Chartered Professional Accountant located in Oakville

BENEFITS OF OUTSOURCING BOOKKEEPING

It doesn’t take long for a new business owner to understand that accurate and up-to-date financial records play an important part in the success of a business. At the same time, the daily tasks required  to maintain these records often fall to the bottom of an owner’s to-do list of priorities.

Business owners didn’t go into business to become bookkeepers–and the value of time spent on maintaining the books translates into a pretty expensive hourly rate! Hiring a bookkeeper to handle the accounting tasks in-house for the business is one solution to the problem, but it isn’t always the best solution.

FOUR REASONS TO OUTSOURCE BOOKKEEPING SERVICES:

Peace of Mind

To give you peace of mind, a good bookkeeping service will help you focus on your business while they focus on the numbers.

Scalability

Hiring an outsourced bookkeeping service with controller oversight and a full-service offering enables the service to scale to needs, without having to hire or train additional staff.

Training

Most business owners are not in the position to be able to train or manage bookkeeping staff–primarily because their bookkeeper likely knows more about it than they do. But the benefits of having a bookkeeper with up-to-date comprehensive knowledge of tax rules or reporting methods makes a big difference in the quality of bookkeeping.

Maximize Resources

When business owners try to save money by doing their own bookkeeping or delegating it to another key employee, they are spending valuable time and energy that could be better used growing the business. When they outsource their bookkeeping services, they free themselves up to spend their time doing what they do best.

Whether a business needs current financial figures to present to a banker or it just needs to keep tabs on cash flow, keeping up to date on accounting tasks is essential; An easy solution is to outsource bookkeeping to a professional service such as Scott Gray, CPA, CMA, and his team at CFO for Rent.