Entrepreneurs well know the value of accurate bookkeeping and
financial management. It’s a continuous struggle between growing a
business, being a one man team, the necessities of running a business,
and tracking the monies going in and out. How do you find the time to
manage your business, the financials and making customers happy? This is
where San Diego Business Essentials can help!
With the
accessibility of technology and modern methods, bookkeeping services
aids businesses with their backend requirements such as properly
monitoring accounts receivable, accounts payable, expenditures, losses
or profits, among other essential accounting concerns of your trade. A
virtual bookkeeping company will be able to manage your company's’
financials without having to be physically present in your place of
work. Here are some top advantages of outsourcing your bookkeeping
requirements:
Decrease your Stress, Allows More Time for Business
Doing
all the bookkeeping in-house or by yourself can actually hinder your
business’ growth. When you hire a bookkeeping service, you can use more
of your time thinking about how you can achieve your sales goals,
improve your brand, or influence meaningful changes that will increase
your revenue for your company.
Bookkeeping Employee vs. Bookkeeping Service can save you money
If
you are trying to compare hiring an in-house bookkeeping employee vs.
hiring an outsourced bookkeeping service company, here are some key
facts to keep in mind.
Bookkeeping Employee
Hiring
in-house staff to do the bookkeeping tasks for you, can be more costly
in the long run. Why is it more costly if you are only paying them say
$15.00 per hour? Many times, employees have not had any formal training
in Accounting or Bookkeeping. This can result in errors that can cost
you thousands of dollars in the long run, and more importantly, you will
need a CPA or Professional Bookkeeper to check their work prior to
sending your financial data to the IRS. This can result in $55-180 per
hour in fees. Don’t forget to include the employer payroll taxes,
equation of benefits, retirement plans, medical insurance, workers
compensation and sick leave.
Outsourced Bookkeeping Service Firm
When
you hire a bookkeeping service, you can hire them on a per work basis,
weekly, bi-monthly, or monthly depending on your agreement and according
to your needs. Everything will in fact depend on your requirements, the
size of your organization, and how frequently your financial data needs
to be completed. You will not have any other fees or taxes to pay and
all financial data is ran by you and your CPA with FREE revisions and
year end journal entries.
Professional Work
When
it comes to tax time, no one wants to be on the IRS’ bad side. If your
financials are kept up throughout the year by a Certified Bookkeeper,
you will have a peace of mind at tax time. Hire an outsourced
bookkeeping service to take care of your monthly bookkeeping and you
will be glad you did.
There are several companies, which you can hire for San Diego bookkeeping services, but you need to do a proper research and hire only the best one like San Diego Business Essentials.
