There comes a time for any business, no matter what the size, that it's time to replace or eliminate an employee's position. This article is written for the business owner who has a bookkeeper and has given some thought to this topic. As business owners, we need to make tough decisions all the time. Perhaps, one of the hardest decision involves eliminating or reducing the hours of an employee. Lets face it, nobody likes to terminate an employee, especially in this economic environment. We all know, that its important to care about other people, so this type of decision is special and often is hard to make. Sometimes your perception of the problem is blocked by your feelings for the employee. So instead of making a decision, your perception creates a series of thoughts about the problem that results in no decision. This is article is written to help you realize that it's time to make a decision.
Most small business owners do not have anyone to consult with, so the decision to terminate an employee may be hard to make. Also, other business priorities may be preventing you from giving the requisite time to analyze this problem. Below are 10 reasons to assist you in making that decision, or to reinforce your decision to change your bookkeeper. If you are able identify with a couple of these reasons, or just one, and you are of the opinion that the problem cannot be corrected, then it may be time to terminate your bookkeeper or reduce their working hours.
1. Financial information is always received late and when received, it has mistakes.
2. You or someone in your family are financially and computer savvy and have the time to do the bookkeeping.
3. You need to replace the income of your wife, your parents, your in-law(s) or other family members.
4. You are too dependent on the bookkeeper and your bookkeeping doesn't seem as complex as they make it out to be.
5. You have discussed this problem with the employee, it can't be fixed and you have made every effort to be fair and equitable.
6. You don't understand what the bookkeeper is saying.
7. Your bookkeeper doesn't answer your questions to your satisfaction.
8. Your bookkeeper seems to have a lot of extra time and doesn't seem to be able to distinguish between urgent matters and priorities.
9. Net profits are shrinking and you think you have too many people employed.
10. Other people have mentioned that's its time to terminate your bookkeeper or reduce the bookkeeping hours.
Remember,any one of above-mentioned indicators may provide the necessary impetus to internalize the bookkeeping within the family, assuming the replacement person is computer literate and/or is willing to become financially literate. Like any other accounting related decision, ask your CPA or accountant for their input.
About the Author:
Learn how QuickBooks Online offers the essential online accounting tools to manage your business and the freedom to access your financial information from work, home, or when traveling. Sandor Lenner, C.P.A. - M.B.A has been providing accounting services for 35 years. He is also a Certified QuickBooks ProAdvisor and offers QuickBooks online support for a Miami Accounting CPA firm.
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