Bookkeepers, also known as bookkeeping clerks, are responsible for an individual or an organization’s financial account. They produce financial statements, particularly for managers and supervisors, and post debits (costs) and credits (income).
They’re different from accountants since they aren’t responsible for analyzing, classifying, interpreting, reporting, and summarizing financial data. They only perform the record-keeping aspects of accounting and makes sure that each data is represented correctly. Their job can range from basic tasks (check registers) to complex ones (ledgers and journals of large companies).
A bookkeeper’s job is more challenging than it looks, so it’s best to find the right one for your business. While it’s a good idea to have someone be part of your in-house team, it would be best if you could outsource as well. An increasing number of small to medium businesses are turning to external accounting firms to handle their needs for bookkeeping and controller-level services. By doing so, many of them have reported an increase in sales and revenue.
Here’s why hiring a professional accounting firm’s bookkeeper can help your business to grow faster:
You Focus on Growing Your Business
When an operational element of the business is outsourced, it gives you more time to be hands-on in running its every aspect. Like when you first started, you have more time to overlook the entire operation or look for new customers. You can even do follow up calls to existing clients by yourself, assuring them that you are on top of every transaction.
You Have Less to Worry
Outsourcing a bookkeeper means that you don’t need to hire accounting personnel who will stay in-house. It’s that simple. Less personnel to hire could mean a big reduction on manpower expenses, not to mention the expenses for training and seminars, paid leaves, overtime pay, and other premiums.
According to studies, you can save about 30% to 50% allotted for these items when you outsource your accounting needs.
You Won’t be Caught Off-guard with Surprises
The company’s operations could suffer greatly if someone unexpectedly resigned from their post. This is especially true for small and medium businesses that don’t have additional manpower who can immediately replace an empty position.
By outsourcing accounting jobs, you can continue your business as usual and you don’t need to worry about resignations from your accounting team. Reports will always come on-time and in order. All you have to do is to give them a call.
You’ll Know the Latest Accounting Updates
Every now and then, a new set of rules may be released or perhaps a new accounting system becomes available. Accounting firms are in charge of their internal affairs, whether acquiring a new system or sending their bookkeepers to seminars and training, so you don’t have to worry about such additional expenses.
Looking to reduce your operational expenses yet still get the same result? You should consider outsourcing your accounting tasks. It’s cost-effective and guaranteed up-to-date on the latest accounting tools and laws. More importantly, you have one less big thing to worry.