For freelancers and small business owners, the question of when to hire a bookkeeper is a common one. This is because a lot of freelancers and entrepreneurs have grown used to wearing many hats. As their business grows though, they may find that DIY bookkeeping isn’t sustainable.
If this applies to your situation now, you might be wondering if outsourcing your bookkeeping is advisable. After all, isn’t the cost of outsourcing too high for small businesses? Plus, aren’t there issues about safety in outsourcing?
Before you decide against outsourcing, make sure you have all the facts and are avoiding certain myths. Let’s talk about some of the myths surrounding outsourced bookkeeping services.
Myth #1. Outsourced Means Overseas
Yes, there are offshore entities that offer bookkeeping services, and you can opt to hire them, but there are also plenty of U.S.-based companies that provide the same services.
If your concern is you need someone you can get ahold of fast in case you spot some issues, you can hire a local outsourced bookkeeping company. You just have to do your homework so that you’re hiring the best one for your company’s needs.
Myth #2. In-House Bookkeepers Have More Experience
Of course, experience in bookkeeping is important, but are in-house bookkeepers better? Those employed by outsourced bookkeeping and accounting companies would have to disagree.
Remember, the owners of these companies are also running a business. They know that if they hire bookkeepers who do sloppy work, their reputation will suffer. If they want to keep their old clients and attract new ones, it’s a given that they must provide excellent bookkeeping services.
Myth #3. Outsourcing Your Bookkeeping Will Cost You More
Hiring a bookkeeper seems more costly compared to using bookkeeping tools, and there are many bookkeeping software options to choose from. It doesn’t mean though that the one you’ll pick will solve all your bookkeeping problems.
Also, if you’re not able to maximize its use, it will end up as a waste of time and money. As a business owner, you should be focusing on growing your company, not trying to figure out how bookkeeping platforms work.
Myth #4. Your Financial Information Isn’t Secure
Sharing your books with an outside bookkeeping company can be scary, especially if you don’t know how they store their data. Therefore, it’s important to work with an established company. They know the importance of using the most up-to-date technology available.
That usually means cloud storage, coupled with file-sharing programs that use cipher encryption. Now, if you’re worried about a data breach, know that outsourced bookkeeping services are aware of the security risks. They have procedures for managing those risks and will do their best to keep their clients’ financial information secure.
Do You Still Have Questions About Outsourcing Your Bookkeeping Needs?
Now you know the myths about outsourcing your bookkeeping. Are you considering hiring an outside company to take care of your bookkeeping needs?
If yes, we can help. Don’t hesitate to contact us if you have questions about outsourced bookkeeping services. You can also continue browsing our site for more bookkeeping tips and advice.