Why outsourced Bookkeeping for Small Businesses?

If you don’t have the time or in-house resources to reconcile your books, an outsourced bookkeeping team may be your best option. They offer professional bookkeeping services so you can keep your books in order and finances in good shape... are are also cost effective! Here are some of the benefits you can expect if you invest in outsourced bookkeeping. 

Save Money

A full-time bookkeeper can become expensive. You’ll have to pay them a competitive salary and take care of their health insurance, 401(k), PTO, and other benefits. You can receive the same services that a full-time bookkeeper would provide at a fraction of the cost. 

Save Time

They can save you time in addition to money. Since they’ll log, analyze, and reconcile payments on your behalf, you’ll be able to focus on higher level tasks that improve your bottom line. You’ll be able to hand bookkeeping to professionals who specialize in it.

Reduce Errors

When you opt for an in-house bookkeeper, you’ll likely face a margin of error while they settle into their duties. By outsourcing these services, you can alleviate this issue and open the doors to experienced professionals who promise efficiency from the start. On top of this, you'll get access to a team of accountants, who span the range from bookkeeping through controllership.

Receive Detailed Financial Reports

They do more than simply enter data and keep track of your books. They provide small business financial statements and other detailed financial reports. These reports can give you valuable insight about your business.

Make Smart Business Decisions

By investing in outsourced bookkeeping services, you can receive the data you need to make smart decisions. You’ll know which customers are worth investing in and which ones aren’t worth your marketing spend. You can also figure out when you need new employees and how much you can pay them. 

Simplify Tax Season

Tax season can be overwhelming for small businesses. Outsourced bookkeepers will prepare your books for tax season throughout the year. You won’t have to scramble last minute because you’ll have the information you need to file right away while reducing your tax burden as much as possible. 

Access Advanced Technology

The latest accounting systems may be too expensive for your small business. The good news outsourced bookkeepers can invest in them on your behalf. You’ll enjoy their expertise paired with technology that saves time and money while ensuring accuracy and efficiency. 

Scale

With outsourced bookkeeping services and the information they bring to the table, you’ll have a good idea of when to expand your operations or downsize. You’ll be able to plan for the future and understand what you need to do to meet your business goals. 

Are you interested in learning more about outsourced bookkeeping for small business? Fill out the form below for a free meeting with the GrowthLab team!