Why Small Businesses Should Consider an Outsourced Bookkeeping Provider
While the economy is showing signs of improvement, the most recent employment data is still indicating that many companies are worried about their future and are not hiring as many full-time staff members as was initially anticipated. Some of them are employing temporary workers until they are absolutely sure the economic improvements we are witnessing, are sustainable. If your firm can relate to the statements above, then you might want to think about using a bookkeeping services provider.
Below we are going to let you know some of the tasks these types of organization are capable of handling, as well as a few of the benefits your company might derive if it did decide to go down this path.
# 1 – All Bookkeeping Duties
As you might suspect, this type of company is more than capable of performing the job of a full-time bookkeeper. However, there are a few big differences between the two, and most firms will benefit because of them. First, most bookkeeping service providers are managed directly or indirectly by a CPA.
That means that the bookkeepers working on your account will have access to an expert whenever they have a question. In addition, a CPA is able to produce a company’s monthly financial statements regardless of how complex they might be, which most bookkeepers may not.
# 2 – Payroll
Many companies already outsource their payroll needs, and some of the firms they use to perform this job are quite expensive. Virtually every bookkeeping services provider offers payroll services and most of them are less costly when compared to a standalone company that performs the same task.
# 3 – Improved Company Information Security
Most small to medium sized businesses use an in-house backup system to safeguard their most important information. There are all kinds of problems that can occur when a firm backs up their data and stores it in the same location as the original information. Some of those issues are natural disasters like hurricanes and tornados, theft of their computer equipment, or even a fire at their facility.
Most bookkeeping services providers use a highly sophisticated accounting information system that automatically backs up each day’s data on another computer located somewhere else in the world, other than in their office. What that means for their clients is that they will always have access to their most important information regardless of what takes place at their facility, or in their community.
# 4 – Enhanced Reporting Possibilities
The accounting information systems these types of firms use are not only extremely expensive, they are also very versatile and can manipulate the data that is contained within them in almost an endless number of ways. What that means for their clients, is that they can request reports that are formatted in a fashion that the decision makers have never had access to in the past.
If your firm would like to keep their fixed costs as low as possible, while improving its overall quality, you might want to look into hiring a bookkeeping service provider.