3 Ways A Professional Bookkeeper Will Save You
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
3 Ways a Professional Bookkeeper Can Save You Money
When it comes to managing finances, many small and medium business (SME) owners try to handle their own accounts or hire a bookkeeper directly. While this can work if you find an excellent bookkeeper, without a solid accounting background or knowledge of accounting software, it’s challenging to know the right questions to ask during the hiring process.
Even if a candidate seems perfect on paper, you might not realize their shortcomings until it’s too late. Over 50% of our clients have had negative experiences hiring bookkeepers on their own. In the first week of working with us, we often uncover issues such as:
- Double payment of creditor invoices
- Underbilling of revenue
- Incorrect GST coding, leading to underclaimed GST credits
- Mistakes in calculating superannuation and payroll taxes
These errors can be costly, even devastating, for some businesses. Here are three significant ways hiring a professional onsite bookkeeper can save you money:
1. Focus on Your Business Growth
The idea of working on your business rather than in it is fundamental to business success. By outsourcing your accounting tasks to a professional bookkeeper, you allow them to handle all your accounting duties. This not only ensures you receive accurate performance reports but also frees you to concentrate on growing your business without the added worry of monitoring bookkeeping quality.
2. Onsite Bookkeepers Understand Your Business
Some bookkeeping services manage your accounts remotely, which can complicate document transfers and detract from building a deeper understanding of your business. An onsite bookkeeper works directly at your premises, gaining valuable insights into your operations and key performance indicators. This knowledge allows them to provide more meaningful management reports tailored to your business needs.
3. Expertise Matters
Not all bookkeepers are created equal. Skill levels can vary widely, much like the difference between an apprentice carpenter and a seasoned builder. A professional bookkeeping firm boasts accreditation in your accounting software and employs qualified accountants to support their team. This ensures you receive a management-level accounting service that goes beyond basic data entry.
Leveraging professional bookkeeping services can significantly enhance your business's financial management, saving you both time and money.
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