Accounting Outsourcing and Bookkeeping Outsourcing

As a small business owner, you're probably doing your own manual in-house bookkeeping (at times misspelled book keeping or bookeeping). If you're ready for a change, but can't yet afford to hire a bookkeeper, perhaps it's time to consider the services of an outsourced accounting firm.

Small businesses that are struggling with their bookkeeping processes and fail to retain important documents such as purchase invoices, and possibly other records during the year run the risk of year-end penalties. Producing income and expenditure records for a business is not that difficult, and some small business owners are capable of running and managing rudimentary bookkeeping operations. What most small business owners lack is the time to properly keep a set of books. Many savvy small business owners find that at least outsourcing bookkeeping if not outsourcing accounting altogether can lower costs and often radically improve efficiency.

One of the pitfalls of a small business keeping manual records is that documents may be misplaced. Also, manual record keeping is usually done at the end of year in preparation of tax filings, and not on a regular basis, which reduces your control during the financial year to a minimum. Files are often now backed up. Information cannot be easily accessed, and the small business often suffers - usually on the bottom line.

Accurate bookkeeping is the foundation of being able to access reliable finance reports at anytime. These reports impact the decisions you make, the accuracy of your tax returns and your ability to manage your business. A good outsourced bookkeeper (sometimes misspelled book keeper or bookeeper) can get you back on track and usually lower your costs.

Bookkeeping can be done by an accounting outsourcing firm with great results. A quality outsourced accountant will produce accurate and timely financial records, especially if the business produces a lot of paperwork. Employing a bookkeeper is important when the amount of time the business owner is spending on financial management outweighs their time spent on business development and improving profits. (Sometimes your CPA will offer bookkeeping at attractive rates but most savvy small businesses use separate outsourced bookkeeping.)

Also, a professional remote bookkeeper can monitor management judgement and can note mistakes and overall bad accounting practices. Mistakes can be noticed if the small business owner places his or her financial records in the hands of a skilled outsourced bookkeeping service.

Whether a small business chooses to have all the bookkeeping and accounting done by an outsourced CPA or outsourced bookkeeper, choosing your accounting professional should be done carefully. Be sure to compare rates, check credentials, make sure they speak your language (sometimes literally). Outsourcing accounting and outsourcing bookkeeping can be a wonderful step in improving operations but must be done carefully.

A manual bookkeeping system can also work, but most times a small business will function better finding a good bookkeeper. An outsourced bookkeeper could be a logical solution to your accounting needs for smaller businesses that are trying to maximize dollars. As the small business grows larger or, for example, complex tax advice, a certified public accountant (CPA) can add real value.

If you need some help, you can contact AccountantsGuaranteed.Com. They offer a free research service for small businesses looking for help with bookkeeping and accounting. Their research team is for small businesses in the US only (toll free). Contact www.AccountantsGuaranteed.Com.