07 May 2007 | Comments | Book Reviews | Comments feed

Bookkeeping help for small business - Pros and Cons

Outsourcing bookkeeping is a new concept for most people. Let’s looks at the pro and cons:

Pro:

1. free your time to work on more productive tasks. – as a businessman or entrepreneur, our main job is to plan and grow our business, not doing bookkeeping. It is a tedious work and we should just leave it to other people. This allows the owner/management to focus on the core growth activities of the business

2. Upgrade the quality of your bookkeeping department while saving costs! - Outsourced bookkeeping allows you to replace the salary, payroll taxes, fringe benefits, worker’s compensation insurance, accounting software, office space and other costs associated with an in-house employee with a controlled monthly fee. However, you can save money by outsourcing because you won’t be paying for employer payroll tax expense, workman’s compensation and general liability insurances, vacation time, sick time, health insurance and other benefits a good full time bookkeeper will expect from his/her employer. There will be no recruiting, interviewing and training costs for start. And if you should find yourself unhappy with the services there will be no additional recruiting, interviewing and training to replace your bookkeeper.

3. Additional part-time controller/advisor - as a small business, you need the services of a part-time controller oversee the financial operations of your company or provide analysis to special project situations. Great outsourcer bring you this extra service mostly at no additional charges.

4. Outsourcing gives your company access to a higher level of expertise than you normally could afford. A highly talented accounting department is staffed with highly qualified accountants. Outsourcing to a reputable service provider lets your company access the right amount of each level of talent needed throughout the year to effectively give you timely transaction processing and meaningful financial reporting and analysis.

CON: Outsourcing costs money

You can try Quickbooks.. Learn why you should outsource your bookkeeping to them.

This post is sponsered.