For most businesses, selecting an online bookkeeper in favor of a traditional in house bookkeeper can be incredibly cost effective. Not only do you reduce your company outgoings in the way of taxes and salaries, but if your bookkeeper is on leave for any reason you won’t be left wondering how to fill out a multitude of reports. There is also the time you would dedicate to advertising for a bookkeeper, interviewing, cross checking references,etc. An online bookkeeper can be found easily with a little Internet research and a phone call or click of your mouse.
How do I find an online bookkeeper?
There are many online bookkeepers available, either in your local area or there are larger international companies online. Seek out reviews, check out their reputation, which services can they offer you? Research social media, people tend to vent and praise in equal measure on the likes of Twitter and Facebook – you will get an indication of the type of company they are. Look at company websites, do they look reputable? Have they got the correct accreditations and qualifications required to become your online bookkeeper? All of these questions should be answered so that you find a good, reliable and trustworthy company.
What can an online bookkeeper do for me?
Firstly, an online bookkeeper knows the software system they use inside and out, which makes your accounting simple to them. They know how to spot errors and erratic figures and they can correct them. Reports for tax returns and end of year fiscal reports can be actioned and printed out for you. If your online bookkeeper is authorized to deal with tax returns – that burden can be taken from you too. Any figures relating to accounts and receivable sales, payables, expenses and invoices can all be logged, processed and saved into a file, dated for you to check.
An online bookkeeper can also deal with payroll accounts. Employees can be paid directly, bonuses can be authorized and correct taxes paid to the authorities. It can all be taken care of for you. More explained in this post: http://www.your-home-based-business-ideas.com/online-bookkeeping-services-simple-solution-excellent-results/
Financial statements are the cornerstone of your business, if you aren’t aware or up to date with how your business is doing you will never discover how to move forward or expand. Each month the online bookkeeper can provide reports for you which detail your profit and loss, incomings and outgoings and you can then decide how to proceed.
The benefits of this are unlimited, by freeing up your own time you can concentrate on creating business and ensuring your workforce are catered for. In addition, with generation of all of the reports you need you have the opportunity to discuss and plan strategy. Where is your business gaining money? Should you invest more into a certain product? Is a specific product modification costing you too much to make and do you need to renegotiate with suppliers? The reports give you a unique insight into how your business model is working.
Once you have found the perfect online bookkeeper for your business, have a chat with them, discuss pricing and how they will benefit your company. When you are comfortable with your decision, hand the reins to them and continue doing what you do best.Continue reading »