If you’ve been reading this blog, I hope we’ve given you some idea of the value of outsourcing your bookkeeping and other financial tasks to a virtual accountant. It’s one of the most effective ways that a small or growing business can save both time and money, freeing up resources so that you can focus your energies on more crucial activities. This being said, we understand that you may still have some reservations about handing over your finances to an outside team who promises to manage it all “in the cloud”. While cloud computing has become a hugely popular trend in the past few years, we understand that it opens up some new concerns. One of these is the matter of how safe it is to transmit your financial information to a virtual accountant.
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We’re living in an age where outsourcing has become a common practice for almost any business. To outsource all non-core functions, and focus your energies on the core activities seems to be the watchword of the day. Not surprisingly, accounting and bookkeeping are among the services that are commonly outsourced, and if you spend any time on this blog, you’ll know that there are a lot of reasons why this makes great sense. These are among the most time-consuming of tasks in the management and running of your business, and you can use the time for much better purposes. At the same time, you’ll be putting your vital financials in the hands of a team of skilled professionals, who, frankly, can be expected to do a much more efficient and accurate job of it than you or your staff can.
Thanks for taking the time to read this blog, brought to you by the pros at Keeping Your Balance, a virtual accounting firm. A lot of what we discuss here are the various advantages to using a virtual accountant, in contrast with managing your books on your own, or hiring in-house accountants and bookkeepers.
As a business owner you have likely worked in a variety of capacities in your business. Limited resources during the early stages of a business often make it necessary for an entrepreneur to fulfill many, if not all, of the roles related to running the company. But as your business grows it will become necessary to bring in the help of certain professional services in order to get everything done and help your business run more smoothly.
Are you the owner of a small, growing business? If so, can I ask you a question? Did you start out as a one-person shop? I’m going to take a guess that you probably answered yes to that question. If not, I’d wager that you started with just a few people, maybe some family members or close friends who helped you in their spare time. I don’t know too many small business owners who didn’t, at least for some period of time, try to manage it all on their own, or with as little help as possible. At some point, though, it becomes absurd to try to do it all yourself. The demands on your time, energy, and attention reach a point at which you just can’t do it all. That’s the time when you’ll need to make a decision - to either hire more staff, or to outsource some of the work. For most businesses in today’s world, it ends up being a combination of the two. The current trend, quite understandably is to outsource the functions that don’t relate directly to the production of your offerings, and keep in-house those that do. This way, you’ll be hiring people with talents that further the development of your products or services, and delegating the rest to experts outside of your immediate staff. Not surprisingly, bookkeeping is one of the functions that is most commonly outsourced to a third party.