Bookkeeping has been likened to going to the dentist for some business owners – no one really wants to take time away from the day job to do it, but all knowing that neglect will only lead to serious repercussions.
But the rise of online has brought everyone closer to experts who can help with those backend business needs, taking away the anxiety and bringing a whole host of other benefits.
If you have not yet taken the leap onto the cloud, here are eight benefits Gloucestershire business owners could be missing out on.
Save money
Little talks louder to a business than its bottom line – and the bottom line with outsourcing your bookkeeping is you save money on a like for like comparison. You only pay for what you need, which will not be a full time person and certainly a lot less time than it’s currently taking.
Free up more time
You may be someone who currently battles with the bookkeeping yourself, on top of running your business, or you may wish the books you look over made more sense. Outsourcing can remove the task from your in-tray entirely, allow you to concentrate on what you do best, and deliver better information to help you make better decisions.
Increase focus and efficiency
With more time to do what you do best and less distraction comes more focus and hopefully more efficiency so you can achieve your business objectives. Unless it contributes to your overall goal, you should not be wasting your time on it – especially when someone else can do it better than you.
Benefit from the very best technology
Pick the right bookkeeper and you will have access to not just their expertise, but the very best technology and tools. Professional bookkeeping programmes can be expensive for individual firms and keeping up with changes in legislation and regulations difficult and time consuming. The best systems will help you transform your business. BookCheck uses Xero and can seamlessly transfer your accounts into that system, even provide custom apps to help you see what you want, when you want. Often these add-ons literally transform a business efficiency, at the very least it’s greatly improved.
Enjoy more expertise with quality Management Information
By putting your bookkeeping into the hands of an expert you immediately gain a highly skilled member of staff, even if you are not paying for them full time. Through that relationship, and what they can provide, you will develop a better understanding of your business. It will make your job a whole lot easier. Add to that quality & sound financial reporting, guaranteed always thoroughly checked & issued by a qualified accountant, so you can measure your performance and hence improve it.
Make less costly mistakes
If bookkeeping is not your forte, not only will you be spending more time that you should you may well be making mistakes an outsourced bookkeeper would not. The consequences can be detrimental and financial (think underclaiming or overclaiming VAT – which can draw unwelcome attention form HMRC).
Gain a whole team of experts
Go to the right firm and you are not hiring a new bookkeeper, but a whole team. Your financial records will be with a group of individuals who thrive on delivering the very best information for your business in a way you can understand. And they will be fighting your corner. You also avoid the big challenge of resourcing – that’s up to firm’s like BookCheck to handle.
Scalability
With outsourcing you can scale the service you need as you need it. As your business grows a good bookkeeping service will have the capacity and expertise to remain reliable and able and to grow with you. They can hold your hands through the process and help you achieve your goals because they will have done it before for other clients. In short, they can provide the flexibility an in-house bookkeeper can’t.
