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This article is written for the small business owner who has a part or full time bookkeeper and has given some thought to terminating that employee. As a small business owner, tough decisions are made all the time and this one is very important. There comes a time for any small business owner, to make a change, either to replace or eliminate an employee’s position. Terminating an employee, especially in this economic environment is emotionally draining, especially for long standing employees. We all know, that its important to always care about our employees, so this type of decision is very important, and often is hard to make. Sometimes your perception of the problem is blocked by your feelings for the employee, which frequently results in no action. This is article is written to help you understand that now, be the correct time to make a decision.
If you are a small business owner there may be no one to talk too, so the decision is often hard to make. Or perhaps pressing business priorities prevent you from devoting the necessary time to this problem. Below are 10 indicators to help you make that decision or to reinforce your decision to change your bookkeeper. If you can relate with a couple of these reasons and you believe that the problem cannot be corrected, then it may very well be the right time to terminate your bookkeeper or reduce their working hours.
1. Financial information is received late and always has mistakes.
2. You or a family member are financial and computer savvy and willing to invest some additional time to do the bookkeeping.
3. You need to replace the income of your wife, your parents, your in-law(s) or other family members.
4. You are too dependent on the bookkeeper and your bookkeeping doesn’t seem as complex as they make it out to be.
5. You have discussed this problem with the employee, it can’t be fixed and you have made every effort to be fair and equitable.
6. Your bookkeeper doesn’t communicate well with you.
7. Your bookkeeper seems too busy for new tasks and you believe that the new tasks are important and should be handled by your bookkeeper.
8. Your bookkeeper comes in late and leaves early and doesn’t get all the wok done.
9. Given the decrease in your annual revenues, you believe you have too many people employed.
10. Self Realization – It just makes sense, it feels right and you haven’t had the time to terminate your bookkeeper or reduce the bookkeeping hours.
If you have experienced some of the above indicators, it may make sense to consider to internalize the bookkeeping within the family, assuming the replacement person is able to learn how to be computer and financial literate. Like any other accounting related decision, consult with your CPA or accountant to obtain their input.
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