Any business person knows bookkeeping is not only valuable, but it is essential to running a business successfully.
Unfortunately, for many small businesses it may be a burdensome task- often leading to many headaches and ultimately the downfall of the company. Did you know there are services specifically for outsourcing bookkeeping?
Companies that handle bookkeeping for other businesses exist to relieve the headaches that come with organizing documents, invoices, and data. Outsourced bookkeeping is a diverse niche, offering a wide range of services such as:
Full charge bookkeeping
Inputting sales data into a spreadsheet
Hiring a bookkeeping service to handle your records will naturally provide relief and free up much of your time, but there are many other benefits. Here is a glimpse at just a few.
—-> You Don’t Have to Hire a New Employee
You run your business to make money! Naturally you want to funnel more of that money into your pocket. By hiring a service to handle your bookkeeping, that is one less employee you have to hire. One less paycheck out of your pocket. One less person you have to offer benefits to. One less hand to hold while you carry your business to new heights.
Services that exist to manage books for everyone else hire employees just for that. They serve as that employee, but for a fraction of the cost to you. Think of them as a shared department. By “sharing” with other companies, you get personalized and flexible solutions tailored to your company without having to pay for an in-house bookkeeping department.
—-> Hire Out as Much or Little as You Need
No matter the level of organization you already have in place, outsourcing is beneficial for any company. From a part-time filing assistant to a full charge bookkeeper, companies (like this one) will tailor their service to meet your needs. Check out these situations to see if you relate to any-
Business 1 typically has the skill and man-power to do their own bookkeeping. They have a major project coming up and they don’t want to spend their valuable time entering numbers when they could be focusing on meeting with stakeholders, executing their goals, and finishing on time.
Business 2 has a top-notch accounting department, but they would like better organization for data entry. They aren’t ready to hire new employees, but don’t want to overload their current team with the tasks.
Company 3 is unfortunately on the brink of crashing. They are a small family business and just can’t keep up with paperwork or manage data effectively. They are really starting to lose hope that they can get their books in order and fear losing the company they have worked so hard to build. (Side note: if you are in this situation, there IS hope. Read more about building and rebuilding of businesses from any state.)
Whether you already have an in-house bookkeeping department or don’t have any record organization in place, hiring an external bookkeeper could be beneficial for your company. There are a million different scenarios why you may be interested in hiring a bookkeeping service, but the solutions available to you are equally as abundant through a good bookkeeping service.
—-> You Can Be Sure to Receive a Professional and Safe Service
Having someone else handle YOUR sensitive information can be, quite frankly, terrifying. The most unfortunate tales to hear in business are of employees within a company taking advantage of their access to sensitive info and compromising the company…it is even more unfortunate to be the company that happens to.
Rest assured when hiring a reputable bookkeeper that your information is safe and will never be mishandled. Companies such as Transaction Possibilities hire professionals who understand the significance in providing secure services and the ramifications that come from abusing sensitive information. As an added security, look for companies that are backed with liability insurance, which will provide you the reassurance that you are protected and would come out unscathed from any mishap.
Outsourcing your bookkeeping is a convenient and wise move to make. It is a cost-efficient way to complete a job that needs to be done- in spite of not having the skill, man-power or desire to do it in-house. With the right company and a solid plan, outsourcing could be one of the best things you do for the future of your company.