5 Ways Using a Bookkeeping Service Will Benefit Your Company

Utilizing the services of an external bookkeeping service rather than hiring a full time employee to handle the bookkeeping for your company can be an enormous benefit.

Here are 5 reasons you should consider it:

Reduced Cost

Using a bookkeeping service can reduce costs in many ways. First, you won’t have to deal with payroll taxes, vacation, health insurance or other benefits for another full time employee. Second, the fees you pay for a bookkeeping service will most likely be much lower than the salary you’d pay an employee. Third, an in-house bookkeeper may be afraid to tell you the truth of the financial situation and hide problems from you because they are afraid to lose their job. An outside service can tell you what you need to hear rather than what you want to hear (or they want you to hear).

Greater Stability for Your Organization

No longer will you need to worry about what will happen if your bookkeeper decides to quit one day or is offered a better job. Whatever the reason, the sudden loss of a bookkeeper can throw your finances into chaos. Bank and credit accounts are out of balance. Bills might not be getting paid. Invoices aren’t being sent out. Other people have to stop doing their jobs to try to figure out what to do about the books. It’s a mess!

Outsourcing your bookkeeping needs could mean that you never have to hire again. Bookkeeping services have a vested interest in long-term business relationships and rarely drop clients.

Unbiased Opinion

An external bookkeeper can benefit your organization in ways that you might not even imagine. A bookkeeper who is an employee will often have a personal or emotional involvement with the organization that may cloud judgment and result in problems being overlooked or poor decision making. An external bookkeeper will be able to look at your financial situation with fresh eyes and will likely be able to offer fresh insights and options you hadn’t considered. It might be good new or it might be bad news, but either way, you need to know the truth and they can help you see it.

An Expert Who Specializes In Your Industry

A general bookkeeper can do the basics of the job adequately, but a bookkeeper who specializes in your industry will be uniquely qualified to help your organization. They know your language. They know the issues and challenges that are unique to your industry and be able to help you find the unique solutions you need. A specialized bookkeeper can become a valued adviser and a great asset to your organization.

Focus on Your Mission

Using an external bookkeeping service will free you up to focus on what is most important in your company and give you peace of mind to free up your personal time, too. Spend your time at work doing more of what you are really good at and know that the money matters are being handled well. Keep your free time truly free from worry when you have the peace that comes from the knowledge that your books are in order and you have more of the vital information you need to make the decisions you need to make.

If you are interested in working with an external bookkeeper who can help you in all these ways, contact me for more information.

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