Perhaps the question I get asked most about outsourced bookkeeping is "what is the benefit of outsourcing my accounting staff?" Outsourced accountants can make the difference between your business success and failure.
Business owners are under the mistaken impression that outsourcing their accounting staff costs too much money. They think that just because they have accounting software, that they can save money by either doing it themselves or by having someone like a spouse do it for them. You don't want to make this mistake with your business, as it usually can cost you more in the end.
So here are some ways Henderson's Bookkeeping believes your company can benefit by using outsourced bookkeeping:
Handling the payroll for your employees involves more than just deducting taxes and writing checks. There are a volumes of regulations that need to be followed to keep your company out of trouble. This job should not be taken lightly as doing so will always come back to haunt you.
Collecting and remitting taxes to the government is another area that must be done accurately. Are you collecting the right amount of tax on all of your sales items? If you're not, you could soon find yourself dealing with a government audit, which is as excruciating as it sounds.
As a business, your goal is obviously to make money. But do you know if the system you have in place is accurate? What if you lose track of invoices and you don't know who still owes you money on unpaid invoices? Or what if you have employees who you suspect of stealing from you? You must be able to account for all your income at all times.
If your suppliers are not paid on time, you risk losing your credit rating. So you always need to make sure that vendor bill payments are not late. If you find that this job is too difficult for you, it's vital that you find someone to take care of it for you.
Having accurate monthly financial statements is the only way that you can know how your business is doing. You can tell at a glance whether you need to do more advertising to generate revenue or cut back on unnecessary expenses. Also, some business owners have a bad habit of taking too much cash out of their business; so financial statements can tell them if they need to cut back on their personal spending.
So if you've been thinking about looking for someone to do your outsourced bookkeeping you can see that there are many reasons to hire a professional. Your business depends on it. Feel free to contact us today at (800) 528-6988 or visit our website at www.hendersonbookkeepingservice.com
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