Know Your Strengths, Outsource Your Weaknesses

It’s a well-known phrase in the business world, but do we practice it? Too often, we think, “Oh, it doesn’t take that much of my time,” but when we add all those weaknesses together and how much time is taken away from the primary focus of our success, outsourcing can be a smart business decision.

One of the tasks many small business owners find is cost-effective to outsource is bookkeeping.

There are a lot of advantages to using a professional service for your bookkeeping:

1. An outside bookkeeper will record your transactions more quickly.
2. Your financial data will be more accurate.
3. Using an outside resource will probably save you money when you consider the time saved.
4. Your data will be kept securely away from prying eyes.
5. Your bookkeeping partner will send you regular reports with information key to making timely decisions for your business.
6. You don’t have to worry about what to do if your in-house bookkeeper suddenly quits, or leaves for a family emergency.
7. You are always ready for tax time or an audit.
8. If you want to expand and need investors or a loan, your financial case will be ready.

There are, in fact, so many advantages to outsourcing bookkeeping, many BookWerks™ clients who used to ask, “How can I afford a bookkeeping firm?” now wonder, “How did I ever think doing my own bookkeeping was a good use of my time?”

Get back to your passion

You didn’t hang out your shingle to spend your time crunching numbers. You had a passion or an idea you couldn’t NOT pursue.

How much of your work time now goes to reaching that goal, and how much goes to tasks you never signed up for?

Outsourcing your bookkeeping lets you focus on your core competencies.

Get back to work-life balance

Entrepreneurs often find themselves sacrificing time with family, friends and hobbies. A lot of that time is spent on non-revenue-generating tasks, taking energy away from the critical work.

Get back to peace of mind

A lot of worries go out the window when you get professional bookkeeping help:

• Worry that you are behind on bookkeeping and will never catch up.
• Worry that sensitive financial data will get into the wrong hands.
• Worry that some transactions are falling between the cracks.
• Worry that you don’t have the right information to make strategic business decisions.
• Worry that your business is off track financially.
• Worries about cash flow.

With a bookkeeping partner, you can sleep better at night knowing all things financial are in order.

What small business owners appreciate about professional bookkeeping services

Cost savings

• Hiring a full-time, in-house bookkeeper means paying a salary, benefits, payroll taxes and possibly training costs.
• Outsourcing allows you to pay only for what you need–often at a lower overall cost.

Time efficiency

Bookkeeping is time-consuming. Outsourcing frees up your time to focus on core business tasks like sales, strategy and customer service.

Expertise and accuracy

Professional bookkeeping services have staff–often with experience in your field–who specialize in financial reporting, tax regulations and best practices. Using a service reduces the risk of errors and helps maintain clean, audit-ready books.

Access to the latest tools

Professional bookkeeping companies like BookWerks™ use advanced accounting software and tools that provide better reporting and insights without the business having to manage the tech.

Scalability

As your business grows, your bookkeeping company can scale with it; there is no need to hire or restructure internally.

If bookkeeping is not one of your strengths, let’s talk. We can take that “important-but-not-urgent” job off your plate for good.