Here are 5 reasons why we think you should consider outsourcing your bookkeeping:
1. Saves you time.
- The time you spend trying to maintain your books is time that you have neglected from areas of your business that desperately need your attention. Leave the bookkeeping to those who love doing it, and spend your time on the things that you love to do, the reasons why you started your business in the first place.
2. Saves you money.
- This may sound illogical but hear me out. Many times business owners try to cut costs by either managing the books themselves, or hiring a family member or friend to do it for them. Unless that family member or friend is a professional bookkeeper, odds are he/she will probably mess things up. When your books aren’t in the proper order, your business isn’t functioning at 100%. When your business isn’t functioning at 100%, you aren’t seeing your profits increase as you should. In addition, if your books aren’t in the proper order, it often costs more in the end to have someone “clean up” the books in order for your taxes to be completed each year. So while it looks like you are spending more up front, it is a worthy investment that will save you money in the end.
- In addition, if you outsource your bookkeeping instead of hiring a new staff member in house, you don’t need to add someone to your weekly payroll. When you add someone to your payroll you have to pay payroll taxes, medical insurance, retirement, etc. When you outsource your bookkeeping, you pay for the service you need and you avoid the overhead costs.
3. Access to Expertise.
- When you outsource your bookkeeping, you have access to top-notch expertise. Your bookkeeper has the training and knowledge base that you can tap into whenever you need to. Since your records are accurate and up to date, your bookkeeper can speak to your numbers when you need him/her to as well.
4. Save on Expenses.
- If you hire a bookkeeper that works outside of your place of business, you don’t have to worry about spending money on the various technology or equipment that he/she needs. When you outsource your bookkeeping, your bookkeeper has the means to manage your books.
5. Peace of Mind.
- Last but not least, you get peace of mind knowing that your finances are in order and there is nothing for you to worry about. With the statements that your bookkeeper can provide, you are in the know about what is going on with your business’ numbers, but you aren’t doing all the financial “heavy lifting” to get to that point. You can rest assured that everything is being done according to IRS standards, and the feedback that you are getting in regards to your business’ level of success is accurate and useful.