Let me tell you about my Grandma Virginia.
Grandma Virginia had a system that would make most of us look unorganized and unprepared. Each year, she would pre-plan for the coming year. The minute Christmas was over, she set out to dominate the retail market. She planned early for gifts needed for upcoming birthdays, holidays, and special events, and by the end of March, she had everything she needed.
Not only was the shopping done, but it was well organized in a closet that we were never allowed in (for obvious reasons). And it didn’t stop there. She owned and ran a bar, was deeply involved in her church, and provided caregiving to a beloved family member. She made all of this look easy. Her system allowed her to be prepared for anything and everything without the last-minute rushed panic dark cloud that most of us have experienced. Sometimes the apple doesn’t always fall from the tree. My sister inherited this gift from Grandma Virginia. She too, like Grandma Virginia, has everything she needs at all times. Every gift, every plan for any event, a list of things to go over with me…. This is truly a spectacular gift, albeit, sometimes annoying. I believe it skips generations and siblings, and just about all of humanity. We should all be so lucky to have been born into a mindset like this. But we can all learn to be planners.
“Rushed panic.” Does that ring a bell? I might even dare to say that most of us live as if pre-planning was a taboo, something to be avoided at all costs. But non-planning doesn’t mean that if it’s ignored, it will magically get done for you. We don’t live in a box of Lucky Charms. My kids used to think homework worked that way too. They learned the hard way that homework doesn’t magically get done either. Just like Grandma Virginia’s early planning kept life running smoothly, pre-planning with a bookkeeper keeps your business finances from turning into a year-end scramble.
Let’s state this another way: life is stressful, and no one likes to be bogged down with categorizing expenses and going through boxes of receipts when you’d rather be outside enjoying what little daylight is left after work. That’s what hiring a good bookkeeper is for.
Bookkeepers get most of their calls from clients referred by their CPAs between September and December. But here’s the thing… The last quarter of the year is the worst time to make that call.
Why? Let me enlighten you some.
When the world is focused on Halloween costumes, 14-pound turkeys, and holiday parties, bookkeepers are focused on one thing only: year-end.
They’re making sure accounts aren’t missing any out-of-pocket expenses paid with personal funds, tracking down statements, reconciling, managing priority schedules, filing year-end documents with State/IRS deadlines, and preparing financial packets to deliver to CPAs for tax filing. It’s an incredibly busy time. And if you wait until then, chances are you’ll hear a lot of “No’s,” or you’ll be placed on a waiting list until after April 15. That kind of delay equals stress you could have avoided.
Here’s what the first part of the year looks like for bookkeepers:
• January: 4th-quarter payroll reports, 1099s, and W-2s filed by January 31.
• February: Non-Profits, Partnerships, Corporations, and S-corps need year-end financial packets finalized and submitted to CPAs. Tax deadline: March 15.
• March: LLCs and Sole Proprietors’ need year-end financial packets finalized and submitted to CPAs. Tax deadline: April 15.
Bookkeepers don’t get a break until after April 15. Then, they finally bandage paper cuts, update eyeglass prescriptions, schedule chiropractic appointments, and indulge in well-deserved massages. Only then do they sit down with a Starbucks and binge-watch the four months of TV they missed.
By May, it’s back to regular client work and pre-planning for the next year-end. Bookkeepers are always evolving to improve processes and better serve their clients.
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The CPA vs. Bookkeeper Dilemma
Some people think, “I’ll just have my CPA do the bookkeeping.” They call it “one-stop shopping.” Oh boy. Let’s break this down.
Sure, it sounds convenient… one firm, one bill. But here’s the truth: it will cost you a fortune.
• Bookkeepers keep your records organized and accurate all year.
• CPAs shine when it’s time to strategize, plan taxes, and keep you out of IRS jail.
You don’t want your CPA spending hours categorizing Starbucks receipts when they could be saving you thousands on tax strategy. And remember: CPAs charge more than bookkeepers.
So yes, bookkeeping can feel like it gets “magically done for you” but only if you act early.
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How to Choose the Right Bookkeeper
1. Start early in the year. Don’t wait until fall.
2. Ask for referrals. Talk to other trusted small businesses.
3. Check online reviews.
4. Interview. Ask questions to be sure they’re qualified for your type of business.
5. Don’t shop by price alone. Remember: you get what you pay for.
Give yourself the gift of peace, knowing your books are handled by a firm that has your best interest in mind.
Start early, skip the stress. Grandma Virginia would be proud of you!
At LEOZIE Bookkeeping LLC, we help clients live more like Grandma Virginia, prepared, confident, and stress-free. Don’t wait for year-end stress to pile up. Schedule your consultation today and give yourself the gift of peace.