Have you ever considered the true cost of a cheap bookkeeper? Everyone likes a bargain, and everyone likes to save on their bookkeeping fees.

The obvious way to achieve this is by hiring a cheap bookkeeper. Right?

Wrong. We’ve talked about the benefits of engaging a cheap bookkeeper and does a a cheap bookkeeping service save you money?

Unfortunately some business owners continue to fail to heed the warnings, believing that they can save a few dollars on their bookkeeping fees

We’ve just been contacted by a Gold Coast business after finding their current bookkeeper has managed to get their accounts into such a mess that she got stressed out and would not answer emails or telephone calls

Suddenly the “cheap” bookkeeper has just cost the client extra fees.

She had copied the client’s data file and then decided to upgrade it from MYOB 15 to MYOB 18.5 without first consulting the client. The consequence of this decision was that the client is now faced with an unnecessary expense of having to purchase the MYOB v18.5 upgrade.

Suddenly the “cheap” bookkeeper has just cost the client extra fees. If that client had come to us originally we would have happily continued to work on their file using our MYOB v 15 software, even though we have other clients using MYOB v18.5 software.

Not all cheap bookkeepers are lousy bookkeepers – there are some who do not charge accordingly for their services. However, you need to consider the true value of your business and ponder about the economics of saving a few dollars on bookkeeping fees.

If you have a cheap bookkeeper who is very good, then you need to considering increasing their hourly rates, and see what a difference it will make to your business.