Having a good bookkeeper on your side matters. In fact, local bookkeeping keeps your business competitive in many different ways. It’s easy for business owners to assume that they could stay more competitive by doing the books themselves and not shelling out for a new employee. It’s also easy to be wrong! Here are five of the many ways bookkeepers make it easier for businesses to succeed.
1: Bookkeeping means financial accuracy
Anyone can record transactions, but is that really what a business owner wants to spend their time doing? Most entrepreneurs are in it for the excitement of running their own business, for the chance to make money on their own terms, and for the freedom to be their own boss. They didn’t get into it because they wanted to spend hours poring over ledgers. That disinterest can lead to errors, especially if the owner doesn’t have much accounting training.
Bookkeepers, on the other hand, tend be numbers people. We enjoy seeing the patterns that appear in a company’s financial records, and making sure that the current numbers fit those patterns. Local bookkeeping keeps your business competitive because this is our area of professional training and focus. We’re more familiar with the principles underlying good accounting.
That’s not to say that a business owner can’t also have those traits. In fact, having an accounting background is highly beneficial in entrepreneurship. It’s just that owners always have so much else to do that working on bookkeeping can be a costly distraction for them. And this is the principle that underlies whether you should hire a bookkeeper, or anyone else: if you do, it means you can focus more on what you do best and find most enjoyable. That makes you both more productive and happier.
2: Accuracy leads to insight
The benefits of increased financial accuracy are manifold. Not the least among them is the possibility of avoiding problems with the IRS. The more professionally you can handle your books, the less likely you’ll end up owing the government a bigger chunk of your profits than you’ve already sent.
That’s because when you have quality bookkeeping on your side, you can see where there’s room for improvement. Instead of just focusing on getting the numbers recorded, you can take more time to analyze them. You’ll spot cost-cutting opportunities as well as areas that could benefit from increased investment. All of this can lead to a healthier company with more and better resources for the future.
3: Professional support
Obviously, at some point, you have to hire more people to help you if you want to grow. This is especially true when it comes to handling the back-office work. You can’t be everywhere at once, but as a business owner, if you’ve got to be somewhere, it should be close to the customers and the front-line action. That means you need people you can trust working behind the scenes.
Local bookkeeping keeps your business competitive by providing that kind of professional help. In this regard, it makes no particular difference whether you hire your own bookkeeper or work with a local firm like SyncLedgers. There are other differentiating factors, though.
4: Lower costs
Working with a firm like SyncLedgers means paying less for the same level of service. You’ll get all the attention your books need, and you’ll always be able to contact your bookkeepers when you need to. You’ll have direct contact with an expert bookkeeping manager in the local area, even as many of our professional and certified bookkeepers work remotely. That’s what keeps costs way down compared to getting your own staff.
With those lower costs, you can invest the difference. Not only do you get all of the direct benefits of having solid bookkeeping, but you also get to use these extra advantages to go even further on the course of company growth.
5: Minimal infrastructure
Since you don’t have to worry about hiring your own bookkeeping staff, you also don’t have to worry about finding office space for them. You don’t have to buy new computers and other office equipment; and you don’t have to get a whole bunch of new IT systems in place. You don’t have to go through the process of recruiting, hiring, and negotiating compensation.
SyncLedgers handles all of that. We find the best remote bookkeeping agents around, and we bring them on board. We make it easy for you to get as many members of a bookkeeping team as you need without having to spring for a whole new department within your organization.
You can see how SyncLedgers’ local bookkeeping keeps your business competitive!
If you’re looking for help managing your company’s finances in a secure, accurate, and professional way without unnecessary expenses, be sure to reach out to us today!