Should you outsource the bookkeeping or do it in house?
Join me, behind the scenes, as I explain what we’ve done and how we’ve done it.
We used to have the full-time bookkeeping folks toiling away with their green eyeshades. Not anymore.
By outsourcing the bookkeeping, we’ve:
- cut costs, including payroll and benefits;
- made expenses variable (costs increase and decrease in correlation to revenue); and
- substantially reduced managerial tasks.
When we first outsourced the bookkeeping, we took things slow. We didn’t have well-documented systems, but if you’ve already got thorough documentation, there’s no reason to take baby steps.
To get a feel for what’s possible, here’s some of what our bookkeeper handles:
- incoming invoices,
- recording deposits,
- invoice payments,
- reimbursements,
- payroll,
- revenue reports (daily, weekly, monthly, annual),
- reconciliation,
- vendor issues, and
- client billing/account issues.
We’ve been using this system for years with great success. Once you get your system in place, outsourced bookkeeping can be a wonderful relief—mentally and financially.
