What are the Benefits of Outsourcing Your Bookkeeping?

An outsourced bookkeeper is focused on one thing; managing your books.

They aren’t answering the phone, scheduling staff, buying office supplies, or putting out the day-to-day fires.

During the time they work with you each week or month, your bookkeeping is number one on their to-do list; it doesn’t get pushed aside for other responsibilities.

An outsourced bookkeeper is more likely to have a wide range of fiscal experience and knowledge than an in-house person with part-time bookkeeping responsibilities.

They usually works with several clients, giving them multiple points of comparison, and are more likely to know if an expense seems high, or have experience with various vendors and be able to make recommendations.

They can work with you to create better strategies to manage cash flow, reduce expenses and increase profitability.

They may also be able to help you create internal controls to minimize theft or other losses.
An outsourced bookkeeper is better able to tell the owner ‘bad news’ than a staff person with part-time bookkeeping responsibilities. A staff person who works with the owner every day may hesitate to tell them about problems because they don’t want that to reflect on them.
An outsourced bookkeeper is less likely to play office politics.

 

They don’t care what someone else is being paid and aren’t upset because they didn’t get the new desk. Any recommendations they make will be based on what they think is best for the long-term health of your business.

 

An outsourced bookkeeper is less likely, and less able, to steal from you. Generally, an outsourced bookkeeper is NOT (and does not want to be) a signer on your bank accounts, is not processing their own payments or payroll, and does not have a company credit card.

An outsourced bookkeeper may able to act as a liaison with your accountant, identifying possible tax-saving strategies for your particular business or assisting with long range planning.
Working with an outsourced bookkeeper creates a structure that facilitates regular financial review.

 

The owner is more likely to meet with the bookkeeper on a regular basis if they are on-site for only a few hours every week during a regularly scheduled time. Even 15 minutes at the end of each session to go over the big picture can make a difference.

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