If you’re still doing your own bookkeeping, then it’s time to consider outsourcing your accounting. There are many benefits to hiring an accountant, both financial and non-financial; below are some of the most common reasons why people decide to outsource their bookkeeping. If you feel that any of the reasons below apply to you, then it might be time to hire an accountant for your business!
Should you outsource?
It’s not always necessary to outsource bookkeeping for a company or individual, but there are times when it makes sense. There are also times when you should outsource bookkeeping.
If you’re self-employed and running a small business, outsourcing bookkeeping may be the best option for you. This is because it will free up your time so that you can focus on other aspects of running the business, such as marketing and sales. Also, if you’re a new entrepreneur who is still getting their footing with their idea and plan for the future, hiring an accountant may help you feel more confident.
If you run a corporate business that does extensive payroll and tax filings, then you’ll need to hire an accountant who specialises in these areas. The most obvious reason is because this person would have all of the knowledge and expertise needed in order to complete the work with ease.
Costs & Benefits
Outsourcing can often be a great way to save time and money for companies that are less than five years old. This is because they may not have the resources necessary to hire an accounting firm, or they are too preoccupied with other aspects of their business. Outsourcing also has numerous benefits, including: lower costs, higher potential for efficiency and accuracy, and greater accessibility.
Bookkeeping outsourcing requires trusting the accounting firm to handle your books correctly. RHJ Accountants keeps in touch with our clients throughout their accountancy process to make sure they’re aware of the progress we’re making; keeping you updated at all times. Feel free to get in touch with us today to learn more about how we can help you.
Things to Consider
The decision to outsource bookkeeping is a matter of preference. Some people enjoy being more hands on with their finances, while others are perfectly happy to have an accountant take care of the numbers.
There are some considerations to keep in mind when choosing this option:
- What are your financial goals?
- Do you want an independent professional opinion on where you stand financially?
- Are you prone to mistakes when it comes to bookkeeping?
- Do you have enough time to commit to something like this?
- Would outsourcing be a better alternative for your business needs?
- Do you want the assurance that everything will be done correctly and in a timely manner by someone who is qualified for the job?
RHJ Accountants can help you decide whether bookkeeping would benefit you or your company, whether you answered yes or no to the questions above – speak to us today,
Where Do You Start?
If you want to outsource your bookkeeping, the first step is to determine if you want to outsource the entire process or just some of it. Then you’ll need to decide what type of accountant would be best for you. Accountants come in all shapes and sizes, so this part may take a little bit of research on your part. Some accountants specialise in tax preparation while others are experts at managing complex accounting functions.
At RHJ Accountants, we offer a variety of accountancy services, from personal tax planning to international tax planning. Contact us today to schedule your free 15-minute meeting.
How RHJ Accountants Can Help
We recognise more than ever that individuals and businesses from the UK and other countries may be globally mobile. We aim to make you aware of the tax-efficient opportunities, available tax relief and structure finances for life at home and abroad.
Our international team of specialists operate from offices in the UK and Portugal. We work together synergistically to provide tax efficient solutions to our clients to help them grow their business whilst keeping tax liabilities to a minimum.
Get in touch with us today to find out more, or to make use of our services.