21 Feb 5 Reasons to Outsource Bookkeeping for Your Business

Why Do Businesses Outsource Bookkeeping?

As a lifelong Carlsbad resident, I often first meet a lot of our bookkeeping clients at their place of business.

Most business owners we talk with are looking to outsource their bookkeeping because they simply don’t have time to do everything.

Running a business is hard work, you wear many hats every single day, we know – which is one reason why you need to outsource your bookkeeping.

It seems like the responsibilities never stop, what was once a forty hour work week when you worked for someone else, is not even close to that now.

Many days you struggle to find the time to even take lunch. Between serving customers, dealing with vendors, & building your business, most of your time every day is occupied running your business.

And that’s a good thing, it got you to where you are today!

But…

Why Should Your Business Outsource Bookkeeping Services?

Time, money & convenience basically, but let’s expand on that.

Whether you business needs current financial figures to present to a lender, or you simply need to keep better track of cash flow, keeping up to date on the basic accounting tasks of your business is essential to its survival.

An easy solution is for your business to outsource bookkeeping to a professional.

Consider these questions:

• How much of your time is spent managing accounts payable & accounts receivable?
• Do you find yourself crunching at the end of the month to reconcile your business bank statements?
• Does payroll management take up a good chunk of your time every week?
• How do you keep up with all the sales tax & workers compensation changes?
• Are you prepared at year-end to deliver your business financials to your CPA?
• Do the daily tasks required to maintain your financial records often fall to the bottom of your to-do list?

Maybe when you first started out in business you had a full bookkeeping staff, and there was no need to outsource. Or maybe when you first started your business, you wore the bookkeeping hat too.

There comes a time in business when you need to let go, in particular with respect to one of the most important aspects of running your business, keeping the books in check.

In order to keep growing, you often need to delegate some responsibilities in order to concentrate more on what matters most…running your business.

Most of our clients recognized this after running themselves ragged, some quickly in just a few months of business.

Others realized this from the beginning, and couldn’t imagine running their business without the help of an outsourced bookkeeping solution.

Most business owners have a similar experience, before recognizing the need to get a better handle on their business bookkeeping.

The daily tasks required to maintain your financial records often fall to the bottom of your owner’s to-do list of priorities. After all, 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!

Inevitably, business owners like you suddenly feel the burden of managing their own bookkeeping and go looking for help.

Not every business has the capital or space to employ an in-house bookkeeper or accounting department. Even for those that do, outsourced bookkeeping is often a win-win situation – and one of the best decisions you could ever make for your business.

If you answered yes to any of the questions above, you might be best served to outsource your bookkeeping, let’s examine five reasons why that would be beneficial for your business.

5 Reasons to Outsource Your Business Bookkeeping

1. Your CPA Will Thank You

By having your taxes and financials ready for your accountant, it makes their job easier.

This translates into less time needed for your CPA to weed through your bookkeeping, year-end financials, payroll, sales tax, worker’s comp, and more.

If hiring an outsourced bookkeeping service means an easier time for your accountant, that means less money out of your pocket come tax time!

Employing an outsourced bookkeeping professional to prepare your business financial records makes CPAs, the IRS, and your bank happy.

You’re not in the paperwork business. We get it. You want to focus on what you do best…running your business.

With an outsourced bookkeeper, you don’t need to be concerned about whether your financials are on time & accurate.

2. Save Time & Money

Time is money.

You have a lot on your plate, and your employees already have a job description. When business owners try to save money by going the DIY route with bookkeeping – or delegating it to an employee – you are spending valuable time and energy.

Instead of managing someone on how to do bookkeeping, or doing it yourself, your time is best spent growing the business.

We question our clients after the first ninety days to see how well we’re doing, and what we could do better. The feedback we hear most often is how after they outsourced their bookkeeping services, they had more time to spend doing what they do best…running their business.

You do your business. Your employees do their jobs. Let a professional bookkeeper handle the financials.

