There are many good reasons as to why you should outsource your bookkeeping – especially when it comes to basic bookkeeping functions like data entry, invoicing, payroll etc.
These administrative tasks, albeit important, may not be revenue-producing. Therefore, time spent on these tasks can be at the expense of others that can contribute to your bottom line. Sure, there is an expense of paying someone externally to handle your books. However this can be far exceeded by the potential increase in revenue derived from you being free to focus on growth and revenue-producing activities. It’s the opportunity cost that is the important consideration here.
Other reasons you should consider outsourcing your bookkeeping:
1. expertise: outsource to someone who is an expert in the field
2. gain the ability to ‘view’ the numbers from external eyes (perspective)
3. free yourself up to be ‘frontline’, as opposed to being hidden away ‘behind the scenes’
4. growth: outsourcing is a solid foundation which can enable business growth (similarly, it makes scaling back more achievable)
5. systems: outsourcing can expose you to better and more effective systems and platforms
First and foremost however, there is no substitute for having your valuable time free to build the business and grow your sales. As we’ve written in earlier blogs ‘work on your business’, not ‘in’ your business.
If you want to find out how PA2TS can help you grow your business, contact us