Let’s be honest here, you started your business because you have drive, passion and a dream.  You didn’t start your own business because you love spending hours each week hunting for receipts in the glove box of your car or down the back of the sofa.  Your dream didn’t include entering numbers into a spreadsheet every Sunday evening right?

Bookkeeping is necessary, it has enormous value and is the foundation for giving you a much needed view of how your business is performing.

96% of businesses fail because they do not have that visibility.

Now that we have cloud software such as Xero there is no need for spreadsheets and financial reports can be produced at the touch of a button, however this is only worthwhile if the figures are accurate and correct.

Rubbish in = rubbish out.

As a business owner you need to be on top of your game, monitoring the performance of your business with a clear understanding of what those numbers actually mean.  Without this you can’t make any informed decisions or plan effectively.  This is when businesses fail.

We understand that it can be difficult to let go of the reins and hand over your finances to someone else, it’s a difficult mindset to change but change you must.  You won’t achieve your vision sat at the kitchen table doing your own bookkeeping in the evenings and weekends when you want to be spending that precious time with your family and friends.

So, what can you expect when you outsource your bookkeeping?

# More time

More time to provide value to your clients. Imagine if the time you are currently spending doing your own bookkeeping could be spent on improving your service, adding value to your clients.  Not only would this mean you maintain very happy clients who would stay with your company for a longer period of time, but you’d also likely receive more customer referrals as a result.

# Increased Focus

One of the main reasons clients come to us is that they are struggling to focus on the key areas of their business, the actions they want to take and the objectives they want to achieve.  Remember if what you are doing now is not contributing to your overall goal then you shouldn’t be doing it.

# Less Risk

You are not a trained or qualified bookkeeper.  That means that you will without doubt spend double if not more hours bringing your accounts up to date than it would take a trained bookkeeper.  Also with a qualified bookkeeper the finances would be correctly entered and accurate.

Bookkeeping mistakes are common and can have dramatic consequences to you as a business owner.  Underclaiming / overclaiming expenses and VAT are just one of many common mistakes made.  Errors in your bookkeeping can lead to HMRC investigations, penalties and subsequent cashflow problems.

# Access to a highly trained expert

By outsourcing your bookkeeping you have a qualified professional on tap.  They are continually learning and developing their own skills hand in hand with the latest technology to improve efficiency.  Leaving the experts to what they are good at leaves you to focus on what you are good at.

# Efficiency

Using the latest systems and tech will benefit you.  It makes your bookkeeping processes more efficient and more accurate.  Giving you the visibility of the numbers so you can make better decisions.  Also you don’t have to buy the tech as your bookkeeper will already have everything that is needed. 

# Less stress

If you handle your bookkeeping in house you have to be prepared for sickness and holidays and that time has to be made up.  When you outsource your bookkeeping you no longer have that stress, it all gets done regardless of what your schedule is and the deadlines get met without you having to worry.

# Saves money

Many business owners do their own bookkeeping because they believe it is saving them money.  The reality is, your time is worth more in bringing in new business, developing the business and building those client relationships, not coding transactions.

# Less resources required

Small businesses do not need an in-house bookkeeper.  By outsourcing your bookkeeping you can avoid paying employee overheads such as sickness, holiday, payroll taxes and training costs which will in turn improve your profit.

# Allows growth

By freeing up your valuable time to focus ON the business, and having reliable, accurate financial information to make the best decisions with confidence, you will be in a better position to achieve your vision.

# Less resources required

Small businesses do not need an in-house bookkeeper.  By outsourcing your bookkeeping you can avoid paying employee overheads such as sickness, holiday, payroll taxes and training costs which will in turn improve your profit.

# Allows growth

By freeing up your valuable time to focus ON the business, and having reliable, accurate financial information to make the best decisions with confidence, you will be in a better position to achieve your vision.

For your business to be successful you need to understand the financials because without this understanding you cannot measure how your businesses profitability.  It starts with good bookkeeping.

Do you need an outsourced bookkeeping service?  

We work with many amazing businesses across the UK and beyond!

Book a call with us today: 

Book My Discovery Call

Leave a Reply