Benefits of Outsourcing your Bookkeeper

January, 9 2017 | Devine Consulting LLC | Bookkeeping | Accounting

 

 

Every business owner knows bookkeeping is a tedious, yet crucial part to a successful business. Bookkeeping records and sorts the company's financial transactions through several accounts including various expense accounts, accounts payable, accounts receivable, etc. These amounts are then shown on the company's financial statements and other reports necessary to the business. Most entrepreneurs have a DIY (Do It Yourself) mentality and feel as though they can take on these daunting tasks without hiring a professional, especially those with a startup businesses. That may be true for a little while, but eventually the business will begin to take off which means processes and reports will get more complicated. Not to mention a business owner will have less time to keep up with the monotonous day-to-day bookkeeping tasks.

 

Your next thought may be to hire an in-house bookkeeper. While that may seem like the next logical move, hiring an in-house employee can be costly and sometimes time consuming. Consider outsourcing a bookkeeper, that is, hiring a firm to do your back office work so you don't have to. Take a look at some of the benefits of outsourcing your bookkeeper. It could be just what your company needs.

 

1.       Efficiency - When you outsource your bookkeeping service, you pay for exactly what you need done - your bookkeeping. Hiring an in-house employee requires benefits and full or part-time wages. You also don't have to worry about if the employee is doing something else while on the clock. Outsourcing a bookkeeper eliminates distractions by taking them out of the day-to-day functions of an office. People coming and going can be a bit of a distraction. The outsourced bookkeeper will be 100% focused on what you need done.

 

2.       Access to Top Accounting Software - Bookkeeping firms normally have access to the best accounting systems on the market and know the program like the back of their hands. The firm can help choose the program that best fits your business’s needs, and the best part is you don't have to do any of the set-up work. Not to mention, if you purchase a program from a bookkeeper that is a certified vendor, you will more than likely get a discount on the product. What do people like more than saving money? 

 

3.       Team of Professionals -  Have you ever heard the phrase "two heads are better than one"? That's what working with a bookkeeping firm is like. You have a team of knowledgeable staff members working on your finances instead of a single person. Firms can work seamlessly with your in-staff personnel that do the day-to-day bookkeeping. The in-staff personnel can continue with the daily tasks while the outsourced firm completes more of the complex reports and reconciliations. There will also be a CPA (Certified Public Accountant) on staff that oversees the bookkeeping team making sure all reports and statements are correct.

 

Whether you have a startup business, or are a seasoned entrepreneur, outsourcing a bookkeeping firm will help ease your mind and will possibly be the catalyst for your company’s growth.

Devine Consulting embodies all of what is illustrated above and so much more. If you're considering outsourcing your bookkeeping, do not hesitate to contact us. We will be more than happy to set up a free consultation so that we can better understand what you are looking to have accomplished. After all, your success is our business. Contact us at (281) 545-4000 or accounting@devineconsultingllc.com.

 

 

 

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Bookkeeping Options for Small Business Owners

Bookkeeping Options for Small Business Owners

August, 25 2016 | Devine Consulting LLC | Bookkeeping | Accounting

 

 

Let’s face it, business owners do not start a business to be inundated by the bookkeeping and accounting process.  They start a business to do something that they have experience and a passion for.  Unfortunately, the accounting process cannot be avoided.  Accurate financials are important when it comes to critical business decisions.

How can one ensure they have accurate financials?  There are multiple options for bookkeeping and accounting help depending on time and budget. 

1.       TrainingIf a business owner wants to handle the bookkeeping and accounting on their own, sometimes proper training with an accountant can be helpful.  They can be trained on how to properly categorize expenses, income, liabilities, assets, cost of goods or services sold, etc. This training can be helpful to ensure the balance sheet and profit and loss are accurate which in turn will be helpful with those business decisions. 

2.       Hire a Bookkeeper Yes, hiring someone to do the bookkeeping and accounting can be costly.  However, it will free up a business owner’s time to focus on the business.  When hiring a bookkeeper, it is important to know the extent of their experience with accounting and with the software that is currently being used.  A bookkeeper without the proper knowledge can end up being costlier in the long run and should be avoided if possible. 

3.       OutsourcingBookkeeping and accounting services can be outsourced with many companies to help alleviate the work load on the business owner.  This does not mean that all bookkeeping and accounting functions have to be done by the company hired.  Many parts of the process can be done by the business owner or someone else within the company such as paying bills, invoicing customers, etc., while the company hired can help with the rest. 

Devine Consulting is able to help with all of these options or provide more information if you or someone you know is interested.  Our team has experience with many different types of businesses and can provide a free consultation to review your current situation.  Remember, accurate financials are key to a business’ success.  Let Devine Consulting help your business!

 

 

 

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