If you’re like many other growing businesses, you likely operate with limited resources. This means employees often have to maintain attention on a variety of tasks, and wear multiple hats each day. As your business matures, there will come a point where certain operational roles, like bookkeeping, need someone devoted to them entirely. Rather than hiring a designated full-time bookkeeper, businesses choose to outsource these duties to third-party service providers. Read on for 5 important reasons why outsourcing your bookkeeping can change the game for your business.
Easily scale services up or down depending on your needs
With an outsourced bookkeeping company, you can increase or decrease the services you receive depending on business demands. This kind of flexibility eliminates the need to hire (or fire) and train additional staff members, allowing you to pay for exactly what you need.
These services are also there when you need them. While an employee may take a vacation or be out on leave, a third-party bookkeeping service has you covered any day of the year, and will never need to take a sick day.
Keep information confidential
With bookkeeping done off-campus, you won’t run the risk of the wrong person viewing confidential documents. Your important information is handled by trusted professionals with the proven knowledge and experience in managing sensitive data; so you won’t hear water-cooler gossip about revenue generation (or lack thereof!).
Save money on operational costs
With a single monthly payment, your bookkeeping is taken care of. You eliminate the need to pay for an in-house bookkeeper to keep track of cash flow and expenses. This means you save your business the cost an employee’s salary and benefits, office supplies, employee training, and more.
Leave your bookkeeping to the experts
Unless you have experience bookkeeping, chances are you will need help balancing your accounts each month. Third-party bookkeepers are experts in their field. They know the ins and outs of how to keep your accounts accurate and up to date. Rather than dividing the concentration of your employees over different areas, use a third party provider that simply works on keeping your books. This allows your employees to stay on-task and prevents possible mistakes from inexperienced personnel.
Save time, especially during tax season
The old saying goes, “time is money.” This is especially true with bookkeeping! Working with a third-party bookkeeping service saves you time carrying decimal points and allows your employees to get back to driving business initiatives. Best of all come tax season, financial documents are easily prepared by experts, making sure your hard-earned money gets to the right people—right on time.
Depending on your provider, you can add on additional services. Stellar Bookkeeping and their parent company, Stellar Assist, Inc., helps their clients by offering bookkeeping services, as well as administrative and human resources responsibilities. Time saved by outsourcing these operational roles allows you and your employees to better focus on important company goals.
To learn more about how Stellar Bookkeeping can help you accomplish your company objectives, reach out to us at info@stellarbookkeeping.com or call (818) 962-5777 today!