643: Is It Time To Hire A Bookkeeper Or Keep Doing It Yourself

This Podcast Is Episode 643, And It's About Is It Time To Hire A Bookkeeper Or Keep Doing It Yourself

A Real-World Guide for Small Construction Business Owners

If you run a small construction business, you've probably worn every hat—from estimator and foreman to project manager and, yes, bookkeeper. Initially, doing the books yourself may have seemed manageable. But now, as you grow, you might be asking:

"Do I need a bookkeeper, or can I keep doing this myself?"

It's a valid question—and the answer depends on where your business is, where it's going, and how you manage your time and money.

As construction bookkeeping specialists, we've worked with both first-time business owners and seasoned contractors. We've seen the difference it makes when you stop guessing at your finances and start getting reliable, real-time information from a professional.

This post will break down the pros and cons of DIY versus hiring a bookkeeper, helping you determine which option is right for your business at this time.

DIY Bookkeeping: The Pros

Let's start with what's great about doing it yourself, because yes, it can make sense for some businesses in the early stages.

1. It's Low Cost (on the Surface)

When money is tight, it's tempting to save every dollar. Doing the books yourself means you don't have to pay a monthly fee or hourly rate.

2. You Learn the Basics

By managing your books, you get hands-on experience:

• How income and expenses are tracked
• What reports matter
• How invoices, payments, and taxes work

That knowledge helps you communicate more effectively with professionals in the future.

3. You Stay Closely Involved

No one knows your business like you do. DIY bookkeeping keeps you aware of every transaction, which can be helpful when you're building habits and financial awareness.

DIY Bookkeeping: The Cons

While DIY works in the beginning, it often becomes a liability as your business grows.

1. It's Time-Consuming

Your evenings and weekends should be spent resting or planning, not catching up on receipts, reconciling bank accounts, or fixing errors from two months ago.

Time spent doing books is time not spent building, selling, or strategizing.

2. Mistakes Are Easy to Make

Without training, it's easy to:

• Misclassify expenses
• Forgot to reconcile accounts
• Lose track of job costs
• Miss important deadlines (like sales tax or quarterly estimates)

These errors can result in IRS penalties, underpricing, or inaccurate reporting, which can harm your business.

3. Poor Financial Visibility

Most DIY systems don't provide accurate job costing, cash flow forecasting, or profit tracking.

If you don't know:

• How much are you really making per job
• When you can afford to hire or buy equipment