifications. They provide advice and other analysis, including certified year end financial statement preparation, tax returns and dealing with the IRS.