I never wanted to be a bookkeeper. I really like having my own trucking business. This way I have a great boss. Me. I can find the work. I can do the work. But I never wanted to be a bookkeeper. Never.
There are so many things as a small business owner that I need to focus on. Sales, customer service, maintenance, orders, it’s all my job. If there is one thing that I will procrastinate about, it will be the books.
Getting a Grip on The Bookkeeping
I’ve always had a balanced checkbook personally. I’ve always been good enough with money. So I thought, anyway. I figured that invoices and collecting money from people couldn’t be all that tough, so I didn’t worry about it much. I just started my business and day by day I made invoices and collected money.
After a while, my business started doing better and I had more work, and therefore more invoices and more paperwork. Permits and Federal Employer Identification Numbers plus all the normal paperwork stuff had my head reeling.
I knew that one mistake could mean tax troubles, or bank troubles or, well, I didn’t really know what else but I knew I didn’t want to find out. I felt I needed the help of a trucking authority to get a grip on the bookkeeping for my business.
Dry Spells and Getting Paid
Soon enough I found that my customers didn’t necessarily pay when I thought they were going to. Sometimes that was great, because they paid early or a bunch paid at once. Other times, more often than not, I was left with my own bills to pay and my customers were not paying me, yet at least. I knew they would, eventually.
When you have a trucking company and you haul the freight across the country and have to pay for all the fuel, but the customer doesn’t have to pay you for 30 days after the load is delivered. You put the money out to do the work, but you have to wait for your earnings to come back.
A dry spell is one thing, but I still needed to work. I needed the cash from the last job to do the next one.
So I did some homework. I read an article in Forbes about finding working capital. It taught me about factoring invoices, which helped a lot. It made it so that I could level out the money I was getting so it was more like being on salary, getting money regularly and reliably.
Soon enough I started outsourcing my regular day to day bookkeeping, too. It freed me up to do the work I need to do to keep things running around here. Let them have the headaches. Amazingly, they are better at it than I am, too! (Okay, not so amazing.) My company is growing faster because I can spend more time and attention working on it and not trying to do the books, in my not-so-spare time.
Worth the Money
I was worried about the cost at the beginning, but it didn’t take long for me to realize that I can make more working than it costs me. That doesn’t even consider the headaches and procrastination and possibility of making a mistake parts.
I have found that having the bookkeeping service do my books has given me far more information than I had imagined, too. They can tell me how well the company is doing, if my expenses get out of line, and about tax deductions I can use, for example. I would never have paid attention to that if I was doing it myself.
I am glad to have my bookkeeping service take care of all of that. I am happy to be able to factor invoices as I need to in order to keep my bills paid, too. This way I have a stress free job, and I still have a great boss.