Bookkeeping is that ‘thing’ that basically nobody wants to do but knows that neglecting it can result in an avalanche of issues. And that’s why, historically, business owners would just hire somebody to look after it in-house.
Instead of having bookkeeping done in-house, business owners need to seriously consider having it outsourced.
More time – Outsourcing bookkeeping gives you more time - time that is valuable and better spent on bettering your business. Backend office duties like bookkeeping can be a massive distraction from allowing you to properly running your business. It may also lead to conflicts of interest inside the business. These time wasters and distractions add-up quickly and can be avoided entirely by outsourcing your bookkeeping.
Save money – Outsourcing bookkeeping lets you save money because you don’t need to pay for full-time or part-time staff and the benefits. And really, the bigger savings is in avoiding lost productivity and opportunity (note, this is a real cost, it just doesn’t show up in the financial statements under conventional accounting principles!). Outsourcing your bookkeeping lets you pay for what you need and nothing more.
Expertise – Outsourcing bookkeeping gives you access to an entire team with years of experience and knowledge without having to pay massive premiums for it on in-house staff. You get the benefits of accessing highly skilled staff who understand your business and the best bookkeeping practices specific to your unique business.
Focused in-house staff – Outsourcing bookkeeping ensures in-house staff aren’t distracted by bookkeeping and allows them to focus on the services and products of the business. If a bookkeeper is at the same location of the operating business, it can be extremely difficult to focus on their work when they’re surrounded by the everyday happenings of the business going on around them.
Team versus individual – Outsourcing bookkeeping gives you access to a roster of bookkeepers which is far better than having access to one bookkeeper. And we all know that one individual just can’t do as much as multiple capable individuals. Outsourcing your bookkeeping gives you access to different levels of professional staff and ensures there are multiple sets of eyes on your financials.
Access to premium systems – Outsourcing bookkeeping lets you avoid having to develop systems in-house and reinvent the wheel and instead gives you access to already developed and proven premium systems. You don’t need to worry about developing or spending money on premium systems when you can easily access them at the snap of your fingers.
Scalability – Outsourcing bookkeeping allows you to easily expand and know that there is a scalable team ready and able right there when you need them. Knowing that they’re there ready as needed is far better than having to worry about hiring and scaling your in-house team and everything that that entails.
Deuzeman CPA is here to help Canadian businesses with full service outsourced bookkeeping and to be the one-stop shop for all other tax and accounting needs.
Please feel free to contact us for additional information or to discuss your situation. We would be glad to assist you.
Caveat: The information in this publication is current as of the time it was written. This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact Deuzeman & Associates to discuss these matters in the context of your particular circumstances. Deuzeman & Associates does not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.