Reasons Outsourced Bookkeeping Makes Long-term Sense
You know your business better than anyone else.
But as it grows, there is a need to hand off certain day-to-day tasks. Like bookkeeping.
Hitting a critical mass of customers will stunt its growth. Unless you already delegated to another expert.
Along those lines, we want to give you practical reasons to take this action.
Sit back, relax, and read on!
How Does Outsourced Bookkeeping Work?
Don’t let the term “outsourcing” intimidate you.
It’s true that some customers are hesitant to work with businesses that use non-U.S. based help. As a result, more are choosing small business America over corporations.
That’s great news for you!
But that doesn’t mean you should throw out the idea. In fact, outsourced
bookkeeping allows you to scale sooner.
And who doesn’t want that?
Example of the process:
- You grant access to the business’ financial activity
- The professional records and manages these daily transactions
- They send you weekly or monthly reports with graphs and insights
Once you have these simple overviews in hand, you can brainstorm ways to increase cash flow. And make good investments in areas such as technology and digital marketing.
Advice from your contracted expert ultimately aids in streamlining your processes.
Seasoned entrepreneurs have realized that they aren’t the best at everything. And it’s better to pay someone.
Seeing its value, many even add it into their personal lives. Like outsourcing the lawn mowing!
Paying someone $20 an hour is a better use of their resources. Especially if they make $100 each hour in their business.
What Businesses Outsource Bookkeeping?
Various small to mid sized operations choose external bookkeeping services.
But there is a more narrow pool who reap the greatest benefits:
- Restaurants
- Law firms
- Education
- Healthcare
- Marketing agencies
- Retail
Restrictions on local restaurants during Covid mandates created a need for leaner systems. Staying afloat and weathering the uncertainty was key.
Lawyers spend countless hours researching their cases. Leaving little time for additional detail-oriented analysis of their books.
Montessori schools highlight hand- on learning. Plus teaching real world skills. That involves a consistent time investment. Making them great candidates for delegating financial tasks.
Private practice doctors main goal is educating patients on improving their health. And their schedules don’t allow for uploading every receipt to accounting software.
Creative types don’t normally want to use brain power on numbers and math in general. Their talents are better applied elsewhere.
Working with a pro in the field of bookkeeping gives each of these industries a way to compete effectively.
You’re likely handling financial operations internally right now. By you or a trusted employee.
Next, we’ll look at reasons to make a change.
In House Bookkeeping Vs Outsourcing
Perhaps you had an employee leave, only to discover a mess of transaction records. Or maybe it’s your least favorite task of the week.
Either scenario justifies altering your current method.
Instead of getting frustrated by taking on this job yourself, pass it off.
Benefits of outsourced bookkeeping:
- Permits you to sample outsourcing in your business
- Gives you more time for revenue generating activities
- Offloads cleaning up a previous financial recording disaster
- Supplies an easy to digest snapshot of your fiscal health
Delegating is hard for small business owners. But once they do it, the practice becomes easier. And more beneficial.
Start by contracting out smaller tasks. You can test if it makes sense to entrust your entire accounting to this firm. Eventually.
Many business owners are big picture thinkers. A numbers ace assists them with actionable guidance on daily inputs and outputs. Returning time to their busy schedules.
All businesses want to be profitable. A positive cash flow removes the need for an in-depth study of their financial documents.
Every week, you can receive this graph with basic insights from your bookkeeper.
Improving Overall Business Health
With long days and varying demands, quickly viewing your
business vitals leads to wise decision making.
How this happens:
- You can identify warning signs before they become a bigger problem
- You can determine if marketing strategies are delivering results
- You can reduce the temptation to collect needless debt
Let’s unpack these a bit.
A model created by British psychologist James Reason used what’s called the “Swiss cheese effect.” It helps businesses find gaps in processes and close them.
Bear with us on this analogy.
A regular report delivered to your email inbox might expose a breakdown in your Accounts Receivable. Going a bit deeper could show that customers are late in paying invoices.
Your solution could be incentivizing prompt payment to increase available cash.
Besides online ads, your return on digital marketing is hard to quantify. Unless you ran multiple campaigns recently and have an unexplained boost in revenue.
Then you can assume the expense was worth it.
Entrepreneurs are notorious for what’s called “shiny object syndrome.” They spend more than they bring in by purchasing every new tool that peaks their interest.
Ongoing checks of how much cash you have on hand decreases this attraction.
Outsourced Bookkeeping Services for Small Businesses
Without large budgets, small to mid sized businesses like yours can find a happy medium. Between hiring internally or overseeing the books yourself.
Granting a bookkeeper access to back-office operations delivers more freedom.
To brainstorm a strategy for growing the venture. Get on more sales calls. Or spend time with your family.
America was built by solopreneurs. Whether you’re still a one man operation or team, locating a quality bookkeeping service provider just got easier.
We’ll explain more as we wrap up.
Blue Slate Accounting Outsourced Bookkeeping Company
Something is missing from the bookkeeping field.
A human approach to personalized business services. Pittsburgh, PA is our home, but we’ve worked with small to mid sized businesses across this great nation.
Aiding their pursuit of a financially healthy venture.
Expect tailored recording from your personal Blue Slate Accounting team member:
- Matching receipts to bank and credit card statements
- Bank account, credit card, and loan reconciliations
- Applying customer payments to in-house generated invoices
- Accounts Receivable tracking and invoicing services, including reminder letters
- Accounts Payable tracking and bill payment services
We provide a quick, realistic weekly snapshot of your cash flow. Allowing you to make informed monetary decisions.
Outsource your bookkeeping solutions today. And
take the first step towards profitability and contentment in your business!









