After reading this you’ll wonder why you haven’t considered accounting outsourcing sooner.
Are you considering accounting outsourcing for your small business? If not, it’s time to take a look at what you could be missing out on. There are so many benefits that you might not even be aware of. Read on to see exactly what we mean.
Benefit #1: More Time for You, More Time for Your Business
Get rid of the distraction of accounting and get back to the day-to-day tasks of running your business. One of the best things about outsourcing your accounting is the time you will gain to focus on your business.
Your product or service is your area of expertise. Taking time out of every day to learn accounting and then to execute all that it takes to do it right is not time well spent. Keep the focus on your business and let an expert focus on your finances.
Benefit #2: Save Yourself Money
Have you looked into the expense of hiring a staff accountant? It would include wages, benefits, overtime, taxes, insurance and overhead. Instead of spending money on someone that may or may not be busy all the time, outsourcing means you only pay for the services and the time you need.
You’ll also save money by hiring an accountant instead of doing it yourself. What is your time worth? Whatever amount of time you’re spending on your accounting, the value of that time could be better funneled into growing your business.
Benefit #3: Hire an Expert Instead of Trying to Become One
Are you an accountant? Probably not. Even if you can work your way through a Quickbooks tutorial, why try to add that hat to your already growing stack of responsibilities you have when running your business? Instead, hire an expert who already has the training and experience to help you manage all of the financial information that makes your business run.
Putting your financial record keeping into the capable hands of an expert will also help you keep up with best practices, tax law changes and industry regulations. They can also use their expertise to help guide you when you’re ready to invest in new equipment or overhead, when creating and setting budgets, and when it comes to payroll, hiring and staffing needs.
Benefit #4: Increased Efficiency
Outsourced accounting is more efficient than doing it in-house. Why? Because it’s more focused. Instead of trying to work on your bookkeeping in the middle of the hustle and bustle of running your business, your off-site accountant can focus on making sure information is entered correctly, that reports reflect your financial picture accurately, and that they only take the time needed for your business to work on your business.
And even more important than the lack of distraction, when you outsource your accounting, you’re outsourcing to a team, not an individual. This means your accounting gets done, no matter what. You have the eyes of a team on your books to ensure accuracy, and there are checks and balances when it comes to your taxes and compliance.
Benefit #5: Accounting Software and Easy Access to It
You have to have good and reliable accounting software for your business. It’s a complete necessity in this day and age. Outsourcing your accounting means you have access to the latest versions of the best software. With password protected logins and built-in security, you can rest easy knowing your information is safe. Online accessibility means you can log in and have access to your financial information from anywhere you are, whether across town or across the country.
All small businesses need accurate accounting. It’s up to you whether you want to try to take that on yourself or you would rather take advantage of all of the benefits of having an expert manage this valuable aspect of your business. Call 678-990-0924 for a free consultation to learn how accounting outsourcing can help your business.