Bookkeeping and payroll services for Mid-Missouri's small businesses.

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Can a small business do their own bookkeeping?

Yes, many small businesses handle their own bookkeeping. Whether it makes sense for yours depends on how complex your transactions are, how much time you can dedicate to it, and whether you’re willing to learn the fundamentals.

The basics aren’t complicated. Record income when it comes in, categorize expenses correctly, reconcile bank accounts monthly, and keep documentation for everything. QuickBooks Online or similar software handles most of the math once it’s set up properly.

Where DIY bookkeeping usually breaks down is time, knowledge, and opportunity cost. What seems like “just 30 minutes a week” often becomes hours during busy periods. Then you skip a week, then a month, and suddenly you’re three months behind with a mess to untangle. Knowledge gaps around sales tax, payroll, depreciation, and cost of goods sold add complexity. Getting these wrong creates problems at tax time or during an audit. And every hour spent categorizing transactions is an hour not spent on the work that actually generates revenue.

The businesses that succeed with DIY bookkeeping usually share a few traits. They have relatively simple operations with few employees and no inventory. The owner genuinely doesn’t mind the work. There’s consistent weekly discipline to stay current. And there’s willingness to learn and ask questions when uncertain.

The businesses that struggle are often too complex for casual bookkeeping but not quite big enough to feel like they “need” help. Construction companies with job costing, retail with inventory, businesses with multiple revenue streams. These require more sophisticated tracking than basic QuickBooks knowledge provides.

If you’re going to do it yourself, invest time upfront in learning proper setup. A chart of accounts designed for your industry. Categories that match what you need to see on reports. Reconciliation habits that catch errors early. The work done in the first month determines whether the system serves you or creates ongoing headaches.

Many business owners start doing their own books and eventually reach a point where monthly bookkeeping support makes sense. Sometimes it’s growth. Sometimes it’s complexity. Sometimes it’s just realizing that their time is worth more than the cost of having someone else handle it. A Mid-Missouri bookkeeper can help evaluate whether your situation calls for that transition.

There’s no shame in either approach. Some owners enjoy keeping their hands on the numbers and do it well for years. Others try it, hate it, and hire help immediately. What doesn’t work is the middle ground where you technically do the books but they’re always behind, frequently wrong, and create tax-time chaos every spring.

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More Questions

Does your accountant need all your receipts?

Yes, your accountant needs receipts, though the IRS only requires them for expenses over $75. The real value is that receipts provide context that bank statements can't, making your books more accurate and your deductions defensible.

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How many hours a week is bookkeeping for a small business?

Most small businesses need 2 to 5 hours of bookkeeping per week. That number shifts based on transaction volume, whether you have employees, and how consistently the work gets done.

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How long is it reasonable to wait for an invoice to be paid?

Net 30 is standard for most businesses, but what's reasonable depends on the terms you set. Following up within a week of the due date and escalating from there helps catch slow payers before they become bad debt.

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What is job costing for construction companies?

Job costing tracks every expense against a specific project so you know whether that project made money or lost money. Instead of lumping costs into general categories, you assign labor, materials, and subcontractor invoices to individual jobs.

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What is the rule of thumb for construction costs?

Labor typically runs 25 to 35 percent of project cost, materials 40 to 50 percent, and net profit should land between 5 and 10 percent. These benchmarks only work if you track actual costs by job and compare them to your estimates.

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What can a CPA do that a bookkeeper can't?

CPAs can represent you before the IRS during audits, sign off on audited financial statements, and provide attestation services. These are licensed activities that bookkeepers cannot legally perform.

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Full-charge bookkeeping for Mid-Missouri's small businesses. We serve owners from the Lake to Jeff City and Columbia who need their numbers to be as reliable as their work. Local, certified, efficient, and precise.

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