If you found yourself avoiding your books in 2023, and your books fell behind, and you were unclear about your profit margins, cash flow, and expenses—it’s time to outsource your bookkeeping! Don’t ignore your business finances. Start right now. What can you gain by outsourcing your bookkeeping?
1. You save staffing and payroll costs. Adding a bookkeeper to your payroll will end up costing you more in insurance, benefits, and training expenses. Even if your in-house bookkeeper works part-time, your payroll costs will be high since you still have to cover the cost of employment taxes.
2. You have access to a pool of experts and resources. An in-house bookkeeper often operates solo, which means they can run into unforeseen delays or problems without the resources to consult for assistance. They may also lack the necessary experience to adapt bookkeeping systems that support changes and expansions you make in your business.
Outsourcing your bookkeeping to a professional bookkeeper gives you access to a deeper knowledge pool of experienced financial experts. An outsourced bookkeeper often manages the books for a variety of clients, so they’re more likely to stay up-to-date with state and federal regulatory measures that may affect your business now or in the future.
3. You have more time to focus on your business. Many small business owners discover the hard way that bookkeeping is a tedious and time-consuming task. In fact, the average small business owner spends eight hours a month completing their books—that’s a full day of work! By outsourcing this task, you can focus your attention on growing your business.
4. You will enjoy a stress-free tax season. An outsourced bookkeeper is an invaluable resource when tax time rolls around since up-to-date financials are essential when you need to file your taxes. Your bookkeeper can provide you or your accountant with the information necessary to prepare your taxes accurately and quickly.
Start saving time for what’s most important—growing your business—and outsource your bookkeeping to us!