How A Fractional Bookkeeper Can Unclog Your Plumbing Business?  

It’s possible that you clicked on the link as a plumber. So, let’s get one thing out of the way: we don’t know much about plumbing.   

However, we have heard about Benjamin Franklin Plumbing. They are a well-known plumbing company across the US.  They are good at everything they do. However, let’s say they want to deal with accounts receivable, manage their general ledger, and file taxes, and they don’t want a full-time commitment.   

So, they won’t hire fancy/expensive accounting services; they would simply hire a fractional bookkeeper. If your plumbing business wants to deal with similar problems, grab your notepads as we are about to tell you how a fractional bookkeeper can help you.   

Who is a Fractional Bookkeeper?   

A fractional bookkeeper works part-time, keeps your books in order, ensures your accounts receivable are paid on time, manages cash flow, and more.   

The word part-time is important here, as many people confuse it with a full-time accountant. A full-time CFO or accountant is great if you have a budget for it. But for many plumbing businesses (this is what we learned when working with several plumbing companies), hiring a full-time accountant isn’t practical.   

So, why pay for a full-time position when you can get expertise for a fraction of the cost?   

If you want to learn more about the functions of a bookkeeper, you can check out our detailed guide here.   

Why do Plumbing Businesses Need Fractional Bookkeepers?   

We were talking to one of the owners of a plumbing business. He said his business doesn’t require a fractional bookkeeper. However, he didn’t know that 40% of small business owners think bookkeeping and taxes are the worst part of running a business.   

Just think about it: you get bookkeeping perks without hiring a full-time person.   

You get all the perks of bookkeeping without needing to hire a full-timer. Let’s go into more detail and find out what a fractional bookkeeper can do for your plumbing business.   

Clearing the Pipes   

Correct us if we are wrong, but it’s all about the flow in plumbing, right? If the water isn’t flowing, it’s not good. Cash flow works the same way. Without a positive cash flow, you can’t scale your business, pay bills, or pay employees.   

A fractional bookkeeper ensures your cash flow runs smoothly, and you don’t worry about a major expense or make a payroll. What they do is apply cash flow forecasting. It tells you when you’ll receive the money or when you can use it for expenses. The good thing is they create short-term and long-term forecasting, so you can avoid cash flow problems.   

Better Invoicing   

You probably have dealt with clients who love to delay payments. You sent them an invoice, and it seems like it disappeared into a black hole. The fractional bookkeeper ensures your checks come on time.   

They use several invoicing strategies, such as discount invoicing, where you can pay your money in advance without waiting for the invoicing process to complete.   

Smooth Tax Season   

Taxes are like splurges in pipes; dealing with them can be a mess. As we said earlier, 40% of small business owners find bookkeeping and taxes the worst parts of running a business.   

With a fractional bookkeeper, tax season becomes less scary. They take care of all the necessary compliance, keep your financial records accurate, and make sure you don’t miss out on any deductions.   

Better Insights   

You know what it is like to show up at a job and see the real problem is bigger than you think. Fractional bookkeepers take a high-level view of your financial situation and interpret data to tell you what’s working, what’s leaking money, and where you can save.   

Cost-effective  

As we mentioned earlier, hiring a full-time accountant can be expensive. With a fractional bookkeeper, you get the help you need without a full-time cost. In addition, you have the flexibility to call the bookkeeper whenever you want.   

Final Thoughts  

Just as you work with the right tools, fractional bookkeeping is a great tool to keep your business growing. Remember, it’s not just about placing numbers on the sheet.   

You are an expert in plumbing, so isn’t it better to leave the accounting to the pros? We provide comprehensive bookkeeping services to make sure your business runs smoothly.   

FAQs  

What are fractional services?  

A fractional service provider is an expert who offers services part-time to several clients.   

Is a bookkeeper an accountant?   

Bookkeepers and accountants often do the same thing; however, accountants also provide consultation, advisory, and analysis.