There. I said it. I have someone to do my accounting. Even though I am more qualified than most to do it myself.
It feels like a dirty secret, but it’s one of the best decisions I ever made.
And here’s why. I don’t get paid to do accounting. I get paid to do YOUR accounting. Not my own.
Any time I spend doing my own accounting is time I’m not spending growing my business – and that is counter productive.
My job is to be client-facing, not to be sitting at my desk doing accounting – even though it is my first love (don’t tell my wife).
Now, this most certainly does not mean my accounting is neglected or that I don’t know what is going on in my business. – it’s not and I do.
What it does mean is that I have a strict process of what I do and how I do it in Xero so that someone else can look at it and do the recons and prepare management reports without having to ask me questions.
There is no question that Xero has made accounting easier for the average person – made it more possible to do the basics yourself.
Yet just because we can, does not mean we should – I am a CA. I am significantly more qualified to do my own accounting than the majority.
And I don’t do my own accounting because it is not an efficient use of my time. If I’m not doing my own accounting, then why are you?
Your business needs you to be focussed on growth. Not sitting at a desk fighting with numbers.
A solid process and an outsourced accountant with detailed knowledge of Xero and the app marketplace is a perfect way to make that happen.