There are three bookkeeping options to consider when starting and running your own business: do the work yourself, hire a part or full time employee, or outsource to an accounting firm. In the beginning, it is common for many business owners to do the work themselves. It can quickly become too time consuming or complicated for the owner to handle alone. Also, when payroll is involved, there are numerous rules and regulations that are critical to preparing payroll correctly. But does it warrant the investment in a part or full time employee to take care of the task? This is when outsourcing to an accounting firm is the perfect option to consider. Some important questions to consider are:
* How many hours a week/month do I spend doing bookkeeping work?
* Could my time be more productively spent managing and focusing business activities to grow my business?
* Do I struggle with the accounting aspect of the bookkeeping work?
* Am I getting adequate reports from my bookkeeping to run my business efficiently?
* Are my records up to date and accurate?
* Am I comfortable with my understanding of the state and federal rules and regulations related to providing payroll to my employees?
There are several benefits to outsourcing the bookkeeping functions of your business:
* Save valuable time and resources that can be used to focus on business management
* Increase efficiency and timeliness of accounting activities
* Accurate bookkeeping records from accounting professionals
* Effective reports to help you make better business decisions
* Services can range from just one function such as outsourcing accounts payable or payroll to complete bookkeeping functions, depending on your needs
Please contact Ritter Adair & Associates to discuss in office or outsourced bookkeeping options.