How does bookkeeping work?
As the name implies, bookkeeping means keeping your books up to date. That means every figure, inflow, outflow, and expenses on the record. With someone who understands bookkeeping tips, you will also be looking at previous quarterly records, and calculating projections for the future, including figures such as cash burn, cash health, and so much more.
A grueling task, but for a business that wants to succeed, bookkeeping isn’t just a record, it’s a tool to use for the future. In the hands of a truly talented accountant or CFO who has learned how to improve bookkeeping - it can redefine your business strategies.
Professional accountants are more than just glorified number crunchers. With the right tools and training, they can become strategic advisors to your company. They can identify weaknesses and strengths within the company. They can foresee problems before they become serious. They can view surges in the markets far earlier than would otherwise be possible.
In short, they can allow you to become a pro-active business, instead of a reactive one.
Benefits of Outsourcing Bookkeeping
Until recently companies only looked at two options:
- In-house Bookkeeper
- Doing it themselves
Having an in-house bookkeeper can be useful of course, however for a truly reliable accountant or CFO, rates are extremely competitive. For small start-ups, this generally isn’t a viable option. However great the benefits are, the financial flexibility is simply not available.
Doing it alone is practically impossible. You’re not only running, organising, and expanding your business, but you are then having to endure a daily onslaught of figures and formulas. Unless you plan on abandoning a sleep schedule, consuming a dangerously large volume of caffeine and learning the Accountancy trade at the same time - there’s no chance.
That’s why outsourced bookkeeping combines professionalism with affordability.
Outsourcing makes much more sense from a business perspective. For example - an in-house bookkeeper is limited by the software and technologies of your company. If you don’t have the resources to ensure that they have the automated software and AI programs, then they are unable to serve in the full capacity that is otherwise possible..
If you outsource with a reliable company, not only do the accountants have their own, professional-grade software, but you’ll also find an extremely high level of skill application within their software. It’s also easily able to integrate with your own pre-existing software!
You’ll also find that outsourced bookkeepers have a much greater drive to succeed. After all, not only do Accountancy Cloud ensure rigorous standards, but we don’t succeed as a company unless YOU succeed with your business. This symbiotic relationship ensures that our accountants will go the extra mile for your company.
How does Outsourced Bookkeeping work?
‘It’s just like hiring a part-time bookkeeper, right?
Part-time bookkeepers are one thing, and indeed they are a viable option. Our trusted partners at Juggle Jobs offer fantastic part-time bookkeepers at competitive rates. However an accountant or CFO must grow with your company. There will come a point, after the success of your start-up, that your financial information and business analysis will become so complex, you will require full-time attention and services.
This is why you should outsource bookkeeping immediately - start as you mean to continue! With outsourced professional bookkeeping services, you not only receive highly skilled accountancy services, but the intelligent software and programming that comes with it, make it feel like you have a full financial team at your disposal, without the added salaries! After all, you shouldn’t have to compromise between professional services and affordability. And now you don’t have to!
The highly intuitive nature of our Accountancy Software is part of what makes outsourcing worthwhile. With Artificial Intelligence, it can complete mind-numbing essential tasks in a fraction of the time without the cost of added workforce, and it can keep financial information on the cloud and ready to view at a moment’s notice. With a number of easily customisable systems and graphs, the software provides clear, concise coverage of every part of your business at the touch of a button.
So there you have it. No sleepless nights, no searching for the funds to support an in-house accountant. Just flexible, professional standards that can get the job done, and produce results, without the sizeable costs involved.