Are you in search of a cost-effective solution for your small business’s bookkeeping needs? Keeping track of financial statements, income, expenses, and taxes is essential to your success as a business owner. However, managing this on your own can be overwhelming and time-consuming. That’s where bookkeeping services come in handy, and we’re here to help.
In this blog post, we’ll delve into the importance of bookkeeping services for small businesses, types of available services, associated costs, and the benefits of partnering with Global Accounting Corp for outsourcing your bookkeeping needs.
What Can Bookkeeping Services for Small Businesses Help You Achieve?
An expert bookkeeper performs multiple tasks, including managing financial transactions, preparing financial reports, and reconciling accounts. Professional bookkeepers have specialized knowledge and skills that can help your business improve its financial processes, increase revenue, and avoid penalties for noncompliance.
As a small business owner, managing financial transactions and keeping up with bookkeeping can be a daunting task. However, the assistance of an expert bookkeeper can provide numerous benefits to your business. Some of these benefits include:
- Accurate financial records: An expert bookkeeper has specialized knowledge and experience in ensuring that all financial transactions are accurately recorded. This can help you make informed decisions based on accurate financial data.
- Improved financial processes: Professional bookkeepers can help streamline your financial processes and develop efficient systems for managing finances. This can save you time and money in the long run.
- Compliance with regulations: Noncompliance with financial regulations can lead to hefty penalties for small businesses. An expert bookkeeper can help ensure that your business is compliant with all financial regulations and avoid any negative consequences.
- Better cash flow management: A bookkeeper can help you manage cash flow effectively by monitoring accounts payable and receivable, tracking expenses, and providing regular financial reports. This can help you identify areas where you can improve cash flow and increase revenue.
What Affects the Cost of Bookkeeping Services for Small Businesses?
There are three types of bookkeeping services that small businesses can benefit from – full-service bookkeeping, virtual bookkeeping, and DIY bookkeeping. Full-service bookkeeping involves an expert bookkeeper handling all financial tasks for your business. Virtual bookkeeping allows you to access your financial data online, while DIY bookkeeping requires you to handle financial tasks yourself using accounting software.
It is important to note that the cost of bookkeeping services for small businesses vary depending on factors such as the nature of the business, the specific job required, and the expertise of the bookkeeper hired. It is advisable to carefully assess your business’ needs and budget before choosing a bookkeeping service that will work best for your company. In doing so, you can ensure that you get the most value for your money and have accurate financial records that can help guide your decision making.
How Much Does Bookkeeping Cost for a Small Business?
Bookkeeping costs vary depending on the type of service you choose and the complexity of your financial situation. According to a survey conducted by Clutch, the national average cost of bookkeeping services in the US ranges from $35 to $150 per hour. For full-service bookkeeping, the cost may range from $800 to $2500 per month, depending on the volume of work and nature of your business. But, if that sounds like too much at this stage of your company’s growth, don’t worry!
Outsourced bookkeeping services offer small businesses affordable and cost-effective solutions to their bookkeeping needs. By outsourcing, small businesses can save on the overhead costs associated with hiring an in-house bookkeeper. Additionally, outsourcing bookkeeping services for small businesses allows them to benefit from custom staffing solutions, ensuring that they receive the flexibility required to drive business goals as the nature of business demands.
Outsourced Bookkeeping Services – A Cost-Effective Solution
Many small businesses opt for outsourced bookkeeping services to save time, effort, and costs. By outsourcing bookkeeping services to Global Accounting Corp, you can access expert bookkeepers at a lower cost than hiring an in-house accountant.
For starters, we offer certified accountants and bookkeeping experts at rates starting from as lucrative as $8/hour, with the flexibility to pay as you go and scale up or down as needed, at any stage of your business growth.
According to a survey by Deloitte, outsourcing bookkeeping services can save small businesses up to 40% compared to employing an in-house accountant. We will help you reduce the cost of bookkeeping services for small businesses.
Furthermore, outsourcing bookkeeping services can help you focus on your core business activities, avoid errors, and ensure compliance with tax regulations. With Global Accounting Corp’s intuitive technology driven processes, you can access your financial data anytime, anywhere, making it easy to keep track of your overall financial performance.
Rely On Global Accounting Corp for Professional Bookkeeping Services
Global Accounting Corp offers customized bookkeeping services for small businesses tailored to your specific requirements. Our experienced bookkeepers can handle all financial tasks, including accounts payable and receivable, bank reconciliation, payroll processing, and reporting.
Contact us for a cost-effective solution to handle all your bookkeeping needs and ensure uninterrupted business performance.