Close QuickBooks and back away from the Excel spreadsheet! You need to outsource your company’s bookkeeping.
Let us explain.
We’re not here to knock accountants. Heck, just the opposite! At Edge Financial, we geek out about numbers. We love a good set of company books, and we consider bookkeeping to be an art.
Accounting is hugely important, no matter the size of your business! And as every business grows, so do its accounting needs. But you may be surprised at how much time and money it’s costing you to manage them in house.
In our expert perspective, 2019 is the best year yet for you to outsource your company’s bookkeeping.
Whether you’ve had a bookkeeper for years whom you’re just not on the same page with anymore, you’re worried your accounting department has grown too large, or you’re brand new to all this, now is the time to make a change.
You’ll be glad you did.
We may love bookkeeping, but we’re realists; we understand it isn’t for everyone! If you haven’t yet considered outsourcing your company’s books, here are five great reasons to consider.
By outsourcing your books, you unlock a huge potential for savings.
Think about the costs associated with just one in-house bookkeeper:
Regardless of the size of your company, you will pretty much always save money by outsourcing your bookkeeping. Rather than adding person after person to your accounting team, you can instead minimize additional overhead and recruiting costs that come hand-in-hand with every new employee.
Many small businesses have accounting needs but not enough of them to warrant a full-time accountant. Instead, they saddle an assistant, office manager, or human resources professional with the task.
Bringing on a third-party is the best way to streamline your accounting processes and give your team the opportunity to focus in on what they really do best. Does your operations manager really need to spend their time focusing on handling everyone’s paychecks? Or would their time be better spent actually contributing to operational improvements that will help your company grow?
When you outsource your books, you can reduce your company’s waste—a lot.
Paper and file space may seem minor at first, but eliminate them now and you’ll start a ripple effect that only grows wider over time. Here’s an example:
When a client hires us to handle their books, they release their records to us. We manage everything, help them get set up with access to credit card and bank statements, and streamline everything digitally—which means our clients are no longer printing and mailing statements or filing old reports.
By switching to an external bookkeeping team, you reduce your paper waste, and therefore, your environmental impact. Not to mention you save money on paper and ink!
As businesses grow, so do their needs. Outsourcing your accounting, billing, and bookkeeping responsibilities gives your company the ability to grow faster.
Most companies have experienced a period of rapid growth, a month or a quarter that they really can’t keep up with. Unfortunately, when these periods happen, your books take a hit. The result: To keep up, your team either has to restrain some of that exciting growth, or they need to get used to long nights, weekends, and burnout.
A good bookkeeper adjusts accordingly while minimizing your team’s need to work nights and weekends. Your business is handled behind the scenes, no matter how big it gets.
When you outsource your bookkeeping needs, you put them in the hands of a dedicated team of experts—not the person who handles your morning coffee order.
(No offense intended. They’re great and so is coffee!)
Our point here is that managing your own books is a recipe for errors. Either you need to bring someone on who is professionally trained—which we covered in our first point—or you sacrifice the quality of the work. And that’s the last thing you want when it comes to your accounts!
By outsourcing your books, you gain a guarantee of the quality of work. And with that comes peace of mind.
This is your year, and it’s also the right year to consider outsourcing your books.
We may be biased, but we know we’re up for the task. We’ve handled the books, expenses, reporting, audits, taxes, and just about every other accounting need for thousands of businesses. Frankly, our work speaks for itself.
If you’re planning to outsource this year, or you’re already making plans for next year, get in touch. We know how to ask the right questions and help you put your books in the right hands.