Having an accounting professional on your team is an essential component to managing and growing your business. Today, many small business owners try to maintain their company’s books or have an administrative person handle those duties who is not fully qualified to provide the guidance an owner or manager needs. As a business owner, you need a partner who can provide you accurate and timely financial information when you need it so you may effectively manage your business. At Barta Business Group, an accounting and bookkeeping firm in Denver, Colorado, we have compiled a list of the 5 reasons to outsource a bookkeeper for your small business.
5 Reasons to Outsource a Bookkeeper for Your Small Business
Reason #1: More Expertise to Scale With Your Business
The old saying “use the proper tool for the proper job” has never been more appropriate than with bookkeeping. When you outsource the accounting functions, you gain valuable access to experienced, knowledgeable professionals who flex to the growing needs of your business. They can bring to the table decades of higher-level accounting experience which will help you forecast cash flow, anticipate changing needs of your business and avoid costly pitfalls.
Reason #2: Less Overhead Expenses
When outsourcing bookkeeping services, you’re hiring an independent contractor which doesn’t require employee benefit packages, or a 40 hour work week. You can use their services judiciously which makes the expense more variable rather than the fixed cost when you have a person on the payroll.
Reason #3: Accuracy, Responsiveness, and Timeliness
Accurate information, responsive communication and timely financials are the bedrock requirements with financial information for managing your business. Are these requirements currently being attained in your current situation? If not, outsourcing the important financial functions to a qualified professional can immediately level-up these requirements in the first month.
Reason #4: Better Experise for Improving Processes
In addition to better accuracy, responsiveness and timeliness; your accounting consultant can provide expertise in improving processes or providing training to existing employees in the operations or financial cycle. Improving processes and training can result in better employee satisfaction and cost savings.
Reason #5: Better Prepared for Tax Season
When you have a professional overseeing your bookkeeping and accounting functions, you also have more expertise available to take advantage of tax savings and be better prepared for tax preparation season. When the books are maintained on a monthly basis and financials are being reviewed on a timely basis, business owners can be more responsive to making changes and being prepared for any tax advantages.
Ready to Outsource a Bookkeeper for Your Small Business?
Most businesses are great at their craft, but not great at all the financial back of the house. At Barta Business Group, a small business bookkeeping and accounting firm in Denver, CO, our team of bookkeeping, accounting, and finance professions guide business owners in making better decisions so they can focus on doing what they love in their business. Learn more about us by scheduling a consultation with us today.