Doing Your Own Books Is Costing You — Bookkeeper vs Accountant vs CPA

You got it.

Exactly.

Okay.

And why would, why would a business owner? So I'm kind of asking this rhetorically, but why would I, as a business owner want to do my own books instead of paying somebody to do them for me? You know, it's like one of those things.

It's like, Of all the things I want to spend my money on, paying somebody to do my books isn't one of those first things that comes to mind,

right? Because it

doesn't help the bottom line in my brand new business owner or uneducated business owner mind.

So help me

dispel that myth.

So there's lots of avenues I could go down with that.

So yes, definitely.

Bookkeeping, accounting, tax preparation is all looked at as an expense, right? So if you were to say, I need to spend my money on this product because it's marketing and it's going to bring in leads, I have no problem spending that money.

But to spend the money on something like this, people are like, I don't need to do that right now.

I can do it myself.

Now, Dave, using you as a pilot, right? Why would I not want to just fly a plane myself?

instead of

just being a passenger right you got to kind of know what you're doing to be able to do it this is the same thing yes people can wing it no pun intended right but that doesn't mean you know what you're doing you don't you have to know that how to classify and categorize things a balance sheet asset liabilities equity pnl your income your expenses because here's the thing Yes, you can do it yourself.

But again, with my experience and many, many clients that I have helped over the years, as I've mentioned, pay me now or pay me later.

If you want to do it yourself, you do it yourself.

But you're going to pay me a premium later to clean up your disaster.

And it's way more expensive at an accountant's hourly rate than it is if you just either allow somebody to help you do it, like my coaching, or allowing somebody to just do it for you, outsource it, or bring in a bookkeeper if you want to pay a bookkeeper salary or whatnot, contract labor to do it.

At the end of the day, it's why I always try to capture new clients from inception, because I want them to be able to Let's get it from the start.

Let's capture all of your expenses.

Because at the end of the day, when you have good books, that helps you in so many ways.

So if you need a loan, if you need financials for anything in your business, if you need bonds, bonding, anything like that, you need to present balance sheet and P&L.