Bookkeeping Tips

The bookkeeping tips below lay out for you the options you have regarding finding bookkeeping businesses and outsourced bookkeeping services. I will conclude with a recommendation of a small business bookkeeping service I found.

Option 1: Hire a bookkeeper.

Option 2: A good alternative to hiring your own bookkeeper is to hire a virtual bookkeeper. This will eliminate the hassles of having to make sure you keep the bookkeeper busy, paying payroll taxes, having a desk and software for the bookkeeper, and putting up with other expenses and hassles associated with having employees.

As a cost-effective alternative to hiring a bookkeeping employee you provide your virtual bookkeeper with the necessary information and documentation to input your income, expenditures, etc. Your bookkeeper produces all of your financial reports according to your specifications.

The documentation can be sent to your virtual bookkeeper via fax, email or mail. Your bookkeeper records your information and then e-mails your reports on a daily/weekly/monthly basis - according to your needs. If you ever need to consult with your virtual bookkeeper, you can do so via email or phone.

It is important to note that while a bookkeeper does not replace an accountant, the bookkeeper can assume the bookkeeping responsibilities that your accountant may currently provide for you at a more reasonable price.

The bookkeeper does not deal with the income tax aspect of your business but will work with your CPA to help define the financial information that will be needed to provide the best management of your business and will provide that information to your CPA when requested by you.

I have found an experienced bookkeeper based in the United States, who provides comprehensive virtual QuickBooks bookkeeping and payroll services to small businesses. Beneficial Bookkeeping provides this service via the internet, email, phone and fax. Contact Beneficial Bookkeeping and talk to them about their services.

Option 3: If you have the time and the inclination, do it yourself. You may want to do this as I did years ago but I suggest your time is better spent growing your business.

Option 4: Have your accountant do the bookkeeping. There are still a few accountants around who do their own bookkeeping. I don't recommend this, however, because they invariably charge more for the service that a bookkeeper can do. Even if the accountant hires a bookkeeper to do the work, the accountant is still responsible and will expect to make a profit on the service.

You now know your bookkeeping options. With these bookkeeping tips you don't have to be befuddled when it comes to accounting and outsourced bookkeeping services. You have the facts and you are ready to make a decision.

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