We have written a lot of articles about outsourced bookkeeping and have compiled an eBook titled 10 Reasons Your Business Should Outsource Its Bookkeeping. Outsourced bookkeeping is what we do so obviously we talk about it a lot. When you outsource your bookkeeping you should make more money. You should delegate and outsource those tasks that are not your strengths and focus on what you are good at. If you are not good at selling the service or product that you offer then you might be in the wrong business. As we continue to work with new clients we are always identifying new benefits to outsourcing your bookkeeping.
When you use an outsourced solution your small business bookkeeping should always be attended to no matter what. There are no sick days, holidays or vacation days when you outsource your bookkeeping. Our bookkeeping services are meant to provide service to our clients no matter what. If your primary bookkeeper is sick or on vacation we have another person ready to step in that already understands your account and your needs. We cross train our employees on multiple clients and set up bookkeeping systems that are designed to be handled by anyone internally at our company. When you outsource your bookkeeping you should never be left without a bookkeeper.
Higher Level Employee
I would expect a much higher level bookkeeper when you outsource your bookkeeping. We make it very clear from the beginning that we are not $15/hour bookkeepers. If you are looking for that level of employee then that is not us. Good outsourced bookkeeper's make money by offering a higher level of service in an efficient manner at a premium price. Overall the business owner should reap the benefits of a higher level part-time employee. Many small businesses hire a bookkeeper because they think they need one. While it is true that most businesses do need a bookkeeper, many do not need a full-time in house bookkeeper. I discovered that most small businesses hire a full-time in house bookkeeper for peace of mind, despite the fact that they only had part-time needs. As funds got tighter for small businesses and technology got better they realized they could acquire a higher level bookkeeper at a lower rate and still meet the needs of their business.
Benefits Of External Contractor
There are a lot of benefits to having an external contractor instead of an internal employee that you may not be considering. The obvious benefits are not having to pay a salary or vacation and sick time. Another thing to consider is that it is much easier to let a contractor go than an employee. Long-term internal employees often come with emotional ties that make it difficult to make the right decision of letting them go. With a contractor you may have the emotional tie but hopefully it is not as strong as an internal employee that you see every day. You also won't have to deal with worrying about paying unemployment insurance claims with an outside service as opposed to an employee. One more thing to think about is confidential information with an employee as opposed to a contractor. Does it make more sense for an internal employee to have vital information or an external contractor? An internal employee probably has a lot of interaction with your other employees where a contractor would have little to none. It might make sense to keep your financial information in the hands of the right people.
Outsourced bookkeeping has a lot of benefits that you may not have considered. Some businesses can't afford an outsourced bookkeeper and handle the bookkeeping themselves. Other businesses' needs exceed those that can be provided by an outsourced bookkeeping service. You need to consider both options to decide what is best for your business.