Small Business Bookkeeping – When to Outsource?
Running a small business can be [read ‘is’] all consuming. You have to wear so many hats that’s it’s no surprise if [when] something gets missed. Sound familiar?
But, as the business owner it’s only natural to want to manage everything yourself; marketing, sales, accounts, customer service etc. If you’re in the start-up phase, then I suspect you will definitely be attempting this yourself. However, unless you have been trained or have experience in working in any of these industries, it can not only be time consuming, expensive (ask yourself how much is an hour of your time worth?), but also frustrating and demoralising.
So, the question is: ‘Why should you outsource your bookkeeping? And when should you do it?’
8 Advantages of Outsourcing your Bookkeeping
We’ve put together a list of the 8 main advantages you gain when you choose to outsource your bookkeeping to The Finance Department.
- Get up to the minute reports at the touch of a button – AND always be sure that the information is correct
- You will discover where money is being made and lost in your business allowing you to adjust your business strategy
- Implement a process for credit control and debt chasing – Xero automated invoices can assist with this
- Outsourced bookkeeping allows you to keep on top of the books without paying for an in-house salary
- You only pay for what you need and use
- You submit your VAT returns and company accounts on time
- Stop feeling guilty about the bookkeeping being on your ‘to-do’ list and feel confident it’s being taken care of
- Expert advice to help grow your business
Our team of bookkeeping and accounting specialists have many years of experience and can come in and take charge of your finance function relieving you, or any managers in your business, from the stress and allow them to concentrate on what they’re best at.