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Should You Hire a Bookkeeping Team When Your Business Grows?
If you’re in the fortunate (and frankly, exciting) position of owning a small or mid-sized business
that is expanding, then you might be noticing that not only is there a lot more accounting work to
be taken care of, but that you have less time available to complete it all. Even if you already
employ a part time bookkeeper and accountant, they may be struggling to keep up with the
workload, and if this continues, your business will ultimately suffer.
If you want your business to continue growing, or at least maintain its current financial position,
then you’ll need to urgently address any bookkeeping concerns that you have, and consider the
fact that outsourcing might be a more cost-effective solution than employing your own in-house
Why outsourcing could be more efficient than a bookkeeping team:
As your company grows, managing day-to-day, weekly and monthly bookkeeping tasks will
undoubtedly become more difficult as time goes on. You may be able to scrape through on a
wing and a prayer for a while, but you’ll need to put a concrete plan in action if you want your
business not only to survive, but thrive. If you’re not familiar with outsourcing and the many
benefits it can bring to a company, then you may not know that instead of simply costing you
money and being an added expense you can’t afford; they invariably end up saving you money
and helping your business to gain valuable financial insights that it might not otherwise have
been privy to.
What can an outsourced accounting provider give you that a bookkeeping department
Perhaps one of the biggest advantages of outsourcing your accounting needs is the level of
expertise that you gain access to. Not only do you get a team of qualified accountancy experts at
your disposal virtually around the clock, but you benefit from their collective wisdom,
experience and often their software expertise, too.
Secondly, this is all available at less cost than hiring a bookkeeping department, not to mention
the fact that you don’t have to recruit anyone as a team of bookkeeping and accountancy
specialists have already been vetted and are sitting, waiting to work for you.
What are some of the services provided by outsourced accounting?
Accurately recording invoices, payments, statements and much more
Preparing checks to be signed and paying bills
Weekly AP and AR reports
Prepare spreadsheets for payroll
Monthly P and L and so much more
For more advice and guidance about outsourcing your bookkeeping and accounting needs -
especially if your business is set to grow, or has already expanded - talk to a professional
outsourcing company today.