How Will Outsourcing Your Accounting Duties Help You?
THE BENEFITS OF OUTSOURCED ACCOUNTING
What’s one of the most proficient and cost-effective ways to reduce operating costs, get rid of the frustrations that come along with bookkeeping, and free up time so that you can focus on what really matters—growing and managing your business? The answer is outsourcing.
The term outsourcing may sound a little more complicated than it actually is. Outsourcing accounting functions is simply working with an external party to satisfy the tasks of the critical bookkeeping processes. This will allow your business to save precious time, labor and money.
OUTSOURCING IS TIME-SAVING
As a serious business owner/manager, you are busy answering emails, meeting with clients, and building your business. If you feel like you don’t have enough time to properly manager your books, are cutting corners because you don’t really understand how to do bookkeeping, or you just want the flexibility and peace of mind that comes with knowing your books are well taken care of, outsourcing could be for you.
Let me see if this sounds familiar to anyone: It’s tax-time. You, as the business owner/manager, are scrambling through old bank statements, credit card statements, and a box full of faded receipts trying to organize your business’s expenses for the year. So you’ve found the total dollar amount of all expenses, but Uncle Sam wants them broken out into categories. Now what do you do?
Since JF Consulting maintains your general ledger and all supplemental schedules, your year-end work and time commitment will be considerably reduced. That translates into faster turnaround time in preparing tax documents, financial statements, and business reports.
OUTSOURCING IS COST-EFFECTIVE
Hiring an in-house bookkeeping will be more expensive than outsourcing with JF Consulting. The cost of an employee is not limited to just salary but also includes payroll taxes, insurance, and workers’ compensation. Additionally, employees get sick, take time off, and take personal days. According to Salary.com, the average salary for a bookkeeper is $39,096. Remember that this is just the salary cost; we mentioned the other expenses related to an employee. With today’s technology, JF Consulting can provide services from virtually any location in the United State at a fraction of the cost.
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