Having a clear and accurate picture of your finances is an integral part of any business. Whether your business is large or small, ensuring that all of your financial transactions are recorded accurately enables you to make informed decisions based on solid data.
1. Time is Money
Many business owners do their books themselves because they believe they don’t have enough work for a full-time bookkeeper. Nonetheless, no matter the size of your business, you should be spending your time doing what you do best: Running Your Business! Consider hiring an efficient, well-trained outsourced bookkeeper your bookkeeping needs. Whether it’s once per week or once per month, an outsourced bookkeeper can provide accurate books and records and you can work on, instead of in, your business!
2. Peace of Mind
Running a business is stressful enough–You don’t need the added pressure of wondering if your books are accurate or whether your bills are being paid on time. An outsourced bookkeeper can alleviate this stress.
Are you having trouble preparing accurate budgets? Do you need help with strategic planning? Wouldn’t it be nice to have an experienced CFO to help you? An outsourced CFO can help you consider the different options you may have when making major business decisions.
Businesses that use untrained employees to do the books “part-time” often find their records are incomplete or inconsistent. These irregularities can be very confusing and can compound over time, making it hard for you to get an accurate financial picture of your company. An outsourced bookkeeper can work with you to develop procedures and processes tailored to your business so that you can always have a clear picture of your finances.
4. Cost Benefit
Financial management is key for any business. Having an accurate record of your finances enables you to make informed decisions. It can be expensive, and unnecessary to employ a full-time bookkeeper, Controller or CFO. While your business may need one of these employees, it may not need all of them. Outsourced financial professionals can do the job on an hourly, as-needed basis so that you pay only for the tasks that you need done.
Is your business seasonal? Do you need an extra set of hands during your busy season? Is your bookkeeper planning to take a leave of absence? What would happen to your financial controls if your Controller quit unexpectedly? An outsourced financial consultant is the perfect temporary solution to all of these issues. An experienced bookkeeper, Controller or CFO can step right in and fill the role that you need for as long as required, avoiding interruption to your business.
For more information regarding how outsourcing your finance and accounting needs can benefit your business, please feel free to contact our Director of Client Services, Ben Negrin, at 646-783-1944.