Launching a small business can be one of life’s most rewarding and difficult challenges. Owners often get into trouble by taking on too many responsibilities without the necessary resources. Bookkeeping is one area many owners think they can handle, but soon discover the labor intensive and time-consuming nature of the work.
Every small business needs to manage its books and maintain a record of transactions. Some owners with an affinity for numbers find they can manage their books quite well when the business is brand new and work volume is generally low. But what can start out feeling like a cost savings can become overwhelming as business picks up.
In fact, Forbes recently reported that the secret to success is to outsource more. Outsourcing services like bookkeeping may be the solution to increasing productivity and alleviating overwhelming workflow woes. In addition, by outsourcing bookkeeping services, owners can rest assured their business is audit ready and their books will be in line with Generally Accepted Accounting Principles (GAAP).
While outsourcing bookkeeping services may seem unnecessary in the very early stages of running a business, it will help save money, scale for growth and ensure compliance. Wouldn’t it be nice to spend some time with friends and family this year instead of scrambling to pull together reports, records and statements?
To discuss whether outsourcing your bookkeeping or accounting duties makes sense for your business, contact Bukaty Companies Payroll and Accounting Services at 913.345.0440 and ask for Sheri Reynolds.