Why designers (may) need bookkeeping help

Most designers start doing their own bookkeeping, and why not? Good software means it’s really not that difficult. Keeping the cost (and the control) inhouse makes good sense.

Until it doesn’t. And that’s the skill.

The real skill in bookkeeping is knowing when to handover to a more skilled expert. What you’ve got to gain and what – if anything, you’ve got to lose.

Bottom line is, most designers relegate their business accounting to late night or weekend work. After all, compared to designing, entering data and form filling is boring. Problem is, doing it after hours often means it’s not done well.

We see it so often; designers juggling multiple tasks, wearing many hats; from creative work to client management. In all of this the one critical area that is often overlooked is financial management.

If that’s you, hiring the right bookkeeper could provide essential support, letting you get back to what you do best: design.

Here’s why a bookkeeper is invaluable for managing money.

1. Time savings
 Designers typically wear many hats—handling marketing, client communications, and project delivery. Financial management, with tasks like tracking income, expenses, and taxes, can become overwhelming and often put off to do creative work. A bookkeeper can take these responsibilities off your plate, saving valuable time that can be used for creative projects.
2. Accurate financial tracking
 Tracking expenses, invoicing clients, and managing cash flow are critical to maintaining a healthy business. A bookkeeper ensures accuracy in financial records, reducing the risk of missed payments or financial mismanagement. By keeping track of income and expenses in real time, a bookkeeper helps you understand your true financial situation.
3. Tax compliance and deductions
 Bookkeepers are knowledgeable about tax regulations and can ensure that you comply with tax obligations. They also help identify eligible deductions, such as equipment purchases, software subscriptions, and workspace expenses. This reduces the tax burden and helps you keep more of your hard-earned money.
4. Improved cash flow management
 For many designers, cash flow can be unpredictable, with project-based payments that vary from month to month. A bookkeeper helps manage this uncertainty by forecasting cash flow, ensuring there’s enough money for operational costs, and planning for leaner periods.
5. Strategic financial insight
 Beyond bookkeeping tasks, bookkeepers can provide financial insights and reports to help you make informed business decisions. This includes understanding profit margins, identifying profitable projects, and setting financial goals for future growth.

In short, a bookkeeper is a vital partner in a design business, offering financial clarity, stability, and strategic guidance while freeing up time for creative work.

Takeaway

Hiring a bookkeeper is as complicated as hiring a new team member. We’ve written an ebook explaining more about the bookkeeping needs of a creative agency … and how to hire your first bookkeeper.

Greg Branson

Contact me if you would like to learn more about selling design impact.

Design Business Council : business advice for creatives.
We help designers build better, stronger, more sustainable businesses.

More articles about managing money

1. End of month financial checklist.
2. Profit and loss in a design business.
3. Financial management planning.

Design Business Review is Australia’s only online design management magazine. It’s professional development information written specifically for Australian designers by Australian designers. Best of all, it’s free.

Greg Branson