Why outsource your bookkeeping? – Part #1
Outsourcing your bookkeeping needs for a small business makes great sense on a number of levels.
Many businesses today are learning the value of outsourcing various tasks. There are payroll and human resources companies, accounting and bookkeeping companies, safety, IT and distribution companies. Outsourcing can offer a small business the opportunity to not be distracted from their core priorities. In fact, 35% of America’s largest businesses outsource their bookkeeping.
The first advantage to consider is probably the most obvious one – which is the financial savings. Hiring an in-house bookkeeper, even part time, requires considerable capital. Here is a brief list:
- Computer, software and IT
- office space
- office supplies
- human resource expenses
- salary and benefits
How much does it cost for a truly capable bookkeeper that won’t mess up your books?
How do you put a price on knowledge? You don’t want just anyone involved with your financial affairs. You need a quality bookkeeping solution. A great bookkeeper should be a knowledgeable partner helping you achieve your financial goals.
Is an hourly bookkeeper the answer? Honestly, it is not advantageous for an hourly bookkeeper to accomplish the most in the least amount of time. You become concerned about how many hours it is going to cost you in order to get financial reports. Yet you need timely reports in order for them to be relevant and useful to your business. (A fixed monthly price solves that issue.) A great bookkeeper will be a professional.
Is pencil and paper good enough? A great bookkeeper should know and use current technology in order to provide consistent financial reports for better business decisions. You need someone you can depend upon to help you accomplish your dreams.
A great bookkeeper should be a trusted partner in your financial success.