Most little to medium companies do not need a full time bookkeeper. Most part-time bookkeepers that these businesses employ normally do not remain for long. These businesses get their work done by a bookkeeping firm.
Typically a bookkeeping firm offers two kinds of services, Onsite bookkeeping services and Offsite bookkeeping services. This post will discuss in detail exactly what each of these services are, and what their benefits and drawbacks are like.
For onsite bookkeeping, a bookkeeper physically goes to work in the business location. It is somewhat much like the bookkeeper that you employ with some distinctions. The bookkeeping company sends a bookkeeper to the client's office.
Onsite bookkeeping service has numerous benefits. The most significant advantage clearly is the money you save by employing someone only for the days you require.
When you have this type of service, you do not need to stick with the very same bookkeeper if you think he/she is not working well for you. Simply call the company and you can have a different individual working for you. When you find the best bookkeeper, you can ask the company to send the same individual to work. You never get to do that if you work with a bookkeeper.
Another advantage is that you do not need to bother with employee benefits. You pay straight to the bookkeeping firm, so there is no paycheck involved.
Accounting and Taxation guidelines are complicated and chances are most bookkeepers do not know these rules entirely. When you get an onsite service, there are other bookkeepers that your bookkeeper can ask concerns to. Most of these companies are ready on their toes to help them.
There are some downsides in onsite bookkeeping too. Onsite bookkeeping service varies from one bookkeeping company to another. Some firms have minimum service purchase requirement. For example, this may mean that you have to get at least specific variety of days per week to be able to get onsite service.
Given that your onsite bookkeeper is not working full-time for you, you will still should do some work like collecting invoices and expenses throughout when your she or he is not working.
For Offsite bookkeeping, the bookkeeping firm does the work in their workplace. This kind of service is also called virtual bookkeeping service (no it is not a computer system working for you, a real person works on your files). Basically, it resembles as if your bookkeeper's office is away from your company place. You will have to send your documents like invoices, expenses, bank statements, etc to the bookkeeping company.
The primary benefit of offsite bookkeeping is cost of service. It is remarkably less expensive (as low-cost as $50 per month) than onsite bookkeeping service. If you can not afford to get a bookkeeper, you must at least get offsite bookkeeping service. With these prices, it is almost ridiculous not to do bookkeeping or try to do bookkeeping yourself.
Some companies send their express messenger service to pickup your files. If you are a computer savvy, you can scan your files and e-mail or upload to their site. You can also fax your files. While sending out multitude of invoices, bills and statements by email or fax definitely look even more time consuming, these techniques are good when you only should send one or two documents, like a missing out on invoice, or the bank statement etc
. Always confirm exactly what services are included when purchasing offsite bookkeeping service. Some firm do not offer payroll service or tax remittance service when you buy the regular offsite bookkeeping service. Some provides you with month-to-month reports while various other companies may just give your annual reports.
Another important thing to remember is to make certain you know exactly what software application your bookkeeping company uses. Although we all like bookkeepers with numerous years and even decades of experiences, they might be utilizing software application that is obsoleted or virtually dated. At the time of writing this article, QuickBooks and Simply Accounting are 2 most popular software application that many bookkeepers are using.
Lastly, Stay away from home based company bookkeepers unless you are definitely sure about the quality of their service. They could stop their service anytime in the future and you might be left with your company data that is totally unusable.