Six Reasons To Outsource Your Bookkeeping
Updated: Jan 23, 2021
If you are looking at hiring a bookkeeper, maybe because it's time to make a change or are you are finally thinking it's time to get some help you may be interested in our top 6 reasons to outsource your bookkeeping.
Instead of having your bookkeeping services in house or doing it yourself you can outsource your bookkeeping and get back to your passion of running your business. Here are some reasons why you should outsource your bookkeeping.
1. More time
Will allow you as a business owner to finally concentrate on the day to day running of your business. You’ll have more time to do things that will increase and grow your business and get back to the reasons you started your business in the first place. If you do your own accounts, you may end up saving some money, but this doesn’t allow your business to grow and increase its revenue.
Alternately, there will be no more conflict of interest and worrying about confidential information that can be discussed between employees.
2. Save money
Here are just a few ways:
By implementing and systematizing your processes you will save time, increase efficiency, and reduce errors. A full-time bookkeeper is not looking to systematize and reduce their hours.
Reduce wages (and benefits paid) by only paying for what you need.
Reduce equipment and resources – an outsourced bookkeeper does not need a desk or computer.
An experienced bookkeeper knows what they are doing and the most efficient yet accurate way to do it.
3. Less paper
By moving to an online accounting system like Xero with addons such as Receipt Bank to handle your receipts and bills you will no longer need paper copies of your invoices and bills. Everything will be stored securely in the cloud, they will be easier to find and can be accessed anywhere. And finally, it’s better for the environment!
4. Knowledge on your side
An outsourced bookkeeper that is also a registered BAS agent, needs to undergo continued professional development, meaning that you will have someone who is always up to date in your corner. They will know how to access all current grants and subsidies that your business may be eligible for which is particularly important within the current climate.
5. Team versus individual
When you outsource your bookkeeping, you are placing your accounts in the hands of group of staff that work as a team. By outsourcing, there is always someone available to keep your accounts up to date and process your payroll, something that’s not always possible when you employ and in-house bookkeeper.
6. Option to expand
Finally, outsourcing your bookkeeping allows you to grow your business or cut down on spending, having a reliable team on your side, providing you with various ideas and alternatives to help you achieve your goals. Outsourcing provides flexibility that in-house bookkeepers just can’t provide.
At Vivid Enterprise Solutions we have helped many businesses streamline and systematize their accounts to save you time and help them grow. If you think we may be able to help you do the same, please reach out to us.
Book in a free consult or give us a call on 03 9068 5636