What is Bookkeeping?

Bookkeeping is the practice of recording a company’s financial transactions regularly. When done correctly, bookkeeping can provide important information that business managers need to make strategic decisions.

Why Outsource Bookkeeping?

Bookkeeping is very complex. It requires specialized skills. If you try to keep your books, your employees may have to manage an extensive to-do list. As a result, they may feel overwhelmed by their responsibilities and need help to make time for their most important tasks.

Also, your employees can make costly bookkeeping mistakes that can land you in a soup. It is an excellent idea to outsource your bookkeeping to a bookkeeping firm. A bookkeeping firm can take care of all bookkeeping tasks to free your employees’ time for the work that matters. Bookkeeping experts have received specialized training that enables them to avoid mistakes. They stay up-to-date with complicated, ever-changing regulations and can help businesses avoid compliance issues.

Types of Outsourced Bookkeeping Services

There are two ways to outsource your bookkeeping: hire a local bookkeeper or use a virtual bookkeeping service.

A local bookkeeper is a bookkeeping expert or team of experts near your business. You will want to hire a local bookkeeper if-a)- you prefer face-to-face meetings over virtual meetings, and b) don’t use electronic payment systems and rely on physical records.

A virtual bookkeeper, on the other hand, handles your bookkeeping remotely using cloud-based software. Virtual bookkeeping services are usually used by businesses that want online access to their financial records. They prefer chatting with their provider’s team online rather than in person, like a flat monthly rate over hourly billing, and use online payment methods.

Outsourcing Your Bookkeeping

Outsourcing your bookkeeping is a strategic decision. The exemplary bookkeeping service can help improve business efficiency. When choosing a bookkeeping service, consider your bookkeeping needs and determine which one of the services you are considering can best meet them.

Here is a step-by-step guide to outsourcing your bookkeeping.

  • Do your homework- Talk to your fellow business owners. Ask them about their experience working with their provider. Check bookkeeping services at the BBB. Read online customer reviews to see what businesses are talking about the services you are considering. Visit Trustpilot, GetApp, and G2 to compare bookkeeping services.
  • Share information- Once you have chosen a provider, share financial data with the service. Before you share business information with a provider, understand what’s included in your service package and payment terms. Ask the provider to explain the measures they take to protect client data.
  • Set up communication channels- Some providers require clients to sign up for specific apps and communication tools. Old-fashioned services rely on email and phone communication to exchange client messages. Consider what works best for you. Ask your provider if you will get a dedicated account manager.

Virtual Jeannie Bookkeeping Services offers top-notch accounting services in Santa Rosa. Our experienced bookkeepers have the skills and expertise required to cater to the specific needs of businesses. To make an appointment, call (707) 664-1425.