![]() ![]() Though the process might look different for small vs. Outsourced bookkeeping services are a symbiotic relationship between your business and a third party that will balance your books. They’ll take it from there, generating financial reports, ensuring your ledgers are up to date, and tracking money that goes both in and out of the company, among other essential tasks. It leaves room for everyone in-office to be solely focused on their own tasks and can eliminate the cost of an in-house bookkeeping team.Įssentially, you’ll give a third-party bookkeeper access to important financial information like bank statements, payroll, tax documents, and your accounting software. Oftentimes, a bookkeeping service is essential for business growth and health. What is outsourced bookkeeping?Īn outsourced bookkeeper is a person or company that will perform your bookkeeping tasks out of office. Without a great bookkeeper, your company could be losing thousands of dollars each period. All these seemingly small tasks combined create one big job. Bookkeepers also handle payroll and payroll taxes, send invoices, handle accounts payable and keep track of overdue accounts. They perform the preliminary functions needed in order for the accountant to do their job at the end of each period.īookkeepers use an accounting journal or an online accounting program to keep track of each transaction and the purpose of the transaction. Bookkeepers are responsible for keeping record of all financial statements and transactions made by a business. While a certified public accountant (CPA) will provide insight and analysis of your financial data, bookkeepers will get into the nitty gritty of your day-to-day transactions. To help navigate your options, we’ve put together a guide to outsourcing bookkeeping. ![]() It’s becoming more and more common for businesses to outsource bookkeeping to take care of the pesky task of handling financial transaction records. Luckily, accounting and bookkeeping don’t have to be the business owner’s responsibility anymore. It’s easy to put bookkeeping and other back-office tasks on the back burner. The process of recording all financial transactions is often challenging and stressful, as there are many other important day-to-day tasks for startup business owners to handle. Bookkeeping can be a headache for big and small business owners -so much so that 46% of business owners said it was their least favorite task. ![]()
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