How Much Does a Bookkeeper Cost Dubai?
Why do many small business owners avoid hiring a bookkeeper or bookkeeping services firm? They think it cost too much! How much does a bookkeeper cost Dubai?
However, doing bookkeeping on your own may prove more costlier to you. Many owners have found it so. You ask any experienced owner.
What You Are Missing While Updating Your Books
If you think you are saving a few bucks by updating books on your own, then you are wrong. It is not free. There is a cost involved. It is called the cost of opportunity.
Hire Outsourced Bookkeeping Services
Instead of wasting 4 hours/month on bookkeeping, say, you go out and talk to 10 prospects. Only one converts and agrees to pay you 'X' dollars.
Now, find out what you must pay an outsourced bookkeeping services firm to do your monthly bookkeeping. If it is only 10% of 'X', then it makes sense to outsource your task.
And you have not considered the cost of using the latest accounting software to do your taxes.
Indirect Cost of Doing Your Books On Your Own
See what you are not getting to do when you are bookkeeping.
While you are busy updating books, it means you are not getting to:
- Meet and convince your customers
- Do market research
- Know what value-additions customers need
- Come up with ideas to fulfil their needs
- Create a new marketing plan
All these things affect your ROI. And you are thinking about a few dollars.
Bookkeeping Services are Affordable
Yes, hiring a bookkeeping services firm minimises your manual efforts and saves you money. Let us see.
Accurate Tax Amount
An expert bookkeeper knows how to maintain your paper records. They also use accounting software to digitise your expenses and earnings data.
They use accurate data to calculate your tax amount to the last decimal when it is tax time. They are also well-versed with the tax deductions they can make on your behalf.
Do It Yourself Bookkeeping Can Land You in Problem
If you work hard to get customers, there is little time to do the books yourself. If you do, it may be something other than regular.
The chances are high that you may miss including all your transactions in the final account. Or you may not have the documentation to back all of them. The result is inaccurate filing.
You may get fined or penalised. However, it does not happen to you with a bookkeeping services firm to support you.
Reduce Stress and Anxiety
Hiring an outsourced bookkeeping services firm helps reduce your stress. Their expert bookkeepers have updated knowledge about rules and accounting. They apply it to update your books flawlessly.
They process your data and send the outputs promptly. It means your statutory filings are within the deadlines. These factors combine to reduce stress and anxiety related to updating books and accurate annual filing.
You have three options for bookkeeping. Firstly, you can do the books on your own. Secondly, you can hire an in-house bookkeeper. Or you can take the most effective option to ensure compliance with the statutory regulations. Engage the best bookkeeping services firm for the task.