If you own a business and are doing your own bookkeeping then you are costing your company more money. Too many owners think they are cutting costs by keeping bookkeeping internal, but the price they are paying is actually higher than hiring an outsourced bookkeeping department.
Professionalism & Proper Procedures
If bookkeeping were nothing but addition and subtraction, then financial advisors would have elementary school educations. The profession isn’t just about keeping track of transactions. It’s about an entire theory of smart business practices that ensure financial records are current and complete and in accordance with GAAP.
It is common for business owners who do their own books to keep fiddling with previous months. They find a receipt in a drawer from three months ago or realize a debit was entered wrong so change it. The problem with this kind of ‘bookkeeping’ means the company’s financial picture is always changing. Reports become less useful because nobody can be sure the report is complete, the report is accurate.
Bookkeeping Analysis & Advice
Professional bookkeeper/financial advisor can provide a level of analysis of a company’s finances well beyond what a layman could. Reports can show patterns in revenues and expenditures that a superficial examination would not have revealed. With in-depth information, the owner can focus on strategic plans that will bring future prosperity.
An owner can ask the outsourced bookkeeping department for advice. This can range from basic business practices that can cut expenses and increase revenue to evaluations of major expenditures. A business which is planning an expansion can work with the bookkeeping to predict the
viability of the project.
The value of an outsourced bookkeeping department is difficult to measure but almost always exceeds the cost of the operation.
We help you plan, forecast and analyze your financial data
so you can get on top of your finances today to grow your small business big tomorrow.
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