3 Ways To Know You’re Ready To Hire An Accountant (Even If You Don’t Feel Ready)

Are you trying to manage your books on your own without much success? Find out the top 3 signs you’re ready to hire an accountant (whether you feel ready or not)!

Is it time for you to hire an accountant? How do you know when the time is right to stop DIY accounting and hire a professional? You might be getting close to the point where you can’t quite manage everything on your own anymore, but you’re not sure if you’re ready to hire an accountant or bookkeeper.

It’s a tricky spot to be. Managing everything in your business can be a chore, especially if you’re a solopreneur who is handling EVERYTHING alone, from the books to the content creation to actually serving your clients.

How do you know when it’s time for support in the accounting department (when up until now you’ve been the accounting department)?

Don’t let fear stop you from getting help. You don’t have to take on tasks that aren’t in your skillset and end up barely muddling through. I’ll share the top 3 signs that you’re to hire an accountant, whether you feel ready or not.

Here are my top 3 ways to know you’re ready to hire an accountant:

Sign #1: You’ve put off your bookkeeping until you make “more money.”

No matter what your income status is, keeping records is essential. Even if your business currently operates at a loss, you need to keep track of your money activity NOW. Here’s why…

Even if you’ve been in the red in previous years, you want to capture that loss and carry it forward into your more lucrative years. Ignoring your profitability and drilling down into the business will only make it grow more slowly.

Another reason to know your numbers: making little or no money does not exempt you from things like filing your Annual Report, 1099s (find out more about the 1099 rules HERE) & More.

So no matter what, be sure you’re tracking both your income AND your expenses.

Sign #2: You’re not a Professionally trained bookkeeper with an Accounting team to ensure your accuracy.

A lot of us take on the bookkeeping tasks thinking that it’s going to be a lot easier than it is. Maybe you even took a semester of bookkeeping in college and feel like you know enough to DIY it for a while.

Well, maybe, and maybe not!

First, it’s impressive that you’re taking responsibility for your bookkeeping, so congrats to you for taking it on! But doing it all yourself might end up costing you in the long run.

One thing I’ve learned after 15 plus years of experience is that accounting is a LOT more involved than it seems. Bookkeeping is one tiny layer in a sophisticated culture. It’s a language unto itself that takes years to master, and even at that, it’s continuously evolving.

Congress changes the rules all the time. There’s a lot to keep up with, and this alone can turn into a full-time job.

It’s crucial to get a second opinion on your books regularly, especially if you only have time to update them a few times a year. It’s the month-to-month updates and attention that matters the most!

Sign #3: You’re afraid to make more money because you don’t know how to manage it.

As crazy as that sounds, I bet you know what I’m talking about. It’s that moment when you sabotage yourself from making too much money because of the “consequences.” What kind of consequences, you might ask?

I mean “consequences” like making too much taxable income and owing more at the end of the year. How will you manage that money and avoid getting gouged by the IRS when you haven’t found a trusted bookkeeper yet?

But having a reliable bookkeeper or accountant on your side will set you up for the next step. You’ll have someone in your corner to keep an eye on your books and help you safely and securely make as much money as you desire.

Here, I explain the 3 signs PLUS the crucial mindset shift that makes it possible to get the financial support you need ⬇️⬇️⬇️

So if any of these signs sound like you, don’t struggle on your own anymore. Find out how you can get the bookkeeping support you need, starting today. If you have any questions on how to take the next steps, leave them in the comments below!

Until Next Time,

Love, Light, and MONEY, Honey…

Kaylee

P.S. If it’s time for you to go from the “everything entrepreneur” to the CEO of your business, I have some exciting news for you!

My Finance 101 course is just ticket if you’re ready to delegate but don’t know where to start. If you’re ready to take charge of your finances, let’s get started! Learn all about Finance 101 HERE ⬇️⬇️⬇️