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Why Outsource Bookkeeping or Bill Pay?

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Why should we Outsource our bookkeeping our bill payment?

Bookkeeping is one of those tasks businesses usually try to keep in-house as much as possible. Whether it’s the business owner handling it, or the task has been delegated to a better-trained team member, many business owners like to see the finances handled by someone on their own payroll. While I understand the desire behind this, there are also benefits that come with choosing to outsource your bookkeeping.

  • TIME! - This point is especially true for business owners trying to juggle running a business, managing a team, and handling the business finances. The most important ingredient in good bookkeeping practices is time. It takes time to stay on top of receipts, banking, and recording all your financial data. Handing those tasks over to a bookkeeper will take a huge load of work off your plate

  • SECURITY, PRIVACY, and RISK! - This should actually be the number one reason to outsource bookkeeping and bill payment.  Estimates show that employee theft costs employers over 1 billion dollars annually.  Most of this fraud relates to funds theft and check fraud.  Almost seventy percent of the cases are reported by small businesses.  Most small businesses carry little to no employee theft insurance and it is almost impossible to carry enough coverage for this type of fraud.  BeanCounters carries $1 million of bonding and bookkeeping insurance and uses the latest technology to make sure our clients our safe.  Our team does not use blank check stock for bill payment which protects your bank balance.  Theft occurs in over 35% of all small businesses.  Don't let your business fall victim.  A simple Google search for employee theft or bookkeeper theft will bring up hundreds of thousands of results.

  • COST SAVINGS! -  Paying full- or part-time payroll for a bookkeeper will ultimately be more expensive than hiring a contracted professional to outsource your bookkeeping. One number suggests the actual cost of an employee is one and a half times their hourly wage whereas a contractor doesn’t come with those hidden expenses. You will only pay for the services you actually need, and chances are, someone whose entire business is built on tracking finances will be far more efficient at bookkeeping than you or your in-house bookkeeping staff.  

  • FOCUSED WORK STAFF! - By eliminating the distractions of the office from their jobs, places that take bookkeeping can provide clients with more focused work.  It's hard for a bookkeeper to do their job s around the hustle and bustle of a business.

  • EXPERTISE! -  Handing your business finances over to a bookkeeper also comes with the added bonus of having an expert at your service anytime you need it. The world of business finances can be confusing and full of complications and unexpected problems. It will greatly be to your benefit having a reliable resource on call.

  • FINANCIAL FLEXIBILITY and SCALABILITY! -  Businesses grow and change – sometimes quickly! An outsourced bookkeeper can help you find creative ways to accommodate growth or deal with cutbacks as they happen. This scalability allows your business to stay nimble and flexible so the changes (even the good ones!) don’t become unforeseen setbacks.

  • FEWER MISTAKES -  No one is perfect, but the odds are a professional accountant will have higher standards of quality and greater attention to detail, so mistakes happen less often. And, when they do, a professional will have an experience base allowing them to more quickly identify and rectify any errors.

  • PEACE OF MIND -  Business finances aren’t something you want to leave up to chance. Choosing to outsource your bookkeeping to an expert gives you confidence your financials are being handled with the utmost integrity and excellence.

BeanCounters offers many flexible bookkeeping solutions.  These solutions start at around $200 per month depending on the size of the business.  Complete the form below for a free bookkeeping quote.

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