26 Mar

What Happens When Neglecting Your Bookkeeping

3 COMMON MISTAKES WHEN NEGLECTING YOUR BOOKKEEPING

For many small business owners, bookkeeping may not be at the top of their to-do list. It is known to be tedious, difficult to understand, and time consuming. Often, it is put off to the side and eventually piles up into an intimidating mess.

Here are some of the things that can happen if you neglect your bookkeeping:

1. YOU ACHIEVE ZERO CLARITY⁠

Neglecting your bookkeeping is like refusing to take a look at yourself in the mirror. You avoid it because you either hate it, are afraid to, or simply just don’t understand why you need to.⠀

Bookkeeping can give you those feelings as well. The more you neglect it, the more that you are letting yourself go! Therefore eventually, you’ll realise you have no idea how you got where you’re at and may start blaming yourself for not facing your fear in the first place!

I get it, bookkeeping is not your cup of tea, but by neglecting it, you are actually making it worse!

2. ANXIETY LEVELS GO UP⁠

I can only imagine how many of you are agreeing on this! Now, I am not saying bookkeeping is what should give you anxiety (okay, maybe for many it does). But neglecting your bookkeeping is sure to give you MORE anxiety!

This will always be at the back of your mind… it’s not done, don’t know how to do it, will do it later and etc….

When did you decide that bookkeeping was hard?

You are literally suppressing one of the most important things to you and your business to the very back of your mind! You’re not going to find a solution by burying the core problem.

3. A RUN IN WITH THE ATO

This, by far is one of the most important factors as to why you absolutely cannot neglect your bookkeeping. You DO NOT want to mess with this guy!

To conclude, yes, bookkeeping can be pretty challenging. It takes a unique skill set and a willingness to sweat over the small stuff – qualities many entrepreneurs may not have. For some, perhaps it’s just an issue of time. You may not have enough hours in your day to get to this “fun stuff”.

Are you currently struggling with your bookkeeping? Do any of the above apply to you? If so, stress no further! Don’t continue to neglect your bookkeeping — why not outsource it?

There’s absolutely nothing wrong with outsourcing tasks that you aren’t fitted for! In fact, if you can’t manage your own bookkeeping, I highly recommend that you get someone that’s qualified to help you out instead.

We can get your books in order. Schedule a call with me and see how I can help you! Book your complimentary 30mins call HERE

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