Bookeepers and Accountants

Do you utilize the services of an accountant 

  

or bookkeeper?

 

Many small business owners are so involved with the day to day operations of their business that they really don’t have the time or special skills necessary to handle the bookkeeping and accounting for their business.  Granted, with today’s technology such as Peachtree Accounting and Quickbooks it is easier than ever for non-accountants and non-financial minded business owners to manage their own day-to-day accounting activities.  Even with this software many companies hire an in house employee to perform the bookkeeping and accounting activities for the business.

 

Hiring someone to work on the bookkeeping for your company is a good idea because it lets the business’ owners and managers focus on growing the customer and product base.  Everyone knows that hiring employees is an expensive activity. Bookkeeping and accounting are the first area to consider outsourcing.  Many times it is more cost-effective to hire an outside firm that specializes in accounting and bookkeeping than to hire an in-house employee to do the work.  The main reason it is cost-effective is that your business doesn’t have to pay payroll taxes, benefits, and vacation time, not to mention the office space, software, and computer equipment costs associated with an in-house accountant.  One other thing to consider is most accounting firms are bonded and insured. In the rare event that a mistake happens you are more secure by having a third party do your accounting and bookkeeping than by doing the work in-house.    

Filed Under Financial Environment, Human Resources | Leave a Comment  | March 13th, 2010

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