Remember back to when you first decided to set up your own business, you were pursuing your passion and had a vision for the future on how everything was going to be different. What you can’t have anticipated was the list of new skills you needed to deliver on that vision.
As you watch your business grow, you started building a team of people around you – or maybe you are still at the stage of doing it all yourself - but, in today’s world, you need only hire people who are going to bring value to your business and outsource the painful and timing consuming back-end activities. In fact, trying to do everything in-house burdens you with unnecessary expenses and a large payroll. The employees you bring into your business should be those that have the skills and expertise to make a difference to your customers and profits – everything else should be outsourced, especially the tedious accounting and bookkeeping activities. You likely already have a CPA but how much costly bookkeeping activities is he or she undertaking unnecessarily and, even then, your finances are only getting a work out on periodically.
As a very minimum, outsourcing your bookkeeping is going to give you access to leading tools and have someone else crunching your numbers. Your financial data will be available 24/7 so you have timely information to make decisions on. More than that, the right person in your bookkeeping seat will bring (or should) far more value add services that will make a difference.
Here are just some of the advantages you would enjoy:
1. Just think about how much time (or money) you are spending doing the numbers and are you actually getting anything out of it other than the tick-box to stay it's done? How many things in your life are having to balance? Outsourcing will give you greater balance and more time to focus on your business so you can concentrate on your strengths and work towards making your business everything you dreamed it would be with surety that your numbers are being managed by one of the very best.
2. Bookkeeping isn’t Rocket Science if numbers are intuitive to you or you have an accounting background otherwise it sure as hell can feel like it is. Access to accounting expertise and a passionate expert on your side will bring greater value to your business – helping you in your decision making and having a positive impact on your future growth and success.
3. Cost Savings & Revenue Opportunity - outsourcing your books will save you money if you are currently employing someone in-house and, at the end of the day, you are only paying for the services you need today – though you do want to select your bookkeeper knowing that they can scale their services as your business expands. They will take the time, as needed, to walk you through the results, highlighting the key facts so you understand what the numbers are telling so you can make the right decisions. You know what your time costs and how many hours you are spending on your books so do the math and there’s your revenue opportunity.
4. Access to the latest technologies. Great bookkeepers stay in touch with the latest technologies so they can automate processing to focus on giving you the insight into the financial information you need. They’ll work to present you the data in a format that you understand and can work with rather than just relying on the 3 traditional financial reports that aren’t always intuitive. Better still, these technologies not only back everything up overnight and keep copies of your invoices within the accounts so if the IRS comes knocking, everything will already be prepared for them. No more shoe boxes of receipts and nights spend crunching numbers on spreadsheets. Technologies such as Hubdoc allow you to take a photo of your receipts and load them directly to your bookkeeper who will process them directly into your accounts so you know your numbers are constantly up to date. Moreover, they'
5. Working in Partnership. For greater success, you need to be able to work with someone that shares your commitment for success. Sure, there’s key characteristics you need to identify – Are they experienced? Are they hard working and detail orientated? Do they have a positive outlook? But most of all, are they going to be a difference maker and commit to joint success? You deserve someone who's going to be able to focus on the little things (your cents) so the big things (your dollars) to take care of themselves.
At AllCents, we have a passion for numbers and we partner with our clients so they have constant access to their financial information and great insight into the key focus areas that will help our clients to achieve their goals
It just makes sense!