I am no accountant. In fact, until about a year ago, when I finally created a check registry on Excel, I would rarely record purchases and transactions. My method of book keeping would be occasionally checking my bank account online. Well after several overdraft charges, I decided it was time to start recording my transactions. As I mentioned, I am not the most qualified person to run my accounting department.
I manage a lot of properties for mortgage companies. Part of my job is paying for services like utilities, recurring lawn maintenance, trash-outs, re-keys, etc. At any given time, I could have upwards of $10,000 of my own money floating around out there. I would pay for the service and then submit the invoice for reimbursement. The problem was in my disorganization. I lost a lot of money due to invoices not being submitted right or on time.
With the help of Carter Smith from my Dream Team (see Supporting Cast post at www.nickbusinessjournal.com) I finally decided to hire an accountant to handle my invoicing and billing. We are still in Beta testing phase but I feel confident that this is going to be a huge game changer for me.
This is going to allow me to focus more on what I am good at (selling) and take the burden of what I am not good at off my hands. It may or may not save me much money, but at a minimum it is going to allow me more time with my family. And that is most important to me.
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