Bookkeeping: Bookkeeping is NOT accounting. A bookkeeper resolves bank statements, writes checks and makes deposits.
Outsourcing: Outsourcing can be an intimidating word, but it means the same thing as hiring from outside your company
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When it comes to your bookkeeping, you need someone reliable and a lot of the times an MBA on your staff may not know how to do the task of a bookkeeper. Here are some helpful hints to let you know whether or not you should outsource your bookkeeping.
Outsourcing tends to work better for:
- Smaller businesses that don’t require a full-time employee to handle their paperwork
- Businesses that need someone with more specific skills than an office manager or a receptionist
- A business that has gone through multiple people on the same post
- A business whose normal bookkeeper is on an extended vacation or maternity/paternity leave
- Small businesses with less than 50 employees
Outsourcing will not work well if:
- You have money issues that require a hands-on management and decision making about what to pay and what not to pay
- Your financial system is too unique
- Your business employs more than 50 people
So if you found a couple reasons to outsource your bookkeeping, but are still not convinced it’s right for your business, here are a few extra benefits to outsourcing your bookkeeping:
- It reduces your administrative costs—an in-house bookkeeper is expensive!
- It will save you time. Let’s face it. You didn’t go into business to do books yourself. You went into it for much bigger reasons and you should have someone else do this for you!
- You’ll receive good advice from trusted advisors with professional resources and years of experience!
- Gain peace of mind when you hire a trusted company. You’ll be certain your books are correct and your efficiency will increase!
To read more about what a bookkeeper does and if you need to outsource your bookkeeping, go to http://www.blueavocado.org/content/outsource-your-bookkeeping
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