Managing your business bookkeeper and learning the advantages to outsourcing your bookkeeping needs
- March 30, 2015
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Outsourcing has become the main solution to most businesses wishing to cut down on their overhead and business expenses.
But is it truly possible to outsource everything to maximize your savings?
Most commonly outsourced jobs are related to those in the field of telecommunications, graphics and writing. Transcription is also one of the jobs commonly outsourced. As more and more jobs became outsourced, it also became evident that accounting and bookkeeping needed to be added to the market.
Outsourced accounting and bookkeeping services are pretty new to the business process outsourcing niche due to the fact that it deals with pretty sensitive information.
So how can you go about managing your business bookkeeper and maximize the advantages you can derive from outsourcing?
Constant and open communication should be established between you and your local, e.g. Northern Beaches bookkeeper. This means that all transactions and receipts you have either issued or received should be sent immediately to your bookkeeper for proper accounting and recording. An immediate transmittal via electronic means is an ideal solution so that the transfer is instantaneous. At the end of the week, the physical receipts should be sent via snail mail for proper recording and comparison between electronically sent messages regarding your purchases and business expenses as well as sales transactions, if any.
This process can then be duplicated on the second and succeeding weeks.
To properly manage your bookkeeper, request for a transmittal of all the recorded transactions you have sent in from the previous week. This information should already be in the books for proper accounting.
In a sense, there is going to be a constant exchange between you and your bookkeeper to keep each other updated on all the entries made in the books.
One way to properly outsource your bookkeeping needs is to get a company that offers this service. Although it is much pricier than outsourcing it to an individual, you can rest well knowing that the company you hired already has a set system to properly facilitate your bookkeeping needs. There is also a system of penalties should they fail to update your records on time.
Managing your bookkeeper will take a lot of vigilance on your part. You can monitor your bookkeeper at least once or twice a day to ensure that everything is going smoothly. This should probably take about an hour or two of your day but that time is well spent knowing that your books are in order if and when you need to have someone check your assets.