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Four Common Misconceptions about Outsourced Bookkeeping

Business owners looking to outsource bookkeeping may be skeptical due to a number of reasons. Let us shed some light on a few of those & at the same time, draw a clear line between fact & fiction:

Ready to avail all the benefits of outsourced bookkeeping? Get in touch with us at: A&B Accounting and Business Solutions

Don’t Let These Myths Keep You From Exploring Alternate Bookkeeping Options

Outsourcing important business function is gradually gaining a strong foothold in industries around the world. Particularly, small to medium business owners are rapidly beginning to realize the importance of hiring third party service providers for accounting, bookkeeping and other operations.

However, the perception about outsourcing remains to be in the grey area. It is often accompanied with confusion, and for some, outright fear.

Similarly, business owners looking to outsource bookkeeping may be skeptical due to a number of different reasons. This article sheds light on those very reasons, clarifying them and helping separate fact from fiction:

Loss Of Power

No business owner likes the idea of losing control of their operations. This misconception feeds on one of business owner’s most significant fears. The truth is, rather than costing you control and power, outsourcing bookkeeping will actually give you a better grip on the company’s objectives and goals. You will have enough time on your hands to make informed business decisions while a reliable service provider looks after the books.

It Always Means Sending Work Overseas

For most business owners, the number one thing that comes to mind when considering outsourcing is sending work overseas.

Outsourcing simply refers to contracting work to a service provider. In no way does it point to offshore companies. In fact, one of the fastest growing sectors under this domain is that of service providers in the US.

A large number of US based accounting firms offer bookkeeping services to companies within the US.

There Are Always Concerns Over Security

Business owners considering outsourcing bookkeeping may also be concerned over matters regarding security of their financial records. Even though nothing stored on the cloud is technically safe, professional accounting services implement the best security measures. They also ensure complete confidentiality of your documents and records while safeguarding your information at all times.

They Are Always Late

Another misconception that keeps business owners from using outsourced bookkeeping services are the concerns over time management. The truth is, outsourced bookkeeping services are highly professional.

They are there in the first place to take responsibilities off your shoulders so that you can focus on business growth and development. Provided that you research the company before handing over bookkeeping to it, punctuality and time management should be the least of your concerns.

Professional accounting services are among the leading choices for business owners looking to streamline business management, while having a responsible team of experts looking after their books. If you are looking for small business accounting services, check out A & B Accounting and Business Solutions. 

Bookkeeping 101: Don’t Rely On Inexperienced Bookkeepers

Would you take your Tesla Model S to a ‘cheap mechanic’? Why then would you consider letting a novice or inefficient service deal with your business’s bookkeeping?

No one imagines bookkeeping going wrong; it can harm your business too much. But, you realize that your financial decisions are guided by the analysis of information present in the ledger. So, you know how drastic it can be!

How do things go wrong?

Small businesses often view bookkeeping as an additional expense. They think of it as a cost that burdens their financial resources.

In order to save money, these businesses go for cost-cutting strategies. They either hire an inexperienced bookkeeper service or have other staff do it for them. Some even go as far as giving the responsibility to their family members.

The problem is that most people don’t realize how that could end. The blame is put on problems with the cash flow, inability to pay bills on time and so on. It’s easy to forget the source of the problem: bookkeeping.

Where do these problems start?

Most businesses face these problems because of inadequate procedures and systems for record-keeping.

It is important to have the latest systems in place so that chances of errors are reduced.

Business owners rely on accountants to provide insights related to growth and design strategies for realizing future prospects. However, if the bookkeeping is riddled with errors, strategies and decisions based on these figures are going to be unhealthy for the business too!

Bookkeepers who don’t have sufficient experience can’t understand the importance of financial management. Accuracy is needed even more for a small business, as a single error could lead to business failure.

How can you avoid this situation?

Hiring professional bookkeeping and accounting services can solve all your problems. Because of their experience, they see patterns and notice trends which can be useful for your business in the future. This will help you take the right steps at the right time!

Focusing on the bookkeeping, you can get the support your business requires to get to the top. We suggest going for an experienced service provider such as A&B Accounting and Business Solutions, LLC.

The company offers professional bookkeeping services and a number of business solutions in Florida. Contact them today to avail their highly affordable services.