With the advancement of technology, the way we do business has changed tremendously. We are often able to outsource work at a much lower price point than 20 or 30 years ago, simply due to the way that we communicate and transfer information. One thing that often gets neglected, by small businesses in particular, is bookkeeping. Small businesses are often more focused on driving sales and client retention than keeping track of their financials. Business owners that do understand the importance of keeping their books in order and receiving accurate financial reports often don’t know where to find a reliable and experienced bookkeeper. In this blog, we’re going to talk about some of the top reasons you should outsource bookkeeping for your small business.
WHY SMALL BUSINESSES SHOULD OUTSOURCE BOOKKEEPING
SAVING TIME AND MONEY
As a small business owner, your time is precious. Many new business owners are overwhelmed with work because they think they can handle taking on multiple jobs and avoid hiring employees for as long as possible. However, this is the wrong way to go about things. Once your startup is financially stable enough, it’s important to start bringing in experts who can take the work off your shoulders and that’s no different when it comes to bookkeeping.
In this situation, you have two options: look for a full-time bookkeeper or outsource your bookkeeping. Although hiring a full-time bookkeeper is an appealing prospect, there are a few problems with this. New employees means new overhead costs like a new computer, desk, and office space. It also means an increase in taxes and benefits owed to your new employee. The solution to this problem is outsourcing. You’ll avoid the need to spend weeks or months searching for a qualified candidate and instead, start seeing immediate results for less.
SCALABILITY
Scalability is an important factor to consider when you’re either hiring or outsourcing a bookkeeper. Since most small business owners are focused on growth, you’re going to need a bookkeeper that can keep up. Outsourcing will allow you to expand or cut back on your expenses as needed without ever letting your bookkeeping take a toll.
PROFESSIONAL ATTENTION
One problem with bringing in a full-time bookkeeper is that you have no way of knowing if you’ll see results from them. They may have received their certification or just graduated college, but they often don’t have the experience you’re looking for in order to keep your books in line. Not to mention the fact that you’ll need to interview each candidate and determine which one is most qualified, which is never an easy task.
Finding an outsourced bookkeeper is a lot easier and there’s a lot less room for error. Most bookkeeping firms clearly state their certification, experience, and services on their website and allow access to testimonials so that you can be certain you’re getting quality bookkeeping services and not paying someone who needs to be trained.
FLEXIBILITY
No small business owner wants to hire someone with the intention of firing them a year or two down the line. If you hire a full-time bookkeeper, that person or their services may not be right for you later on. If that happens, you don’t want to put someone out of a job who’s doing everything right. Outsourced bookkeeping is different because you can feel free to continue or cancel services at any time without any serious consequences.
CALL A QUALIFIED BOOKKEEPER
Now that you know the benefits of outsourcing bookkeeping for your small business, all that’s left is to find one that’s right for you. A Bookkeeper 4 U would be happy to speak with you about your bookkeeping and payroll processing needs. Simply give us a call today.