Should You Hire An Outsourced Accountant For Your Small Business?
/Outsourcing is one of the best decisions I’ve made as a freelancer. Working with experts has allowed me to focus on my zone of genius. As your business grows, you will start to see areas where you’ll need support. This support does not need to be full-time staff. Instead, you can build an outsourced team of freelancers to help with different areas of your business.
Start by writing a list of the tasks you do not enjoy doing within your business or tasks that take a long time to complete. One of the tasks I wrote on my list was graphic design. While I enjoy creating graphics, I am absolutely terrible at it and it takes me a long time to create something that isn’t even that good. For some freelancers, accounting and bookkeeping is a task that they want to outsource. While I believe you should learn how to manage your books, once you reach a certain threshold in your business it is wise to hire an expert to help you manage your finances. As technology improves, accountants are evolving the way they work with clients. To learn more check out this article, “Are Accountants in Demand?”
If you are unsure of whether you need to outsource your finances, check out the benefits below to help you decide.
Benefit One: Reducing your workload
Your outsourced accountant is going to be able to focus solely on your business and your business finance. This gives you space to focus on your genius zone. With that said, be sure you hire someone you trust and who understands the nuances of your business. Additionally, think of your finances like your health. Of course, you visit a doctor to get expert advice, but you are also an active participant in your well-being by eating nutritious foods and working out. The same is true for your finances. You need to remain on top of your cash flow and expenses even while working with an accountant.
Benefit Two: The financial savings
It’s so much cheaper to pay for an outsourced accountant than it is to pay for a full-time employee. Outsourcing finance will enable you to focus on your business while the experts focus on your money. It’s cheaper to ask for help when you outsource your payroll and your finance, so money should always be a factor!
Benefit Three: Keeping Up With Trends
The costs for newer technology for finance can far outweigh the costs of the experts who utilize it day to day! Working with an expert will help you keep your business innovative and current with the times.
Benefit Four: Improved cash flow
When you work with an expert who understands your business, they will be able to help you improve your cash flow. This will be done by either improving your invoicing processes and/or business strategy.
Business finances is the oxygen for your company and it’s necessary that you know how to manage yours. As your business grows and you consider outsourcing your accounting tasks, be sure you work closely with them. If you need recommendations on financial experts, feel free to message me directly at hello (at) moneyandmimosas (dot) com.
About Money & Mimosas: Money & Mimosas was started as a passion project by Danetha. A former NFL cheerleader turned entrepreneur, she started blogging as a way to combine all of her passions into a career. Money & Mimosas is now enjoyed by readers in over fifty countries with the same dream of achieving financial freedom without living frugally.
