What is Outsourced Book-keeping?
Outsourced bookkeeping involves independently working professionals who do the bookkeeping tasks at their business sites. Bookkeeping has to deal with keeping the records safe and organizing the financial information in the form of balance sheet and profit and loss statements. Outsourcing your bookkeeping you get an online service to do the messy job for you.
Why Outsource Bookkeeping?
Outsourced bookkeeping is getting popular day by day. Here are some reasons why you should go for outsourcing your bookkeeping:
• Many business men are overwhelmed the very idea of hiring professionals for managing the bookkeeping for their progressive businesses. Even if you hire a professional you never know when he would quit for a better job, and you have to go through the hiring procedure again. To prevent this hassle, go for outsourced bookkeeping.
• Hiring is expensive. It is hard to find professionals who have advanced knowledge of computer software and often have to be paid high and with additional benefits.
• In outsourced bookkeeping you have to spend 30% less as compared to the salaries you have to pay hired professionals for the job.
• You have to spend time in building customer relationships. Time spent on hiring professionals to manage your books distracts you and you lose the time you could have spent building strong relationships with your customers
• If you do not have a clue at a certain point in time where your business stands, and you have to go through a lot of effort to evaluate your performance, it is not a good sign. With well-established balance sheets and cash flows, your outsourced bookkeeper can provide you with all the information necessary for you to know.
• Outsourcing your bookkeeping reduces the operating costs for your business.
• The company can stay more focused and improved if systemized bookkeeping is available.
• With outsourced bookkeeping, you can view the current position of the business whenever you want. All you need is an internet connection and it does not matter where you are and what time it is. This cannot be done with hired professional or offline book keeping firms.
• You are not limited to the firms or professionals within certain vicinity. Distances do not matter anymore. With outsourcing your bookkeeping, you have a never-ending variety of book keeping services that you can opt for.
Misconceptions
Some people see the bookkeeper deals with outsourced bookkeeping as a loss of control over their business as much of the information. This is not true because the outsourced bookkeeper only organizes the record-keeping, keeping track of the money spent and earned through sales, and payable accounts. The bookkeepers only keep the count. The management is never his business and all the decisions are made by the businessmen. Where the money goes and when is all in your own hands. Managing your books does not give any control of your business away. It is your business after all!
