Two things are certain in business: you’ll make money and spend money.
As a small business owner, you’re familiar with juggling several tasks and responsibilities at once, from sales and marketing, planning and strategy to customer service and paying business bills. It’s a difficult job that will require you to delegate some responsibilities.
Now you may wonder, “Is bill payment one of these responsibilities?”
Yes, it’s entirely possible to outsource bill payment and management to a bookkeeper. In some organizations, the bookkeeper usually makes payments on behalf of the business, including paying suppliers and utility bills.
Optimizing Accounts Payable with a Bookkeeper
The responsibilities of a bookkeeper include a great deal of data entry and receipt wrangling. A bookkeeper will track bills, invoices, and transactions and perform money-related tasks for your business. Bookkeepers can also handle their accounts payable.
Here’s what a bookkeeper can do for you in regards to bills management:
- Enter invoices into the accounting system
- Sending out payment to the vendors
- Reconciling your bank accounts
That said, one person should not be responsible for all these tasks. For instance, the person who enters bills into the accounting system should not be the one signing the checks unless they own the business. Separating these tasks minimizes the risk that business funds will be misused.
Having a system that allows you to approve bills before they’re paid is paramount. Then, the bookkeeper will post the statements to Accounts Payable when they arrive, note payment deadlines from each vendor, and ensure you make the necessary transfers when they are due. Creating such a system with your bookkeeper will save you valuable time while maintaining proper internal controls.
Find a Bookkeeper That Provides Bill Pay Services You Can Trust
Efficiency makes a business more valuable for you and your customers. Outsourcing certain aspects of your business can help increase your sales and grow your market share. All this is to say; that you don’t have to manage bill pay services yourself. These are some of the tasks a virtual bookkeeper can handle for you.
It’s important to understand that a bookkeeper isn’t just some guy who crunches the numbers for you. When you hire a bookkeeper, you’re placing your business and livelihood in someone else’s hands. Thus, your relationship with your bookkeeper must be one filled with trust.
Let’s look at some of the typical responsibilities of a bookkeeper. Expertise and trustworthiness are measures in more than certifications. It’s vital to factor reputation and years of operation into your decision. You’ll want to work with a bookkeeper with a demonstrated history of working with a business like yours – same size, same industry.
As your business grows, managing daily operations and ensuring your books are up-to-date and accurate becomes more complex and time-consuming. You’ll have to hire a bookkeeper at some point. Make sure you hire the right one.
Outsource Bill Payments to Our Accounting Experts
Using our secure bill pay services, your bills will be accurately monitored for discrepancies, tracked, and reconciled. We’re here to ensure your bills are paid on time, every time.
Contact Goode Bookkeeping & Consulting
Call us to learn how we can provide your business or industry with our qualified bill pay services. You can reach us at (860) 659 6543 or complete our Contact Form to schedule your free consultation.