Should Your Business Outsource Bookkeeping? These 6 Signs Say Yes

1
Should Your Business Outsource Bookkeeping? These
6 Signs Say Yes
2

• When a business first starts up, virtually
  everything gets handled on an internal basis.
  There are important relationships to forge with
  suppliers, distributors, and service providers,
  but all the heavy lifting happens inside the
  company. Most often, that means the business
  owner handles the critical administrative
  dutiesespecially bookkeeping.
• Controlling your own books and keeping a close
  eye on your finances can be an essential part of
  learning your business and driving towards
  success. However, over time, it can become a
  major burdenand it can keep you from moving
  forward. Outsourcing these duties to a proven
  accounting firm in Calgary can deliver key
  benefits that make your business more agile.

3

• What are the signs that say youre ready to make
  this move?
• 1. Spending Too Much Time on the Books, Not
  Enough on the Business
• When you started the business, you may have split
  your time evenly between real work and
  administrative tasks. Do you now spend more time
  poring over the books instead of innovating?
  Thats a sure sign a third-party accountant can
  help you refocus your energy.

4

• 2. Your Business Has Begun a Growth Stage
• Have you finally started to gain traction in the
  market? If so, youll need an all hands on deck
  approachand a smart way to manage an increasing
  revenue flow. Outsourcing your accounting keeps
  you dialed into the task at hand without slipping
  on the numbers.
• 3. Youre Very Concerned About the Possibility of
  an Audit
• An audit by the tax authorities is something
  everyone dreadsindividual and business owners
  alike. Audits can turn your life upside down
  until they conclude. If youre worried about how
  youd handle that process someday, speak to an
  accountant and trust that you have an audit trail
  ready to go.

5

• 4. Adding an Accountant to Payroll Would Cost Too
  Much
• There are many times when outsourcing is more
  cost-effective than adding staff to your payroll.
  Run the numbers and compare the cost of an
  accounting service with the wages, benefits, and
  other costs associated with hiring. Chances are
  that outsourcing is the more cost-effective
  choice.
• 5. Youre Worried About the Possibility of Fraud
• Even businesses with trustworthy staff are at
  risk of financial fraud, such as embezzlement. If
  you have reason to be concerned about the
  security of your funds, an accountant can provide
  key insights to help you identify and stop fraud.

6

• 6. You Dont Have the Financial Foresight You
  Need
• Are you having trouble figuring out how to plan
  for the future of your business? How can you move
  beyond a break-even approach and start
  generating profit? Working with an outside
  accountant means getting back on top of your
  books and tapping into valuable insights.

7

• Finding the Right Bookkeeping Services in Calgary
• At Reion Accounting, we understand how stressful
  it can be for the owner of a growing business to
  continue handling accounting duties. We deliver
  exceptional outcomes for our partners with an
  array of service packages and highly personalized
  service. Following best practices and using the
  latest software tools, we provide a service
  thats easier and more convenient to access, too.
  Speak with us today to learn about making the
  transition.