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5 Reasons to Outsource Your Accounting & Bookkeeping
Published: April 30, 2024 • General Business Tips, Small Business Rescources, Subcontractors vs. Employees, Tips for Business Owners
I’m sure you’ve heard of the wildly popular sites such as Fiver and Upwork. On these sites, you can find just about any contract talent work that you need. People showcasing how they can help your small business on a project basis. Most of us also hire out web designers and a tax attorney or CPA to do our yearly tax returns. Grant it, some of us might have wicked skills in many areas but most small business owners aren’t good at everything. I’d like to argue just because you can doesn’t mean you should. You should be doing what you love and what you’re good at. You should be hiring out or outsourcing the rest. When it comes to monthly accounting and bookkeeping tasks, that is a great area to rely on a trusted professional. Why? Here are some reasons.
5 Reasons to Outsource Your Accounting & Bookkeeping
1.Bookkeepers will be faster and more efficient at numbers.
That’s all we do day in and day out. We perfect the accounting processes and the checklists, and we can stay on top of your numbers in our sleep! Well, not in our sleep but you know what I mean. We look at financial reports all the time and are inQuickBooks most of the day. Why try to learn and accomplish all of that yourself?
2. Save money by avoiding job ad costs, interviewing, and training costs.
On average it takes us 3-6 months to find a great reliable accounting professional to sit on our team. Imagine trying to find out to sit on your team without the knowledge we have. How would you know that candidate is qualified or knows what he or she is doing? It will be that much harder and more expensive for you to undertake that process.
3. Avoid adding more payroll costs to your budget.
Outsourcing bookkeeping is just plain cheaper. It’s a wonder why some people complain about the monthly cost. If you do the math with hiring even a part-time employee, in the end, outsourcing is still more affordable compared to the payroll expenses you will incur.
4. Save your tangible resources.
Hiring an in-office accountant or bookkeeper requires a desk and computer. Providing that space and the computer equipment does affect the business footprint and IT resources. Dollar signs keep adding up.
5. Accuracy and value are the result of a professional doing the work.
Of all the reasons listed in this post, accuracy and value should be the driver for any small business owner. Outsourced accounting help is incentivized to help you succeed. If you succeed, we succeed. Reliability and accuracy are too very important factors you can’t put a price on. Do you want accurate reports to make wise decisions for your company? Do you want to pay your fair amount of taxes instead of over or underpaying? Hiring a trusted professional is priceless when you’re each pulling in the same direction, and they are synergistically helping you succeed financially.