Saturday, March 7, 2015

5 Reasons to Outsource your Business Bookkeeping and Accounting

Most small business owners are not accountants and would rather spend their time working toward the building of their business rather than being bogged down with bookkeeping and record keeping tasks. Before they realize it, too much time has passed and the bookkeeping/accounting has piled up and becomes a hassle -- resulting in unnecessary stress for the small business owner.

This mold can be broken by simply outsourcing the bookkeeping/accounting needs to a professional - a bookkeeping and accounting professional. This specialist enables the small business to run much smoother and profitable while offering the owner the much needed peace of mind that their bookkeeping and accounting is balanced and accurate.

Outsourcing the bookkeeping and accounting is a smart way for the business owner to delegate these very important tasks in order that they are completed timely and accurately. The following are 5 advantages to outsourcing these tasks:

Saves Time - outsourcing the bookkeeping and accounting frees valuable time for the business owner allowing the focus to be placed on the daily business at hand.  The last thing that a business owner wants to do is the bookkeeping at the end of a long day. Outsourcing keeps the books balanced accurately and timely; saving the business owner much needed time at the end of the day.

Saves Money - the professional bookkeeper/accountant saves the business owner a great deal of money especially compared to the in-house employee, which costs the business a larger expense not only the salary of the employee, but the costly employee benefits and taxes that the business is responsible for as well. The business bookkeeping and accounting needs are met at a much reduced cost, while saving money that could be used to promote and expand the businesses growth. Additionally, outsourcing to a professional bookkeeping/accounting practice saves the small business money compared to a higher priced CPA firm.

Access to Specialized Staff & Top Notch Accounting Systems - tax laws and regulations are constantly changing in which business owners do not have to be concerned with when outsourcing their bookkeeping. The business owner has access to a full staff of bookkeepers and accountants who specialize in all facets of business accounting, allowing the business to grow and succeed.  The professional bookkeeping and accounting firm affords top notch accounting systems along with the knowledge; thus the business is in the hands of the top accounting tools in the industry.

Helps the Business to Grow Successfully - a full business analysis, with detailed management financial statements, provide the owner the key tools to position their business and guarantee its success and growth as compared to an in-house employee who may not be able to provide the owner with the necessary information in which to base important decisions.  Additionally, with the outsourced accounting controls in place, it keep the checks and balances intact so that the business owner does not lose anything due to employee mishandling of accounting measures that can be costly to any business, or create loses due to employee theft.

Ready at Tax Time - outsourcing the business bookkeeping and accounting is a smart measure as it ensures the bookkeeping and reporting is balanced and accurate; thus the business is prepared for tax time as opposed to the business owner having an inaccurate accounting of their business at the end of the year. The professional bookkeeper and accountant team has all of the necessary financial reports ready to make tax time a breeze; offering the business owner the peace of mind knowing that their business meets full tax compliance.

Outsourcing the business accounting to a professional bookkeeping and accounting practice makes sense by both eliminating the expense of in-house employees as well as an expensive CPA firm; saving money and time while growing the business into a successful endeavor for the small business owner.

Balanced Bookkeeping & Accounting, LLC  --  (918) 286-2494