The rise of the online community has
changed the way in which we do business forever. It has brought us
closer to people that can help with our day to day operations as well as
backend business needs, enabling our businesses to run smoother and
turn more profit. One of the key places that this has really made a
difference for business owners is in bookkeeping.
is much like going to the dentist—no one really wants to take the time
out to do it but neglecting the issue can lead to serious
repercussions. For the most part, this is why business owners just
want to hire someone to do it and not have to think about it themselves
until March or April.
Top Seven Advantages youGet from Outsourcing your Bookkeeping
now, because of that great availability factor that the online world
provides, it’s becoming more and more practical for companies to take
this one step further. Instead of having in house bookkeeping services
or doing it yourself, many businesses are finding the multitude of
advantages outsourcing bookkeeping operations has. Here are the top
seven benefits you can enjoy as well:
1. More time.
Outsourcing your business’s bookkeeping operations frees up valuable
time that can be put into bettering the company. Backend office
functions can be a heavy distraction from the day-to-day running of
things and having your bookkeeping in-house can lead to a conflict of
interests. All of these time-wasters and distractions need to go—out of
sight, out of mind.
2. Saving money.
The bottom line is that by outsourcing your bookkeeping operations, you
save money on paying full-time or part-time wages and benefits to an
employee. Further, you also save on lost productivity costs that come
along with hiring employees onto the payroll. By outsourcing your
bookkeeping, you only pay for what you need—nothing more, nothing less.
3. Expertise on your side.Outsourcing
gives you a great way to have full-time knowledge on your team without
having to pay for it around the clock. By putting your books into the
hands of a highly skilled staff who understand the best practices and
how to properly staff for certain tasks, your job becomes a whole lot
4. Focused work staff.
By eliminating the distractions of the office from their jobs, places
that take bookkeeping jobs are able to provide clients with more focused
work. It’s hard for a bookkeeper to do their jobs around the hustle
and bustle of a business—removing them from the site by outsourcing not
only helps you focus on your business, it helps them focus on your
business as well.
5. Team staff versus individual.
When you outsource your bookkeeping, you’re placing your financial
records in the hands of a staff that thrives on teamwork.
Unfortunately, one bookkeeper is often not enough to find every subtle
nuance that can benefit your company. But when you outsource, you have a
team of workers and managers checking and double checking each other’s
work, helping to ensure that you receive the best services possible.
This also helps keep a separation of duties i.e. HR and purchasing are
as individually accountable as credit services and customer care. When
you have your sections running smoothly, they form together to produce a
better and more cohesive unit.
6. Access to top systems.
Outsourcing your bookkeeping operations gives you more access to the
top tools in the industry. Most businesses can’t afford to pay for the
extremely expensive bookkeeping programs nor can they afford to spend
the time keeping up with changing laws and regulations. By outsourcing,
you’re essentially purchasing those tools and that knowledge by proxy,
but it’s even better—you don’t have to actually do any of the work!
Plus, these top systems create nightly backups and keep organized
records and books for years, ensuring that if the IRS ever does come
knocking for an audit, you’ll be more than prepared for them.
7. Scalability options.
Finally, outsourcing your bookkeeping allows you to expand or cutback
in the blink of an eye. Whether you’re looking to grow your business or
cut down on spending, having a reliable team at your behest, providing
you with different plans and options will help you achieve your goals.
Outsourcing provides flexibility that in-house bookkeepers just can’t
Image courtesy of Michelle Meiklejohn/FreeDigitalPhotos.net
Don't reveal any sensitive information, but do have a conversation about the business' financial picture during the interview.
Like any other employee, a bookkeeper should be able to fit in
well with the other workers, so that there's open communication between
everyone involved. While the interview process doesn't show you
everything, it will reveal a lot about the bookkeeper candidates. On top
of the usual hiring questions about strengths and weaknesses and the
person's availability and drive, ask some basic questions specific to
the bookkeeping profession.
Make a list of some of the bookkeeping issues you've encountered
with your business in the past, such as inconsistencies in billing or
payroll problems with wage garnishment. During the interview, tell the
candidate that you want to find someone who can handle your special
circumstances. Explain the issues you've encountered and ask the
candidate how she would handle those issues. The right candidate will
have dealt with these things in the past and can provide a detailed
answer of the steps necessary to take care of the issues. If not, she
should at least know where to go to find a resolution.
Ask the bookkeeper about the experience she has with businesses
like yours. A bookkeeper who's worked with similar businesses will be
the best fit, advises the financial site Samarak.com. Bookkeeping
procedures vary from one business type to the next, so it's helpful to
find candidates who are familiar with how to keep books in your
Ask about the types of bookkeeping software the candidate is
familiar with. In the best-case scenario, she will be familiar with the
type of software you use so she can dive right into doing your books.
She might also have suggestions for an even better program, based on
your business' needs.
Ask the candidate to take a basic bookkeeping exam, provided by
the American Institute of Professional Bookkeepers. This short test will
give you an understanding of the accountant's strengths and weaknesses
and whether she's competent enough to meet your business' needs.