In the era of the internet, there is no shortage of options for outsourcing business services. Accounting and bookkeeping are no different. But outsourcing could leave you with several questions about the process, cost, and making good decisions. 

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Why should you consider outsourcing? 

While it may be true that outsourcing will cost you money, it is ultimately a long-term investment. Outsourcing means you do not have to maintain an individual on your staff to do the work. You can hire a bookkeeper to do the record-keeping and an accountant to handle the tax paperwork as needed on an independent contractor basis. Because of the increase in competition, hiring bookkeepers and accountants in this way tends to cost less than having someone on your staff do it. 

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Additionally, since you can outsource through the internet, you have far more options to choose from. You can find an individual or firm that is familiar with your business model and fits your pricing and scheduling needs, and you can more easily vet them through online reviews.

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Ultimately, outsourcing also means you are contracting with a professional who is trained in financial recordkeeping and tax preparation. This means you don’t have to spend hours deciphering the financial side of your business on your own or with a staff member, so you can focus on more important aspects of the company.  

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How does a company choose the right firm? 

Just as you would choose any business, you can rely on good reviews, reputation, education, and services provided to choose the perfect accounting and/or bookkeeping person or company. Even though you might not be able to meet in person, online conferencing options are available to get to know the person you could potentially be working with. 

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A good individual or firm should have an excellent reputation and many clients to back up their credibility. After you’ve verified a good customer service history, consider the same things you would normally look for, including their knowledge of your industry and the complexity of your needs. 

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What are some tips on outsourcing? 

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• Assess your needs and expectations. When you determine the specifics of what you need from the person or firm you’re looking for, it’ll be easier to find the perfect fit and articulate those needs as you narrow down your choices. 

 

• State your expectations in conversations with potential hires. Conduct interviews with individuals or firms to confirm you are on the same page about your business requirements when it comes to accounting and bookkeeping. Trust your gut as you go through the possibilities. 

 

• Don’t write off local services. While internet searches may generate national options first, scroll a little further and consider reputable local individuals or firms as well. Having someone in town can be helpful and you can get recommendations from people you know and trust. 

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If you find the right individual or firm to handle your bookkeeping and accounting, the initial cost is well worth the long term rewards: Peace of mind, assurance of accuracy, and time to get back to doing what you love within your company!