Every business needs a bookkeeper ; that is, a designated person to be responsible for keeping business records up to date and for specific bookkeeping activities. That person might be an internal bookkeeper or a bookkeeping service. Who you select is based on several considerations:
- Your Expertise
If you have knowledge of bookkeeping and accounting, you may want to keep the records yourself.
- Business Size and Complexity
If your business is small with no employees, you may be able to keep the records yourself. When you have employees, or many products with inventory to keep track of, you may decide to have someone else perform this function.
- Products and Inventory
If you are selling many products, with inventory and cost of goods sold, you will probably want someone else to keep track of the business books.
