Many small businesses are "do it yourselfers" due to a misguided sense of saving money. It's especially difficult with bookkeeping. But finding the time and having the skill to keep their records and wondering if they are doing things correctly is often a struggle.

Hiring a experienced and GAAP knowledgeable bookkeeper not only saves the business owner money in time, but usually saves in taxes as well. A skilled bookkeeper can do the job in half the time it took the business owner and they will be able to clean up the records that may have been incorrectly recorded, review employee records, and save in late fees. The bookkeeper will be able to see trends and help the owner think strategically about where the money is going and where you can save.

The rates for hiring a bookkeeper on a part-time basis can range from $20-$60 an hour, depending on location, workload and whether the work is done at the company's location or from the bookkeepers office.

Don't under estimate the value of a skilled, diligent bookkeeper. Remember that what your bookkeeper does determines the information used to prepare your tax return. Bookkeeping may seem easy, but wait until you have one mistake make a mess of your books; it can cause trouble for years.