If you’re wondering, “Should I keep my own books as a business owner?” the answer is yes, especially if you’re just starting out. Don’t let anyone convince you that a professional accountant or bookkeeping firm is needed at this stage; it’s simply not true. And while it may sound overwhelming given the many other tasks you’re juggling, managing your company’s finances is one of the highest value-add activities you can perform as an entrepreneur—and it’s 100% worth the time and effort.

Here’s why you need to keep your own books:

1. It Saves You Money

💰 Bookkeepers and accountants are expensive. Even a basic bookkeeping service can cost hundreds of dollars per month, while a CPA may charge thousands.
💰 You can reinvest the savings. Instead of paying someone else to manage your books, that money can be used to grow your business—whether it’s marketing, product development, or hiring your first employee.
💰 Software has made bookkeeping easier than ever. Gone are the days of complex spreadsheets and manual calculations. QuickBooks online is very affordable, and Wave Accounting even offers a free solution.

2. You’ll Do a Better Job

💪 No one cares about your business like you do. A third-party bookkeeper doesn’t have skin in the game. They might process transactions correctly, but they don’t have the same level of attention and commitment that you do.
💪 You understand the context of every transaction. A bookkeeper might misclassify expenses or fail to catch nuances in spending. When you handle your books, you’ll always know what’s going on.
💪 Errors are common, and fixing them is costly. If you blindly trust an outsourced bookkeeper, mistakes can pile up and cost you more in corrections, tax issues, and missed deductions.

3. You'll Have More Control

✅ Financial clarity allows for better decisions. When you know your numbers inside and out, you can make smarter choices about pricing, hiring, inventory, and investments.
✅ You don’t have to wait for answers. Instead of relying on a bookkeeper to update your financials, you’ll have real-time access to the health of your business whenever you need it.
✅ You won’t be dependent on an outside firm. If your bookkeeper disappears, raises their rates, or simply isn’t responsive, you won’t be left scrambling.

4. You'll Have Unrivaled Insights

🎯 You’ll see patterns others miss. By handling your own books, you’ll notice trends in revenue, expenses, and cash flow that can inform strategic decisions.
🎯 You’ll become a financially savvy entrepreneur. The more you work with your numbers, the more financially literate you’ll become—giving you a massive edge over competitors who neglect this aspect of their business.

5. You’ll Protect Against Fraud

📈 Small businesses are the #1 target for fraud. Without financial oversight, employees, vendors, or even bookkeepers can take advantage of weak controls.
📈 Knowing your numbers helps you catch red flags. Whether it’s a suspicious charge, a duplicate payment, or an employee stealing from the company, keeping your own books allows you to detect issues early.
📈 Trust, but verify. Even if you eventually hire a bookkeeper, understanding the basics yourself ensures you’re never in the dark about your own finances.

If you’re ready to take the leap but unsure where to start, LEDGEROO can help. We’ve built the world’s #1 platform for learning accounting online. Through step-by-step lessons and interactive gamification, LEDGEROO will give you all of the knowledge and skills you need to not just “get by” with keeping your own books, but to think and act like a trained accountant.

Do the right thing for your business. Get started with a free trial today and take control of your financial future.