Why Should I Outsource My Bookkeeping?

As a small business owner, have you ever wanted to outsource bookkeeping? When running a business, your main aim is usually to satisfy your customers and sell more of what you are producing or offering. So, the thought of taking time out to sort out invoices and ensure tax records are up-to-date can seem like a waste of time.

It isn't, of course. It's a necessity if you don't want to get on the wrong side of HMRC and face financial penalties.

But the 'sinking feeling' many company owners get when they have to use precious business hours on their income and expenditure accounts is one reason why thousands of company owners do outsource bookkeeping. And if you are a business owner, then there are other reasons it might be an idea to consider outsourcing accounting services:

• Cost savings: If your business is large enough, you may consider hiring a bookkeeper. But it could be far more cost-effective to outsource bookkeeping. For example, you don't have to worry about sick pay, holidays, or other costs for your business that comes with hiring a new staff member.
• Expertise: You benefit from a specialist's knowledge – someone who is fully versed in the workings of HMRC and the tax system and who knows what's best for your business when it comes to accounting practice. They will also file your tax return for you every year, so there's no need to worry about getting it in on time on your part.
• Best resources: Your outsourced accounting team will have the top tools and expertise for the job, i.e., the best online computing programmes and knowledge of the latest government tax regulations. They'll make sure your business doesn't lose out on any tax savings and is fully compliant with the law.
• Ongoing efficiency: If, for whatever reason, you ever need to look at a particular invoice or payroll, you will be able to access it at the touch of a button (or phone call to your outsourced bookkeeping service). That's because all your records will be neatly filed away and organised for that very purpose.
• Unbiased insight: Outsourced bookkeeping services provide an unbiased report of what is working and what isn't in your business in terms of financial receipts. You will be able to tell at a glance where losses are made and the parts of your operation where you may need to make cuts.
• More 'me time': An outsourced booking service means you don't have to spend your weekends or evenings 'doing the books' when you simply don't have time during the working day. Instead, you can relax. Meet friends for lunch, play a round of golf or take the kids to the local park. Enjoying your free time will also allow you to be more productive when you return to work.

Get in touch

Here at Keith Graham, we have a team of highly experienced outsourced accounting professionals. With their meticulous approach and expertise, not a decimal point gets missed, and each and every one of our clients enjoys a first-class outsourced bookkeeping service.

To find out more, you can contact us on 01252 312561 or email info@keith-graham.co.uk. See our website at www.keith-graham.co.uk.