Should I do my own books?

Perhaps the better question is, do you want to do your own books? If you do, then stop reading this blog post. If you don't, then listen carefully why you should NOT do your own books. It's a common mistake. When a bookkeeper with passion pays your bills, reconciles your accounts, we learn how you operate. We learn what's working and what isn't, and we usually see the problems before they happen.

Last week, I was at a conference and I met a consultant who goes to brick and mortar retail companies to help them fix and grow their business. When you are experienced, you can walk into a space and know exactly what's working and what isn't. She told me a story about a client who had moved their business down to Florida. Within 6 months, the client had written to say it was not going well, and she was probably going to have to close down. She had sent along a picture of her staff. The consultant quickly fired off an email - "I know exactly what your problem is - payroll!" I laughed with her, as I said - "This is exactly what I see when I look at the numbers on a financial statement - I know almost immediately where the issues are, and that informs me how to help my clients." For a bookkeeper/finance manager - the financial statement tells a story which I can then use to inform the client. 

So - should you do your own books?