Accurate and up-to-date financial records play an important part in your business’s success, but the daily tasks required to maintain these records fall to the bottom of your to-do list. That’s understandable — you didn’t go into business to become a bookkeeper. Wading through managing employees, paying bills, making long-term decisions and analyzing costs can consume your day. Bookkeeping takes up a lot of your valuable time.

Bookkeepers are critical to keeping the back of the house running. Paying the bills on time ensures your credit score remains stellar. They deposit your checks, so you have the cash flow to pay those bills. They enter all of your transactions in your accounting system so you can generate financial statements for your management, investors, banks and creditors.

You may be considering hiring a bookkeeper to manage accounting tasks in-house as a solution, but it might not be the best solution. Below are seven reasons why outsourcing could be better for you and your business.

1. Savings on payroll and operating costs. Instead of hiring a new employee, you’ll keep payroll costs lower by not recruiting, training and offering benefits to another hire. Rather than funneling your payroll funds to support staff, spend more on core employees.
2. Comprehensive knowledge without training costs. You can rely on bookkeepers who are up to date on the latest QuickBooks features and have comprehensive knowledge of tax rules and reporting methods. Having a team working for you means you’ll have access to agents with the training you need.
3. Time savings and less paperwork. Logging, analyzing, and reconciling payments and other financial records takes time. No waiting for an in-house bookkeeper to settle in and adjust to your company. Outsource these tedious, time-consuming tasks and have more time for customer service, evaluating processes and improving operations overall.
4. Streamlined process with online portals based in the cloud. You’ll have access to your records at any time. This means cross-collaboration with centralized, organized data.
   1. View your business’s financial status as money moves in and out. Expenses and income are sorted, giving you more detailed insights into your business.
   2. Cash flow history, profits and losses, and your balance sheet are available for sharing with partners, employees, legal counsel and financial advisers. Quantitative insights are available.
5. Outsourced bookkeeping is staffing insurance. What happens when your bookkeeper quits with little to no notice?
   1. Are you prepared for the unexpected disruption if staff out sick for a day, a week, or worse, permanently? Outsourcing to CironeFriedberg ensures that your bookkeeping continues no matter what.
6. More informed business decisions. Have the numbers to back up your instincts and gut. With financial intelligence, you can make better decisions.
   1. Virtual bookkeeping helps you determine which customers or clients to invest more money in and which to stop marketing to.
   2. Analyze when you need and can afford new employees. Calculate how much payroll you can sustain.
   3. Use your valuable time and energy for growing your business. Outsourcing bookkeeping frees your time for what you do best.
7. Tax-ready and audit-ready financials. Professional bookkeeping services prepare financial records for accountants, the IRS and banking institutions. You won’t have to worry about your books’ accuracy or need to question the integrity of your financial data for investor reviews either. Simplify tax preparation and take advantage of potential tax deductions.

Maybe your bookkeeping needs are as simple as tracking cash flow. Keeping up to date on accounting tasks is essential. Outsourcing your bookkeeping services with CironeFriedberg is scalable. Services grow as you grow. Just give us a call to get us started on your books today.

HAVE QUESTIONS?

Learn more about our Client Accounting Services, designed to help keep your business operating as profitably as possible with a host of outsourced services. You can reach us by phone at (203) 798-2721 (Bethel), (203) 366-5876 (Shelton), or (203) 359-1100 (Darien), or email us at info@cironefriedberg.com.