So what IS so funny about bookkeeping??
Answer: not a whole lot but let’s see if we can’t come up with something….
First of all, most words with a double-k in it are hilarious.
Knickknack. Yakker. Trekker (or Trekkie, an identification with which I am proud to associate myself).
Secondly, bookkeepers are inherently comical as the word conjures up imagery of the classic bespectacled accountant hunched over their old-school wooden desk, pounding numbers into an adding machine and buried in a mountain of scattered papers. But that bookkeeper was from 1954. These days we have these boxes called computers and are no longer buried in paper but in floppy disks!!
But I digress.
In the real world, bookkeeping is a VERY serious matter. It’s the foundation of the structure that supports your business, from small, at-home side business to massive corporation. Without a strong bookkeeping function, the business owner leaves themselves open to a huge variety of risk, the most important of which is audit. Think about it this way – hiring a good bookkeeper (ummm….like me maybe???) has only 1 downside risk; the financial commitment!
For a small business, the cost can be very minimal. In general, think $100-$150/month for a small business with 30-40 transactions per month, depending on your needs. The upside of strong bookkeeping? Too many to count:
- Peace of mind that your business is being run correctly and that an audit (and the stress and cost that comes with it) is far less likely to occur.
- A strong reporting function so you know at all times where your business needs improvement, where you can cut costs and where you should be spending more.
I could go on but we both know that wouldn’t end well for either of us…plus, I know how excited you’ll be to hear the rest of the upside of bookkeeping during our first meeting!
So, in summary:
Bookkeeping = exciting + important + floppy disks + framework = awesome.
The Funny Accountant.
As always, if you have tax questions, need advice on your personal taxes, corporate taxes or anything else accounting or business related, please contact The Funny Accountant/President of MK & Associates at email@example.com
One thought on “Tax Tip Tuesdays – What’s So Funny About Bookkeeping??”
Thank you for providing information about the book keepng and this information is really very impressive. Thank you for sharing your wonderful thoughts with us.