5 Reasons to Outsource Your Bookkeeping
Bookkeeping is one of those tasks that generally anyone can do with a little bit of training. Some business owners insist on doing their own books. Others who feel that they don't have time to do their own books sometimes hire an in-house bookkeeper. This is all well and good, but there is another option which is becoming increasingly popular: outsourcing the books. Here are five reasons why you should seriously consider outsourcing your bookkeeping.
- More time. As a business owner you have many hats to wear. Your time is limited. If you do your own books, your time is even more limited. In this case, outsourcing would free up your time to focus on long-term planning, growth strategies, and adding value to your customers' lives. If you have someone like your office manager doing your books, outsourcing can save them time as well. Free up your employees to focus on the day-to-day business of keeping your customers satisfied and avoid the distraction of less pressing duties like bookkeeping.
- More money in your pocket. Outsourcing can save you money for several reasons. Remote bookkeepers often take a flat, monthly fee. This saves you the cost of hiring an employee, training them, paying them an hourly wage plus benefits, and then paying all of the associated taxes. While you may be uncomfortable not having a bookkeeper on the premises, outsourcing to a remote bookkeeper is like having a full-time employee at a much cheaper price thanks to the beauty of the internet. (A word of caution though. There are very inexpensive remote bookkeepers out there, but the saying does ring true: you get what you pay for. Even still, higher end bookkeepers are generally less expensive than hiring someone in-house.) Additionally, remote bookkeepers (great ones, anyway) use bank level security to guard your financial information. Remote bookkeeping is no less secure than online banking.
- Remote bookkeepers are highly diligent with your books. There is a lot of competition out there for remote bookkeepers. This means that once a bookkeeper obtains a client, they are very keen to keep that client. What this means for you: extremely accurate books, effective communication, lightning fast service. But wait, there's more! If you should ever become dissatisfied with your remote bookkeeper, it is so much easier to cancel the contract (if there even is one) than to fire or lay-off an in-house employee.
- Unbiased advice. A remote bookkeeper is more likely to "tell it to you like it is". They can give you impartial advice about the health of your finances and how to reach your goals.
- More predictability. If outsourcing to an awesome remote bookkeeper means faster service and more accurate books, then this also means greater predictability for your practice. Having complete, up-to-date books allows you to plan for the future with more confidence because you have a better idea about how your practice is performing.
As you can see, there are many great benefits to outsourcing your books. If you feel that this is an action that you are ready to take, or even if you're only mildly interested and would like to know more, please don't hesitate to contact me. I'm here to help you make the best possible bookkeeping decisions for your business. Your free consultation is just a click away!