Business Owners Find Outsourcing Their Accounting Operations Benefits Everyone
Are you a business owner overwhelmed with bookkeeping? Does payroll make you want to pull your hair out? Have you spent countless hours trying to make sense of spreadsheets? Majority of business owners experience the same headaches and frustration when it comes to tracking their own books. It can be a daunting and stressful task, but you don’t have to do it on your own. Many people may not even know they’re leaving money on the table because of errors or inaccuracies in their books. You’re an expert in your field and you should have an accounting expert taking care of your books.
Advantages of Outsourcing
- Scalability – Many small businesses don’t need to hire a full-time employee to handle their business accounting needs or they are unsure of their needs due to fast growth.
- Different levels of experience – Many business owners don’t know how to tell whether a potential hire has the experience needed to keep the books in order. Therefore, many businesses prefer to use a service with experienced bookkeepers that are well trained and that have internal resources to bring in a more experienced associate when needed.
- Confidentiality – Don’t worry about employees knowing the financial details of your business and keep your business information with an outside firm that is contractually bound to confidentiality.
- Third party certification – Lenders, landlords, insurance auditors, and regulators prefer third party financial statements that are properly prepared and provided with a cover letter from a firm that has prepared them.
- Time – Taking your accounting stressors out of the picture allows you to focus on what you do best and why you started your business in the first place.
Where Should You Start?
You can outsource all your accounting needs or pick and choose what you’d like help with. A large number of business owners find that having assistance with just part of their accounting department can improve their business as a whole. Our firm offers services including bookkeeping, payroll, AP/AR, billing, tax reporting, and performance reports. It is important to asses your business and think about if outsourcing would benefit your business.