Outsourced vs.
In-house Bookkeeping
As a professional business owner, you may be wondering "Should I pay an in-house employee or outsource a business to handle my bookkeeping?"
Let's discuss some of the common reasons businesses choose to outsource their bookkeeping to us.
Cost Savings
Direct Cost Savings: Outsourcing can reduce payroll expenses, benefits, and trainings costs associated with in-house staff. We are not an employee, therefore no additional fees associated with payroll, benefits or training us!
Indirect Cost Savings: Savings on office space, Technology and supplies. Since the cost of the accounting software is built into our fees, the only thing you will be paying for is your bookkeeping!
Access to Expertise
Professional Expertise: We have trustworthy staff with formal schooling and knowledge of best practices.
Regulatory Compliance: We stay up to date with the latest regulations and tax laws, ensuring compliance.
Reduced Errors: We live and breathe bookkeeping which means reduced errors and accurate financial records.
Scalability and Flexibility
Scalability: Our bookkeeping services are tailored to your needs. Together, we will come up with a package that works for you.
Flexibility: As your business grows, our services provided can grow with you.
Access to Advanced Technology
Latest Tools and Software: We use the latest accounting software and tools. Whatever discounts we get, we pass on the savings to our clients which means more money for your business!
Data Security: We have bank- grade security measures in place to protect sensitive financial data. We have multiple security measures in place and we only share information with our clients via secured applications. We are also fully insured!
Risk Management
Fraud Prevention: Third-party oversight can reduce the risk of internal fraud. We will have our eyes on your books and financial accounts weekly and will quickly alert you if we see anything out of the ordinary.
Error Detection: We have multiple layers of review to catch and correct mistakes promptly.
Control and Accessibility
You will have continuous access to your financial data and will retain control over financial decisions. At Williams Bookkeeping & Beyond, we work with you. The way we set up the accounting software, you will always have owner access to it and we will have accountant access. You can log in at anytime and check your books out. While you will work with us and (ideally) a CPA, you will always make the financial decisions. We typically ask for view-only access to financial accounts and therefore will not have direct access to your money.