Financial chit chat with Lozelle Mathai.

Should I hire an in-house bookkeeper?

Question:

I am the owner of a growing media firm with ten employees. We gross about 2.5 million a year. We are currently outsourcing our bookkeeping; however, I am seriously thinking about bringing the bookkeeping in-house due to our rapid revenue growth. Is this a good idea? Any help or ideas that you may have would be appreciated.

Response:

It is not unusual for a growing company with ten or more employees to have an in-house bookkeeper,
especially if you have a high volume of financial transactions. Your business is growing, why shouldn’t
your accounting department. Financial demands will increase, and you may want this data frequently.
With the help of modern technology, data entry is minimal; therefore, your in-house bookkeeper can
fully concentrate on the day-to-day financial activities and assist with tasks that are not bookkeeping
related around the office. You and your in-house bookkeeper can develop a process that benefits the
company while satisfying your needs.

If you are worried about cost:

Your bookkeeper doesn’t have to work every day; he/she can work 3-4 days a week or 4-5 hours a day.
The intention is that he/she is in-house, able to answer questions as they come up and grow with your
company.

If you have any additional questions, please do not hesitate to reach out.

Stay#dangerouslyinlovewithyourfinances

Until next time.
Lozelle Mathai, MBA