Most little to medium-sized businesses don’t need a bookkeeper on staff full time. These businesses often do not retain the bulk of their part-time bookkeepers for very long. For some businesses, the task is performed by a bookkeeping service.
A accounting company often offers two different services: onsite bookkeeping and offsite bookkeeping. Each of these darcy services will be thoroughly described in this post, along with any advantages and disadvantages they may have.
In the case of onsite bookkeeping, a bookkeeper actually works there. With several exceptions, it is somewhat comparable to the bookkeeper you hire. A bookkeeper from the bookkeeping company is sent to the client’s workplace.
On-site bookkeeping services have a number of benefits. The largest benefit is without a doubt the money you save by just hiring someone when you actually need them.
If you use this type of service, you are not required to continue working with the same bookkeeper if you feel that s/he is not doing a good job for you. You can change who works for you by making a quick phone call to the company. You can ask the company to send the same bookkeeper after you’ve found the ideal candidate. If you hire a bookkeeper, you’ll never get to do that.
Additionally, there are significant drawbacks to on-site bookkeeping.
The onsite bookkeeping services offered by different bookkeeping companies vary. Some businesses require a minimum service purchase. For instance, this can imply that you need to receive onsite assistance for at least a particular number of days per week.
You won’t have to worry about employee benefits, which is another advantage. There is no paycheck involved because you pay the bookkeeping company directly.
Since accounting and tax regulations are intricate, it’s likely that most bookkeepers are only somewhat familiar with them. Your bookkeeper might consult other bookkeepers for advice when you use an onsite service. The majority of these businesses are eager to assist them.
You will still need to do some work, such as gathering invoices and bills during the times when your onsite bookkeeper is not working, because he or she does not work full-time for you.
When doing off-site bookkeeping, the accounting firm works in their office.
Another name for this type of business is virtual bookkeeping service (no it is not a computer working for you, a real person works on your files). In essence, it is as if the bookkeeper’s office is some distance from where you conduct business. You must submit the bookkeeping company all of your paperwork, including invoices, bills, bank statements, and so on.
Conclusion: When purchasing an off-site bookkeeping solution, be sure to ask about the included services. When you purchase the regular offshore bookkeeping service, some businesses do not offer payroll or tax remittance services. Some companies give you weekly reports, while others might only give you yearly ones. Another thing to bear in mind is to confirm that you are familiar with the software that your bookkeeping company employs. Even while we all admire bookkeepers with years or even decades of experience, they may be using out-of-date or nearly out-of-date software. The two most common programmes that the majority of bookkeepers use right now are QuickBooks and Simply Accounting.