3. Privacy

You work hard for your business, and the privacy of your internal financial records is paramount. As a business owner, you want that financial information kept private and secure.

Sometimes it can be difficult to let go of that control, you’re cautious about turning over all your financial information to someone you don’t know — and you should be.

While I can’t speak for anyone else, at Bottom Line Management we have over 30 years of bookkeeping and accounting experience helping Carlsbad & North County San Diego businesses of all sizes with a professional, trusted outsourced bookkeeping solution.

We are also a member of the Carlsbad Chamber of Commerce and active in the community.

Finding someone who you can trust to perform the job well, grow and adapt with the business over time, and maintain confidentiality is not an easy undertaking.

Outsourcing your bookkeeping will be one of the most important decisions you’ll make.

We invite all of our potential clients to review our client references.

4. Growth

You want your business to grow, and you need a bookkeeping solution to grow with it.

While new businesses often start out with a shorter list of financial record keeping needs, they soon realize how an outsourced bookkeeper can help them save time & money each month.

Scaling your business is rarely a simple journey, you have supply, fulfillment & delivery to consider – among a million and one other factors.

Maybe you’ll have to deal with employee turnover, unruly clients, cash-flow issues, or any other unforeseen hurdles.

As you invest in new staff, systems and processes in order to scale your business, keeping your bookkeeping needs at pace is integral to success.

An outsourced bookkeeping service can not only help you properly manage the growth of your business, it can also help you capitalize on profit opportunities and cash flow growth.

And what about your exit strategy?

Should you decide to leave or sell your business, having a reliable outsourced bookkeeping firm that’s scalable with a set of strong and proven processes will make your transition far more saleable and valuable.

By enlisting the help of an outsourced bookkeeping service, your financial record keeping can scale to your business needs, without having to hire or train additional staff.

Which brings us to our last but certainly not least reason to outsource bookkeeping for your business.

5. Management

“It’s all about finding and hiring people smarter than you. Getting them to join your business. And giving them good work. Then getting out of their way. And trusting them. You have to get out of the way so YOU can focus on the bigger vision. That’s important. And here’s the main thing….you must make them see their work as a MISSION.” – Richard Branson

As a business owner, chances are you’re not a bookkeeping professional, and maybe you’re not in the position to train and manage a bookkeeper – or an entire bookkeeping staff.

An outsourced bookkeeping service solves that problem.

Your business gets all the benefits of an in-house bookkeeper without the overhead and additional expense of hiring and training staff.

The benefits of having an outsourced bookkeeper up-to-date on the latest QuickBooks features, federal & state tax laws, and reporting methods make a big difference on the bottom line of your business.

With the help of an efficient, reliable, and trustworthy outsourced bookkeeping service, there is no need to hire or train additional staff.

As I say to every new client I meet with,

“We turn piles of receipts into complete financials with every penny accounted for and love helping clients solve their financial problems. We let you focus on what you do best — running your own business.”

“As your bookkeeper, Bottom Line Management will save you time and money by reviewing and compiling your year end financials so everything is in black and white, every detail is taken care of, making it much simpler for your CPA or E.A. to prepare the return with ease. All you have to do is show up to the appointment.”

Interested in finding out more about how you can outsource your bookkeeping? Call Betty the Bookkeeper for a 100% free, no-obligation consultation.

Carlsbad Bookkeeping Services that Save You Time & Money

Bottom Line Management will save you time and money by reviewing and compiling your year-end financials so everything is in black and white, every detail is taken care of, making it much simpler for your CPA or E.A. to prepare the return with ease.

All you have to do is show up to the appointment.

Our clients stay in their comfort zone by taking their piles of receipts and records off of their hands. We make sure everything balances to the penny every month.

Stress less — let Bottom Line Management take care of the details. Your CPA will thank you!

Connect With Your Carlsbad Bookkeeper

Click the icons below to connect with us on social media!