How To Begin Outsourcing
For most small business owners, the initial months are all about juggling all the facets of your business while it is in startup phase. There comes a time however, when you have to start outsourcing the tasks that consume your time so you can focus on the overall management of your business.
Unless you actually enjoy doing your own bookkeeping this is one of the first tasks you should look at outsourcing. If done well it can benefit your business. If it is all left to accumulate, you can end up not knowing when accounts are due, how much money you are owed and the general financial state of your business.
Listed below are some of the things to look for when outsourcing your bookkeeping.
1. Referrals. Speak to other local business owners and find out who they use to look after their bookkeeping needs. Don’t simply rely on the fact that someone has advertised in the phonebook or local paper. You need someone with experience and someone you can trust for this position so it is essential to hire someone that comes highly recommended.
2. Cost. Compare the hourly rate of various bookkeepers and find out what the “norm” is. Some bookkeepers can charge exorbitant prices but are not always that good at their job. This is definitely one area where the money doesn’t always reflect the quality.
3. Location. Do you want someone to work from your office or are you happy for them to be a mobile bookkeeper? It pays to have them work from your office the first few times at least so that you can familiarise yourself with their work style and they can familiarise themselves with your business.
4. Communication. How well does your bookkeeper communicate with you? It is essential that you outsource to someone that you can communicate well with. There is no point outsourcing to someone that wants to keep control of all your accounting without bringing you up to date on a regular basis.
Ideally you want to outsource your bookkeeping functions so you can run a much more streamlined back office for your business. It is essential that your books are up to date and that you have a good grasp of where your business is financially at all times.