Whatever your line of work, unless you are a professional accountant, trying to wrestle with your bookkeeping may not be the best business decision. Even if you are an accountant it may not be the best decision to make. As accountants you probably expect to hear that sort of thing from us, but let’s explore why we think so and then you can make a more informed decision.
It helps to have an expert on board
We would say that about any business. Whatever sector you operate in, you are doing so because you know your field and your business well. If you didn’t then you wouldn’t be running a successful business. So it is with bookkeeping. Getting it right could mean the difference between success and failure, so why try to keep it in-house when you are not best placed to do it? Getting a professional in will ensure that it is done right first time and that it’s completed in a timely manner, meeting all your legal and tax obligations.
That doesn’t have to mean that you hire a full-time bookkeeper. Outsourcing is an excellent option, allowing you to use as much or as little of your bookkeeper’s time as you need without incurring unnecessary overheads such as a full-time salary, pension, company benefits, or even finding desk space.
You can focus on running the business
Outsourcing those jobs that you don’t have the expertise to do gives you the time you need to run your business. You can focus on keeping things ticking over, growing, expanding, or diversifying – whatever it is that you want to do with your business, you can do it without any distractions.
It gives you the best tools for the job
As with any business, you want to have the best tools at your disposal for an effective and efficient job. Outsourcing means that you not only ask an expert to manage your books, but it also means that you do not have to pay out for expensive software or staff training in order to keep on top of the latest systems. Your chosen bookkeepers will have all those already and the price you pay will include that, saving you money. Keeping their systems up to date also means that you have regular back-ups – another thing you don’t have to worry about.
It offers scalability
Whether you are growing or downsizing, outsourcing such a service means that you can grow, shrink, or pivot your business as opportunities present themselves. And all without worrying about scaling up, or down, your bookkeeping capabilities at the same time.
You are ready when tax returns are due
No more rushing at the last minute to get everything ready to submit to HMRC. An external bookkeeper will have your books up to date, ready and correct so that you can get your tax return done on time and avoid late penalties or requests for extensions.
Looking for some help when it comes to bookkeeping or accounting? Why not talk to us at Hammonds Accountants? Get in touch for an informal chat or make an appointment to come and meet us by calling us on 020 8249 6328 or emailing us at .