Keeping your books up to date is important if you care about your business. Without quality bookkeeping, you won’t know how much cash is coming in or going out. You will have no idea as to whether you are meeting your goals or even running a business successfully.
However, the reality is that not everyone enjoys bookkeeping. This is why outsourcing is such a great option for creatives and entrepreneurs. Or for those who have other areas of their business and family life that they should be focusing on. If you are thinking about outsourcing your bookkeeping, it comes with an array of benefits.
1. Maintains Focus on Your Business.
Working with an external agency to manage your business’s bookkeeping frees up all that valuable time that you have spent on doing your bookkeeping. A lot of small business owners find themselves at night or on the weekends trying to catch up or maintain their accounts. That time can then be put to better use in the area’s of the business you really wish to work to maintain the focus on the growth and development of your business. Or you could give some time back to your family and your hobbies.
2. Saves You Money.
How much is your time worth? How many hours are you spending on your books that you could be spending marketing your products or servicing your clients? By outsourcing your accounts needs, you can save money on paying full-time or part-time wages and benefits to an employee or apply your time, which is valuable, to generate more profitable business.
3. Indispensable Knowledge
Most reputable bookkeeping agencies have fully trained and qualified bookkeepers and BAS agents on deck. Engaging one of these firm gives you immediate access to their combined experience and knowledge, providing YOU with reassurance that your books are being expertly managed and you are 100% compliant with the ATO. They will ensure your books are managed efficiently. Their expertise skills will also come in handy at the end of the financial year when it is time to submit your tax with your accountant, or need advice on how to take your business to the next level.
4. Hit the ground running.
Most of you go into business to do what you do best. So unless you’re opening an Accounts Agency – Bookkeeping is not going to be at the top of that list. Most agencies provide all the systems required to manage your accounts, and are highly proficient in the use of those systems. So rather than spending hours learning how to use these state-of-the-art programs, you can pay someone to get stuck straight into your bookkeeping from day 1, no downtime or upskilling required.
5. Ease of accessibility
Thanks to platforms such as MYOB, Zero or QuickBooks, there is no need for a bookkeeper to disrupt your office or take up space. And it’s LIVE, accurate information that you can actually use to make important business decision. So if you happen to be off on holiday, you can quickly check in to see how things are tracking.
Of course, situations change in business from time to time. You may need to expand or cut back, depending on your current circumstances. Therefore, outsourcing a bookkeeper can be done without issue. As a result, there is no concern about needing to reduce or increase their level of assistance. You get instant flexibility and reliability from your bookkeepers that full-time or part-time staff may not be able to provide.
Please Get In Touch if you would like to chat to one of our team about the benefits of engaging Perth Bookkeeping Professionals to assist with your Bookkeeping, BAS & Advisory work.