5 good reasons to outsource your bookkeeping
Working at your personal capacity. A blessing? Or a curse?
If you’re working hard to make your business successful, you don’t have time to do every task that needs to be done. But sometimes you do it anyway. However, that’s the small business owner’s curse. In addition, you could see it as a blessing if you’re that kind of positive.
- The Curse: The harder you work, the more successful your business becomes. After that, the more successful your business becomes, the harder you work.
- The Blessing: You’re a really great insurance agent, body shop owner, or web developer. As your business grows, you take on more tasks and develop more skills. Overall, you become a great payroll clerk, a fabulous bookkeeper… a well-rounded, highly-skilled, highly motivated Jack (or Jill) of all trades.
Except maybe you don’t
Perhaps you just become a really tired, wholly ineffective insurance agent, body shop owner, or web developer. Subsequently, you have far too many things to do. And maybe you don’t really understand the numbers and you can’t even figure out if you have enough cash to meet your payroll. And yes, you realize that you’re not such a great bookkeeper after all.
There’s that curse again. That’s one good reason why you should outsource your bookkeeping. Here are five more.
1. There’s too much to learn
If you’re already a bookkeeper or you’re number savvy, perhaps you should do your own bookkeeping. If you’re not, the learning curve can be steep. Even if you use bookkeeping software, you still have to know how to set up your system, input your data, sync your bank records, set up your accounts payable and do so much more. Besides, if you really wanted to become a skillful bookkeeper, you probably would have earned a different degree. Outsource your bookkeeping.
2. Because your time is money
Have you ever figured out what your time is worth? If you’re doing the bookkeeping when you should be marketing your products, or making sales, or closing your next big deal, you’re paying a heavy price. When your time is money, choosing to outsource your bookkeeping is a smarter move.
3. A full-time bookkeeper cost too much
An employee increases your financial obligations without a corresponding increase in revenue. You’ll have to pay another salary, vacation time, health insurance, and sick pay. You’ll also have to give your bookkeeper an office with a desk, computer, and chair. (you could invest that money back into your business.) When you outsource your bookkeeping, you pay for services only and that’s that.
4. A bookkeeper works quickly and efficiently
An outsourced bookkeeper does bookkeeping every day, all day. If you need a Profit and Loss statement, an update on your accounts payable, or your latest tax data, you get it. A bookkeeper doesn’t need an hour to figure out how to generate a financial report. He doesn’t wonder what file to access to answer your question. A bookkeeper knows what to do so when you want answers, you get them without delay.
5. We can do it better than you
When you work with Goode Bookkeeping & Consulting, you have access to your own bookkeeping professional. Our staff works with you to set up your system then we set up your accounts and sync your records. We help you keep your payables and receivables up to date and we generate financial reports when you need them. If you need an explanation for anything we do, we’re ready to talk when you are.
Goode Bookkeeping & Consulting
Call us at (860) 968-2345 or complete our consultation form. Let us show you how we make bookkeeping easier for small to medium-sized businesses.