Should you let your cousin do your bookkeeping?
One of the nice things about being in business is that you can hire your cousin when he needs a job. Your relative gets a career. You get a dedicated employee who you’ve known your whole lifetime. Your auntie and uncle will think of you as their favorite nephew. It’s a Win-Win for everyone.
Hiring your cousin is an easy decision. He isn’t just a relative. He’s more like your best friend. You grew up together. Also, you shared holidays, summer outings and family events. Undoubtedly, you trust him with your money and your life. So, of course, you trust him to handle important business tasks, like bookkeeping. Besides, you don’t have to pay him as much as you’d pay a professional bookkeeper.
So… is your cousin a bookkeeper?
Before you get too enthusiastic about onboarding your cousin, step back and think about it for just a minute. Better still; ask yourself a few critical questions.
- Does your cousin have bookkeeping expertise?
- Is he willing to put the hours in to get the job done?
- Is he efficient and detail-oriented?
- When was the last time you saw your cousin, anyway?
- What’s he been doing for the past decade or so?
- Can you ignore his mistakes while he learns bookkeeping on the job?
If you answered “No,” Who knows!” or “I really don’t know” to any of the above questions, perhaps it’s time to back away from the idea and head in a different direction.
Your cousin probably isn’t the right person for the job
Unless your cousin has natural bookkeeping expertise, he probably can’t do what you need him to do. He’s not the right person for the job. As a matter of fact, neither are you.
If you’ve been doing your own bookkeeping, it’s probably because you wanted to save cash. You’ve likely done many other tasks that kept you in your office long after closing time. If your business is growing and moving forward, that’s a big reason to step aside and let someone else (not your cousin) fill the role as your business bookkeeper.
- Give the job to a professional with bookkeeping expertise.
- You’ll run your business with confidence knowing that a professional is handling one of your most important back-office tasks.
- You can go home early, eat dinner, and go to bed before midnight.
- You’d get a jump on tax preparation.
- You can let someone else worry about paying your suppliers on time because sometimes you forget.
Let us do it
At Good Bookkeeping and Consulting, we understand how important it is to keep your business numbers on track. We’re professionals and we do it better than you or your cousin.
We understand that your financial records are the life force of your business. Your accounts receivables and payables get documented. We’ll track your cash as it flows in and out of your business. As your bookkeeper, we keep your records in order and up to date. Your information is ready and available when you need to apply for a loan, show your profits, or file your business taxes. That’s what we do and we’re good at it.
Contact Goode Bookkeeping & Consulting
To learn more about our bookkeeping expertise and consulting services, call us at 860-659-6543 or complete our consultation form. We’ll get back to you right away.