Here are some pros and cons plus benefits of outsourcing bookkeeping. There are definitely businesses that need an onsite bookkeeper. Most small to medium-size businesses do not simply because there is not enough work to actually keep a bookkeeper busy for 20 to 25 hours a week. A professional bookkeeper can take care of most small to medium-sized business needs in under 10 hours a month. Obviously this is a huge saving to you in the long run as the business owner.
Briefly, a virtual bookkeeper is either a business owner or freelancer that keeps track of your books offsite via bookkeeping applications in the cloud. A virtual bookkeeper is not an employee of your business. They operate as an independent contractor. Communication is mainly via email or phone/video calls. Possibly in-person meetings happen if your virtual bookkeeper is local. If your business is short on office space the benefits of outsourcing your bookkeeping is the way to go.
In most cases, accountants and bookkeepers play different roles in a business. Accountants are usually less hands-on in your books and are doing things like advising, analyzing, auditing and tax prep. The bookkeeper is hands-on, taking care of the day to day transactions. They help invoice your customers, run monthly financial reports, categorize expenses. Plus make sure your books balance with your bank statements along with other daily and monthly bookkeeping tasks. A good bookkeeper makes life easier for your accountant. The accountant can assist the bookkeeper with more complex accounting details in the books. The accountant is perfectly capable of performing all tasks of a bookkeeper. Therefore most likely they don’t because they have other things to do and their prices for bookkeeping are going to be significantly higher than a virtual bookkeeper.
I will communicate with you so that you understand exactly how your business is doing on a monthly basis. No more guessing or hoping for the best! I will track how much you make and where all your cash is going. This will give you the confidence you need to make better financial decisions for your business.
Imagine going into tax season completely relaxed and prepared. With my help, it really is possible! Your books will be up-to-date and accurate. I will find every deductible business expense and you can be confident that you will not be penalized come tax season.
I'm here to solve whatever bookkeeping problems you are facing. (And if I can't, I have colleagues who surely can and I would be happy to refer you to another expert.)
Schedule a free consultation so that we can have a real conversation about getting your books in order.