Owning a successful business and actually running one are two very different things. Your business has a focus and chances are it is not bookkeeping. Most days small businesses owners are required to do some bookkeeping and accounting work which is distracting them from running and growing their small business.
Unfortunately, your business, big or small, will not be able to thrive if you don’t have effective bookkeeping. If you feel as a small business owner that your books are not being properly handled, it is time to consider hiring a bookkeeping expert. You don’t necessarily have to hire an accountant or in-house bookkeeper, many business owners prefer to outsource their bookkeeping needs instead
Below we have listed some of the key benefits in hiring an outside bookkeeping service for your small business.
Get Only the Time You Need
Outsourced bookkeeping services will devote just the amount of time to your business’ needs. This is the reason most businesses are opting to outsource a number of different jobs today. They get to pay only for actual work done, versus paying employees daily for work they may or may not be doing. This can significantly cut costs opposed to hiring a full-time employee, who will require a full salary plus benefits. Additionally, whenever your business grows or has seasonal needs, no changes are required and your external bookkeeper can easily adjust to demand.
Get the Price You Need
When you run a small business, cost is important, but you don’t want to sacrifice quality because mistakes can be costly. Hiring a full-time bookkeeper or accountant may be too high a salary for a startup venture or small business. Outsourced bookkeeping services can help cut costs. In fact, outsourcing bookkeeping services will save you: employer payroll taxes, workers’ compensation insurance, health benefits, paid vacation, and other fringes. Turnover and training can also be quite costly, which can be eliminated from outsourcing your bookkeeping needs.
Get the Skill You Need
When you outsource bookkeeping services, you are hiring an expert and someone with the latest knowledge and skills in bookkeeping. Although it is less expensive, this does not mean the quality is lower. Hiring an external expert means you can expect the job to be done well every time with no mistakes, but you don’t have to pay for a full-time expert which as we discussed above, would be very expensive. In fact, while saving money you will still have access to a high quality, degreed accounting professional that your business needs.
Get the Team You Need
Although you would hire just one person to handle your accounting needs, there are many additional roles your small business may need. The right bookkeeping firm can, as needed, assign different professionals to your account including clerks, a controller, and CFO. Outsourcing allows access to all of those professionals. Whether your small business is in need of data entry, improved efficiency, and internal controls, financial reporting, or budgeting and forecasting, the right person can be just a phone call away!
Ready to Outsource Your Bookkeeping?
Focus on running your business while Limitless Investment and Capital does your bookkeeping! Whether you’re a new startup or an established small business in Phoenix, Gilbert, or Scottsdale, Arizona we will ensure your books withstand due diligence. At the end of each month, your bookkeeping team will deliver accurate, up-to-date financials which can be extremely beneficial in making better business decisions. Helpful visual reports will also show you where your money is coming- and going. We’ll keep you on track with numerous filings and will help you anticipate upcoming challenges. Whenever you need in-depth analysis or help with forecasting, you can access part-time Controllers or CFOs.