Every business needs all the attention and careful planning it can get in order for it to survive and thrive. And among the things that it can benefit from include having bookkeeping software. However, not all business owners acknowledge the importance and help of such software. Instead, they prefer to do it by themselves and end up making all the mistakes in accounting and bring their businesses to the edge.
Another option to ensure a company’s efficient services and strong cash flow is to hire a professional bookkeeper. This person is experienced in the ins and outs of keeping records of transactions of a company. A bookkeeper helps out in the tasks of the accountant and makes the accountant’s work easier and more efficient.
Here are some of the advantages of hiring a bookkeeper.
- Security even when the bookkeeper or accountant leaves. An in-house bookkeeper is beneficial for a company. However, it is even more beneficial if the company hires an outsourced bookkeeping company. This is for the reason that in the event that that the in-house bookkeeper leaves, the company may be crippled especially if this professional takes along the knowledge of the business with them. It would take time and money to invest and train a new individual for the job. On the other hand, an outsourced bookkeeping company, which also uses software for accounting, will be able keep all records of the company and safely keep a backup of all these records in an off-site storage facility.
- Labor costs are reduced. It is also better to outsource a bookkeeping company because it lowers costs. This is because the company only has to pay for the actual time the services of the bookkeeper are used. Besides that, there is no more need to spend for training the professional and getting them acquainted with the business.
- More efficient work. Hiring an outsourced bookkeeping company is a good move because it reduces the tasks of the company’s employees; thus, giving them more time to work on more important and pressing issues of the company.
- It saves time and stress. Paperworks are really hard to deal with. This is especially true when deadlines from the IRS are coming in and threats of penalties are starting to arrive. By hiring a bookkeeper, the work is taken care of.
- Gives a more holistic view of the company. When business owners take all the responsibility by themselves, they tend to overlook things and some aspects of the company. However, if a bookkeeper is hired, they are assured that a bigger view of company is seen. More than that, the bookkeeper can give advices on the following aspects:
- Payroll processing
- Issuance of invoices and receipts
- Reports on how the business is going in relation to its budget
- Advice on the profitable aspects of the business
- Inventory tracking
- Tracking of costs
A bookkeeper works more efficiently if bookkeeping software is also being employed. And when looking for the best software, look for Shoebooks.com.au.
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I am also into hiring a bookkeeper full time rather than doing it by myself or hiring someone temporarily. And when you hire a bookkeeper offshore, it's pretty possible to find someone competent, skilled and reliable for less than $10 an hour.
However, I also understand why most business owners are hesitant to outsource this kind of service. There's the difficulty of monitoring the employee's productivity. You could hire someone from a freelance site that can help you get set up an employee monitoring software. With this being installed, it'll be much easier to see your staff's worked hours, sites visited and you can also see his computer screen's screenshots. There's this blog that's got more techniques you can learn from if you're interested of hiring a full time outsourced bookkeeper rather than hiring an expensive and in-house bookkeeper. I just thought to share it with you.