Stay updated on all areas of tax filings and business processes affected by COVID-19Learn more
Debunking The Myths About Outsourced Bookkeeping
There are many myths surrounding the outsourcing of such vital business services as bookkeeping, and here are just a few of the ones that are simply not true:
When you outsource, you lose control:
Contrary to what many owners of businesses fear to be true, when you outsource your company’s bookkeeping duties, you’re in fact gaining more control as you’re in a better position to assess your goals and overall financial position. Having an outsourced bookkeeper keeps you right at the helm of your business, and when they give you regular access to timely and accurate financial data, you can make so many more educated decisions.
Outsourcing is too expensive:
While it is of course true that you must pay to outsource your bookkeeping duties, it’s perhaps more important to consider what you save when you do so. Not only are you saving valuable time that you could be spending more wisely, but you may even save money in the long run as you’re able to make more informed decisions related to the financial aspects of your business.
Business security may be compromised:
It’s only natural that as a business owner, you’ll be worried about the confidentiality of your company accounts, however, it’s important to keep in mind that professional outsourcing firms use the very best technology to help them keep all data secure, and it’s in their interests as well as yours, to keep all data safe.
The outsourced bookkeeper is not trustworthy:
This statement is as ridiculous as it sounds! The professionals who are now handling your bookkeeping duties are just as concerned about customer service and profitability as you are, the only difference is that they have a naturally objective approach. This approach, far from being a negative factor, is a hugely positive one and puts them in a fantastic position to spot any unusual business activity and suggest more effective ways of running your finances.
Outsourcing may take up more time:
This is another, equally ridiculous statement and professionally outsourced bookkeepers do the exact opposite, in fact. As they know their work inside out, all you need to do is let them do their job and reap the benefits afterwards. Operating electronically enables most outsourced bookkeepers to take advantage of cloud-based solutions to quickly and conveniently store and exchange financial data and other relevant information between client and service provider. Your job is made much easier and you’ll have much more time free to focus on other, equally important aspects of your business.
Hiring a bookkeeper may be something that as the owner of a small business, you think you need to do, but outsourcing it gives you so much more flexibility and the option to use their services as and when you wish. A full-time bookkeeper is a big financial commitment, and when you try to run it yourself, in-house, it can take up a lot of time. Outsourcing such important duties as bookkeeping has never been easier, and most businesses will find it advantageous to use their services.