How many of us small business owners enjoy invoicing, bank reconciliation, payroll and tax compliance? Not many. And unless it is core to your business, there is a chance that you aren’t doing it as efficiently as it could be.
There is a simple solution – outsource your bookkeeping to a professional bookkeeping service who can free you and your staff’s time up to do what you all do best – serve your customers.
Outsourcing your bookkeeping means you no longer have to worry about employing, training or managing a bookkeeper.
If you are one of those business owners that does the books themselves so you can keep control over your finances, rest assured.
A bookkeeper only does the transactional pieces such as invoicing, accounts payable and balancing the books. The business owner still makes the decisions. Systems are used to make sure the owner has the final word on who gets paid and when.
You will actually have more control over your business because accurate, clean books mean you will have an up to date picture of your cash flow, sales and debtor situation and can make decisions accordingly.
Some business owners think that the books aren’t important because it isn’t a customer facing part of your business. But the time you spend fixing problems, answering questions and apologising to suppliers for late payments is time you could be spending on generating revenue.
In many cases outsourcing will also save you money because you are only paying for the time actually spent working on your books. Not only do you save a salary but have lower overheads and no hiring or training cost.
A good small business bookkeeping service will also have a good understanding of accounting software such as Quickbooks, MYOB, Banklink Xero as well as payroll systems such a Crystal Payroll
If there is someone who can do it better, faster, and cheaper than you, then outsourcing your bookkeeping is an easy decision.