Entrepreneurship is one way to create self-employment. Most people are in Small and Medium Entrepreneurship (SME) businesses ranging from services and trading operations. In business operation, finance and accounting are ingredients to the business’s success. However, most SMEs have failed to set up sound financial structures. This article will highlight why you should outsource accounting bookkeeping services for your business. An outsourced bookkeeper will help prepare the business accounts books.
In business good record keeping is very important, every expense and income should be well captured and accounted for. In the daily operations of most SMEs, the owner is usually in control they occasionally use part of the business money for personal expenditure, and take goods for their own consumption with accounting for them as drawings. These are some of the biggest challenges that SMEs have.
To address these challenges a business owner can hire a bookkeeper, this is an outsourced freelancer accountant instead of hiring a full-time accountant.
An outsourced bookkeeper can perform duties such as:
- Accounts Payable (creditors) billing and payments
- Accounts Receivable (Debtors) invoicing and receipts
- Sales and Revenue Processing
- Bank and Cash Books Reconciliations
- Payroll Processing
- Inventory management (stock count and adjustments of stock cards)
Income statements preparations; profit and loss statement, balance sheet and cash flow statements.
Why hire accounting bookkeeping services for your business
The following are some of the reasons why as a business person you should hire a bookkeeper:
1. Time to focus on other business issues
As the bookkeeper helps in accounts book preparation the business owner can focus on other business activities such as marketing.
2. Cost Savings
Hiring a bookkeeper saves on costs such as salary that would have been paid to a full-time in-house accountant.
3. You have Expertise at your disposal.
Eyeing a fully qualified accountant may be expensive for a business, for a bookkeeper you can have a fully qualified one who has experience.
4. Improved accounting systems
A bookkeeper may have better accounting systems that are up-to-date and that match your business, some of these such as the accounting systems are expensive to buy and operate.
We offer bookkeeping services, you can order a request by filling out this form
