Outsourcing your Bookkeeping is the new black

OH GEEZ... forgot to track all of your expenses this month and now you have a whole "junk drawer" full of reciepts, open mail, and who knows what else? It's okay to feel as if manageing your own books on top of running a whole company is a burden. Some businesses think about hiring internal help to keep their finances on track. But as the business world continutes to evolve we start looking toward efficiency and cost benefits ( This is where my favorite saying comes in " Work smarter not harder". Each year we see more and more busninesses beginning to outsource bookkeeping and here is why:

1. Scalability. Business grow and sometimes become bigger than you could ever imagine. Hiring a bookkeeper for a larger company that has controller oversite allows you to scale your needs without having to train additional help.

2. Lower Cost: When outsourcing your bookkeeping you have already saved approximately 20% just with overhead costs ( Payroll taxes, Benefits, 401k plans, PTO, etc). According to a poll in 2018 a full time inhouse bookkeepers salary ranged from $40,000 - $55,000 and when outsourced their costs decreased to 5% - 15% of that.

3. Maximizing your Resources: For smaller businesses there is also a high chance that you do not need a full time employee to be overseeing your books, or if you do need to hire someone full time who will you have train them? Will they know all of the systems or will you have to send them to a training course? When Bookkeeping is outsourced you free up yourself to spend time on what you do best, RUNNING YOUR BUSINESS.

4. Tax and Audit Ready Financials: Using an outsourced bookkeeper servie allows you to have already prepared financials for your accountants, the IRS, and other institutions making the process smoother and everyone happy. There is no worry or stress over the accuracy or integrity of the data.

No Matter the industry or size of the business, whether you need financial figures for your accountant, year end P&Ls for investors, or just want to keep tabs on your cash flow, keeping on top of your income and expenses is essential and even easier with the help of your outsourced bookkeeper.