In any business, a capable bookkeeper is an essential asset to have. Large corporations often have an entire team of bookkeepers in-house to deal with financial tasks including cash flow, taxes and more.
When smaller businesses are concerned though, there often isn’t enough funding to employ an entire team as well as rent dedicated accounting offices. This is where remote bookkeepers come in most helpful.
A remote bookkeeper, like Larsen Bookkeeping, are able to provide the same solutions and services as their in-house counterparts without requiring such a large initial investment. Remote bookkeepers for small businesses focus on providing services via cloud platforms like Quickbooks. That means your business is only obligated to pay for the time individual bookkeepers work and not a full-time salary.
Let’s take a look below at why you should certainly consider a remote bookkeeper for your small business.
Get More Done for Less
On top of remote bookkeepers costing less to hire, they are also able to get more done in less time. That means you’re boosting your business’s efficiency and paying less to do it.
According to a Harvard Business Review study, bookkeepers working from home actually get their work done faster and experience higher job satisfaction than those working in dedicated accounting offices. This translates to happier and more efficient contractors for your small business.
Lastly, a bookkeeper working for your small business isn’t a full-time employee of yours. That means you’re not required to pay a full salary, their taxes or even various benefits. All you’re really required to pay is their hourly rate and possibly the subscription fee for a platform like Quickbooks.
Increase Profits by Spotting Losses
Small businesses can also greatly benefit from a remote bookkeeper as they’ll have a trained eye looking over their finances. You can request that your bookkeeper conduct a monthly cash flow analysis for you to look over and you’ll be able to more easily spot where money is going and how to increase your profits or spot unintended losses.
This will also help you spot overdue bills and remind you to notify clients of unpaid invoices.
Hours are More Flexible Hours
If you choose to work with a single bookkeeper or a small team of remote bookkeepers, you’ll find that the work hours are a lot more flexible than those of a dedicated accounting team. Rather than a strict nine to five, there’s a good chance you might be able to plan ahead and request phone calls or projects to be completed after hours.
On top of this, depending on your remote bookkeeper, the likelihood of vacation days and sick days is far lower as your bookkeeper may be able to work while these events are happening.
Easier Data Management
Unlike in a traditional workplace, remote bookkeeping requires all data to be stored online in cloud platforms. That means your data will almost always be secured and ready to access at all time and your business’s financial documents will be recorded automatically in accordance with taxation and other IRS laws.
Give Yourself More Free Time
An important aspect to remember is that a remote bookkeeper will take a lot of work off your plate and allow you to focus on other things - like running your business. It’s common for small business owners to undertake practically every business workflow themselves, from the marketing, accounting and the services they provide. This makes it easy to become overwhelmed and flooded with work, so it’s a great idea to delegate at least some of your work to a remote bookkeeper.
Remote Bookkeepers Can Help Grow Your Business
As remote bookkeepers like Larsen Bookkeeping work with more than one business and deal with day-to-day finances they’re far more likely to get a deep insight into your business very quickly and learn how its financing works. Sharing this information with you, remote bookkeepers are able to help you direct your business in a more profitable direction.
A great remote bookkeeper will keep watch over your accounts and make sure you’re out of any serious trouble. On top of this, they’ll make sure that you know about any issues before they get too big to deal with.