Why should a company or individual hire a bookkeeper? If you ask an owner of an organization or an individual why they hired a bookkeeper, the answers will naturally vary. However, the answer is usually some derivative of knowledge and time. I know that usually people say time and money is the reasons given for most decisions in regard to business or finances, but money doesn’t play as much of a factor in hiring a bookkeeper. Most bookkeepers charge similar rates based upon the geographic region for which they are located. Therefore, the reasoning is usually based upon knowledge and time.
Accounting is not something that is easily understood. There are many guidelines used in accounting provided from Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB). Accounting is a field that takes years of study and practice. In fact, most people may not realize that in order to qualify to sit for the CPA exam in most states, you must have a set number of hours worked under a licensed CPA. Sometimes, this can be substituted for education. For instance,