Why You Should Outsource Your Bookkeeping Services to Online Bookkeeping Inc
Quality – There is a shortage of qualified bookkeepers. I cannot tell you the number of times that I have talked to a business owner that hired a bookkeeper who claims to be knowledgeable in an accounting software only to find them woefully lacking in bookkeeping skill, accounting software knowledge, or both. Sound familiar? We take your bookkeeping to a new level by having our qualified and trained data entry staff input your information. We go even further, having a skilled accountant review the bookkeeping entries for quality and accuracy. Finally, we have a CPA on staff to answer tough accounting questions or accounting software set up issues.
Security – Many times when I speak to a business owner, they are concerned that outsourcing the bookkeeping chore will create security risks. The reality is that theft from a business is almost always done by an INSIDE bookkeeper. We design a tailored accounting system to protect your information, complete with checks and balances. Although no internal controls are foolproof, having our system in place allows the business owner to do virtually all functions related to money management in a very short amount of time. This provides protection for the business owner from misappropriation or theft of business assets.
Coaching – We schedule a monthly meeting with the business owner to review critical numbers and business events. This “business coaching” provides direction to business owners. The reality is that most business owners need the financial information reported in a way it can be reviewed quickly each day to create success. Once the business owner or manager has access to bookkeeping information that is accurate and timely, the business really zooms. Once the decision maker begins to use concrete financial information to make their decisions business success always follows. This is why all successful companies have a great bookkeeping function.
Cost – Most business owners do not know what it actually costs to have an employee do their bookkeeping. The cost of a bookkeeper is the sum of the bookkeeper’s wage and overhead costs. Overhead costs not only include benefits and office costs, but also the time it takes to hire, train, supervise, and provide back-up for time off, etc. Most businesses incur 1.4 times the hourly cost of the bookkeeper for overhead related costs for bookkeeping. All of those costs are eliminated with outsourced bookkeeping, thereby costing less than an in-house employee.
Your bookkeeping will either support the success of your business or let you down. Take the time to review your bookkeeping information. Can you trust the accuracy of the information?