An organization is only as good as its financial statements. The moment your reports become unreliable is the moment your business decisions lose their effectiveness. Hiring an in-house accountant to get your books in order will work well at first, but there may come a time when you benefit from hiring an outside bookkeeper. Outsourced bookkeepers will ensure that your books are accurate, of course, but they can do so much more than that. A quality outsourced bookkeeper will know the industry’s best practices and can offer recommendations to get your books on track. Their customized approach to managing your finances and their quick turnaround times can be invaluable when you need to navigate the obstacles and opportunities that come your way.
Reliable data will keep you well-informed of the goings-on of your business. And when that data is efficiently reported, you will be able to pivot your strategy on a dime. Good data will feed you details about overall performance, let you know your cash needs, and let you know when you’re in need of resources. In other words, it will inform you of the real-time consequences of your strategic decisions.
Consider a business scenario that necessitates you act quickly – in the next few days or even in the next few hours. Are your employees able to produce the reports needed to evaluate your current standing? Does your existing accounting software support those needs? Is the information up-to-date already, or do employees need to “catch up” to the current day’s activities? If you cannot answer ‘yes’ to each of these questions, you are at a disadvantage. The inability to access the most applicable information at just the right moment inhibits your ability to make good decisions and jump on those unique opportunities before your competition does. Outsourced bookkeepers can provide reports quickly, just when you need them.
To make important business decisions, you will want to see more than just the balance sheet and income statement. Outsourced bookkeepers can customize reports that meet your needs. Once your bookkeeper gets to know your operations and is comfortable with your organization’s growth strategy, they can anticipate the reports that you need. These reports can be pulled quickly and efficiently through a user-friendly, intuitive dashboard. And of course, your bookkeeper can teach you how to request those reports and show you how the system will work to your advantage.
Any accountant can record debits and credits for you and your business. However, if you hire a reputable bookkeeper, you can get more bang for your buck. You will have regular touches with those working on your accounts and the ability to ask questions and receive timely answers, as well as you will be able to reach the company’s bookkeeping managers and financial controllers. These experts will ensure that their team is running smoothly and efficiently, and they will be there to help you form your bookkeeping strategies. How you keep your books can affect the outcome of your financials, so an expert who is there to help you make those decisions will be invaluable.
Peace of Mind
Hiring a bookkeeper outside of your organization will provide you with experience that you, yourself, may not possess. An external bookkeeper will have experience with clients in all types of industries. Not only can they provide you with industry-specific deliverables, they can apply the lessons they have learned from working in other industries to your business to help you improve your financial strategies. You will have peace-of-mind knowing that your financials are in professional hands hence providing you with the capabilities to evaluate situations to make the best decisions for your business.
Dependable data is the backbone of efficiency; ultimately, you want your books to indicate progress and growth. A quality outsourced bookkeeper may be the solution you are looking for. They are just a click away. Here at Keep Financials, we like to say, “We keep your books. You keep your time.” Our team helps relieve you of the everyday stressors of worrying about the books so you can focus on running and growing your business. If you have any questions about our services or would like to discuss how we are able to help, contact us today. We look forward to speaking with you soon.