The Pros and Cons of DIY Bookkeeping: What’s Best for You?

As a retail boutique owner, you’re juggling a lot—inventory, customer service, marketing, and the daily hustle of running your shop. One big decision you’ll face is whether to handle your own bookkeeping or hire a professional. Let’s break down the pros and cons of DIY bookkeeping to help you make the best choice for your business.

The Pros of DIY Bookkeeping

You Save Money

Let’s not beat around the bush. Hiring a good bookkeeper is an investment. And if you’re trying to run a business on a tight budget, you may not want to spend that kind of money for something that you CAN do yourself. 

You Know Your Numbers

When you do your own bookkeeping, you are going to be looking at every single transaction in your business. You’ll see all your recurring expenses, and it will help keep you be in tune with where all your money is going every month.

Quicker Financials

When you’re the one doing your own bookkeeping, then you never have to wait on a bookkeeper to provide you with your financial statements. Often times, you’ll be waiting at LEAST a week for a bookkeeper to get you any financial information from the prior month. If you’re keeping on top of your bookkeeping each week, then you can be reviewing your prior month financial reports as early as the 1st or 2nd of the following month!

It’s a Great Skill to Have

Learning how to REALLY understand the finances of your business is a skill that will help you run a better business. Being involved in the day to day bookkeeping will help you understand them even faster. 

The Cons of DIY Bookkeeping

It Takes Time

As a boutique owner, I know you’re already juggling a million different things, and your time is VERY precious. There’s no doubt that doing your own bookkeeping is going to take even more of your time. Quite frankly, your time may be better spent on tasks like growing your business or spending time with your customers. 

Mistakes Can Be Costly

If you don’t have the proper training and education to manage your own bookkeeping, it’s possible (and quite likely) that you could make a mess of your bookkeeping. Messy bookkeeping leads to inaccurate financial reports, which could lead to missed deductions & paying higher taxes than you need to.

It Can Be Stressful

If you’re already feeling stretched too thin, adding one more thing to your to-do list can cause additional stress & anxiety. If you don’t make your bookkeeping a priority, it’s easy to push it down your to-do list and let it pile up on you. If you let it pile up too much, it becomes a project that you avoid and dread even more. 

You Might Miss Out on Expert Advice

It always helps to have a second set of eyes and someone else to help bounce ideas off of. It can also help to get an objective outsiders opinion to help you clearly see the numbers without getting emotions involved. 

So What’s Best For You?

Doing your own bookkeeping is COMPLETELY possible for you if you have the time and discipline to keep everything up-to-date. As I stated earlier, just be sure you don’t try to jump in and learn as you go, as that will likely lead to mistakes. Before you begin, invest in a little training or education to help you do everything accurately. If you don’t even know where to begin, start with my free masterclass, and my free chart of accounts template. These have been my post popular free resources to help boutique owners just like YOU feel comfortable managing their own bookkeeping.

BUT if you’re feeling overwhelmed or want to ensure your finances are handled correctly, without taking the time to learn & follow through with it all, then hiring a professional might be the best choice for you. 

At the end of the day, your focus should be on what you do best—running your boutique. If bookkeeping feels like a chore that’s causing you more anxiety than it’s worth, don’t hesitate to get help. You deserve to have peace of mind, knowing your bookkeeping is in good hands. If you want to learn more about what it’s like to work with us as your professional bookkeepers, then you can do so here.

Here’s the finding your own version of freedom,

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