Thinking about hiring an in-house bookkeeper? Wait! If so, give us a minute to tell you why that might not be the best idea. Hiring in-house might seem like the simplest solution to your bookkeeping dilemma but there are alternatives – the most common being to outsource. Now you’re probably thinking “why would I do that?” Well, outsourcing your bookkeeping work rather than hiring an in-house bookkeeper may actually present more benefits.
At the end of the day, your main responsibility as a business owner is to make as much money as possible while saving some in the process. In the following blog post, we’re going to explore some of the benefits of outsourcing your bookkeeping work. By the end, you may be convinced that outsourcing is the right decision for you and if not, at least we can inform you on a reasonable alternative.
Believe it or not, there is actually less of a commitment involved with outsourcing a bookkeeper than hiring one. Outsourcing a bookkeeper is like finding an electrician. You pay by the hour and if you don’t care for their service, you can simply find a replacement. No contracts, no obligations, no problems. The hardest part about hiring a bookkeeper is finding the perfect fit for you.
On the other hand, hiring someone in-house comes with more of an obligation. Remember, you’re hiring someone to join your staff – an individual that needs to be documented, taxed, and rightfully terminated if they don’t turn out to be a good fit. After letting go of an in-house bookkeeper, it can take some time before finding another one, forcing you to go through the entire application process again. These issues are avoided with outsourcing to a company with several certified bookkeepers where you can easily choose the one that is the best fit for your environment.
Less Overhead Expenses
Hiring a full-time employee is a hefty expense. We’re not just talking a bi-weekly paycheck. Overhead expenses include the cost of unemployment insurance, worker’s compensation insurance, other benefits, possibly a 401K, additional FICA and Medicare taxes, and even office space and equipment. Now, I don’t know what other expenses your business has but that stuff tends to add up quickly. There’s a reason why businesses are careful before hiring someone new. It’s because with all the money they’re spending, they have to make sure it’s worth it.
That problem is non-existent with outsourced bookkeepers. There’s no payroll taxes that have to be paid or office space and equipment that has to be accommodated. With outsourcing, the only thing you have to worry about is paying that monthly bill. Another great thing is that bookkeeping fees usually come at a manageable hourly rate, meaning that you can easily work it into your budget. In other words, no surprises or unexpected charges.
Outsourced Bookkeepers Can Work From Anywhere – Even Your Office
What happens if your bookkeeper calls out sick for the day? It sounds like you’re out a bookkeeper. Outsourcing avoids this problem because there’s always some at the ready, prepared to tackle your books. Most outsourced bookkeepers utilize QuickBooks or other bookkeeping software, which allows them to access your financial data anywhere at any time, with your permission of course. That means there’s always someone keeping track of your finances. All it takes is one sick day for things to turn sour. Take it from us: don’t risk it – just outsource.
Outsourced Bookkeepers Are Easy to Reach
Now, we’re not saying it’s difficult to reach someone that’s right down the hall from you but hear us out. There’s a misconception that outsourced services are terrible in terms of communication. We’re here to let you know that’s not true.
Outsourcing provides you with same genuine ease of contacting support or your personal bookkeeper as hiring in-house. Most bookkeepers are available via phone, email, video chat, or in-person by appointment. Making matters sweeter, they will also provide you with routine status updates and reports to ensure that you remain in the loop.
Still thinking about hiring in-house? That’s fine if you are but also look into outsourcing as well. It might just be the method for you. Learn more about outsourced bookkeeping by visiting the GBC website today. Also, check out our blog section for even more bookkeeping tips and articles.