Accounting and bookkeeping are certainly among what we’d have to count as essential elements in the life of your business. But they’re extremely time-consuming, and can really put a strain on you as the business owner and your staff. So you may be considering outsourcing your accounting and bookkeeping, and are contemplating its potential benefits. Let’s look at some of those advantages.
1. Outsourcing frees up your time
Time is the one commodity that you need to run a business that you simply can’t make more of, and I’m sure that there’s an ever-growing list of the demands on your time. Accounting and bookkeeping take up time, on an increasing basis as your business grows. You can, however, outsource it all to a virtual accountant who will take all of that work off of your plate, and leave you more time to focus on the growth of your burgeoning company.
2. Outsourcing saves you money
We believe that there are plenty of benefits to outsourced accounting, and don’t like to think of it as a bargain basement solution. But it’s a fact, nonetheless, that it’s a cost-saver. In almost every case, outsourcing to a virtual accountant is going to be more cost-effective than hiring a staff member to do your bookkeeping. You pay for exactly the services you need, when you need them, without having to pay a staff member’s salary and benefits, not to mention a number of other expenses like office space, computer, etc.
3. Diverse expertise at your fingertips
While you may be considering the possibility of hiring a bookkeeper to work in-house, you’re probably not yet ready to discuss staffing an entire accounting department. When you work with a virtual accountant, though, that’s exactly what you get: a full team of experts with diverse backgrounds and skills. While the bulk of your financial work may be straightforward daily / weekly bookkeeping routines, there will most likely also be times that you need other accounting services. When those situations arise, the right professionals with the experience and expertise you need will always be at your disposal.
4. Virtual accounting grows with you
Technologists like to use the term “scalable” to describe something than can expand or contract as needed. Virtual accounting is definitely a scalable solution. We hope and expect that your company will grow, and when it does, you may outgrow the original solution we designed with you. If you were handling your books in-house, you’d need to recruit, hire, and train another staff member or two, and get them set up with furniture, computers, and so on. That’s no problem when you outsource your accounting. We’ll add additional members to the team assigned to your books as needed. The same goes for the times when you have increased needs because it’s your busy season, or any time you find yourself with a heavier workload.
