5 reasons business owners are ditching diy bookkeeping

David Parker
May 19
3 min read

Updated: May 29

bookkeeping for business owners — Business owner doing their own bookkeeping

In today’s competitive business landscape, small business owners face incredible pressure. They must manage time, cash flow, and compliance, all while striving to grow. It’s no surprise that many entrepreneurs are moving away from DIY bookkeeping in favour of professional bookkeeping services. Though keeping your own books may seem cost-effective, it often comes with a hidden cost—time, stress, and costly mistakes.

Here are five powerful reasons why business owners are making the switch—and how Purple Accounts Warrington makes it simple.

Bookkeeping Essentials

1️⃣ Time Management: Get Your Hours (and Your Life) Back

Time is your most valuable resource in business. Yet many small business owners find themselves dedicating 10 to 15 hours a week to bookkeeping.

A QuickBooks survey revealed that 43% of small business owners feel distracted or frustrated by financial administration. This distraction limits their focus on core activities like marketing, customer service, and product innovation.

Imagine what you could achieve if you regained that time every month.

✅ At Purple Accounts, we handle all your *bookkeeping and financial admin, freeing you to concentrate on growth

2️⃣ Increased Accuracy: Mistakes Are Costly

Bookkeeping errors are more common—and more expensive—than you might think. A single mistake can yield significant consequences. These can include:

Tax penalties and interest
Cash flow troubles due to late invoicing or miscategorized expenses
Challenges when obtaining loans or funding

For example, miscalculating a VAT return can lead to penalties of up to 20% of the total owed, plus additional interest costs.

✅ Our team ensures your records remain accurate, up to date, and compliant with HMRC and Making Tax Digital (MTD) requirements.

3️⃣ Access to Expertise: Know More, Worry Less

Bookkeeping is more than just data entry. It is about understanding your business's financial health. Most business owners aren’t financial experts—and they shouldn't feel the need to be. With tax laws, VAT rules, and compliance regulations constantly evolving, keeping up can feel overwhelming.

Research indicates that small businesses working with professional accountants report 30% more in tax savings than those who attempt the DIY route.

✅ At Purple Accounts, we don’t just enter your numbers—we use them to empower you in making smarter business decisions.

4️⃣ Better Financial Planning: Make Informed Decisions

Without proper bookkeeping, you can miss the big picture entirely. DIY systems often rely on rudimentary spreadsheets or outdated software, making it challenging to grasp trends, forecast cash flow, or plan ahead.

Consider attempting to run your business without knowing:

Your monthly profit and loss
Which customers haven't paid
When your VAT bill is due
How much cash you actually have available

📌 Research shows that businesses with strong financial planning are 70% more likely to survive and grow long-term.

✅ With Purple Accounts’ management accounts and financial reports, you’ll have the clarity and insight you need to move forward.

5️⃣ Stress Reduction: Focus on What You Love

Let’s face it—most business owners dislike the bookkeeping process. It ranks as one of their primary stressors. When combined with the fear of errors or non-compliance, it can quickly lead to burnout.

A recent survey illustrated that small business owners who outsourced their financial administration reported a 40% improvement in job satisfaction. They also enjoyed more time for strategic planning, family, and even leisure.

✅ We do more than balance your books—we provide you with peace of mind.

Moving from DIY to Done-For-You: How Purple Accounts Makes It Easy

Every day, we collaborate with small business owners who have struggled with DIY bookkeeping. Their most common feedback post-switch is reflective:

“I wish I’d done this sooner.”

Our bookkeeping service includes:

Complete HMRC compliance
Digital software integration (Xero)
VAT and payroll management
Monthly or quarterly reporting
Personal support whenever you need it

Everything is done for you—clearly explained, carefully managed, and stress-free. Choose our complete accountancy package or outsourced accountancy service to get everything off your plate.

Financial Wellness: The Path to Success

Incorporating a reliable bookkeeping service is essential for today’s small business owners. Financial wellness leads to better planning and reduced stress. Seeking professional assistance not only saves you time but also enhances the financial accuracy of your business.

One key factor to note is that effective bookkeeping aids in strategic financial planning, often leading to the overall success of the business.

✅ Embrace this opportunity to simplify your life and maximize your success.