Outsourced Bookkeeping – How to find the right bookkeeper

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Outsourced Bookkeeping How to find the right
bookkeeper
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• If youre ready to move bookkeeping off your
  plate, outsourced bookkeeping can be a good
  option, but it can also open up a lot of
  questions. What tasks can a bookkeeper actually
  handle for you? Can you get away with just using
  bookkeeping software alone?
• To help figure out the best bookkeeping solution
  for your needs, we will briefly discuss

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• The benefits of outsourcing your bookkeeping,
  versus using a bookkeeping software or hiring a
  bookkeeper in-house
• What tasks a bookkeeping service can cover
• In other words, well cover everything you need
  in order to make key decisions about outsourcing
  your bookkeeping.
• Does outsourcing your books make sense for your
  business?

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• If youve already decided to move bookkeeping off
  your place and on to someone elses, then the
  benefits are obvious. For starters
• You dont have to do it yourself, which means
  your time and patience are spent on growing the
  business
• You dont need to worry about inaccuracies or
  falling behind on your books when a pro has it
  covered
• When its time to raise money or lodge your tax
  return, you know your books will be professional,
  complete and ready to go

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• But outsourcing your bookkeeping to another
  company isnt the only option you have to off
  load your books. You can also hire an in-house
  bookkeeper. So what are some of the benefits of
  outsourcing your books instead of hiring in-house?

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• Outsourced bookkeeping is more flexible, allowing
  you to scale your service up or down as your
  business needs evolve
• Many outsourced bookkeeping services are more
  cost effective (sometime substantially) than
  paying a full-time bookkeepers salary plus
  benefits
• Someone else handles teh vetting adn hiring of
  qualified, professional bookkeepers

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• At iKeep, we offer an additional advantage that
  many bookkeeping services dont have. On top of
  Xero we use powerful software like Receipt Bank
  to automate the most repetitive and error-prone
  aspects of bookkeeping. Combined with our expert
  bookkeepers, youll always get a first-class
  experience and keep great books.

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• Tasks an Outsourced Bookkeeping Service can
  handle for you
• As it turns out, theres a lot of blurred area
  between bookkeeping, accounting, admin and taxes.
  The specific set of tasks your bookkeeper
  performs can vary from person to person. So if
  you decide to outsource your bookkeeping, what
  does that actually cover?
• An outsourced bookkeeper or bookkeeping service
  can generally handle and and all of these tasks

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• Importing financial information from your bank
  statements, credit card statements, payroll
  records, invoices and more (with iKeep, this is
  generally done automatically by connecting your
  accounting software to source data via an API)
• Categorising and reconciling those transactions
  to ensure that everything has been accounted for
• Tracking bills and income yet to be recognised
  (which is otherwise known as Accounts Receivable
  and Accounts Payable management)

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• Ensuring your books are always up to date and
  accurate
• Providing you accurate financial statements at
  month-end. This generally includes Profit Loss
  Statements, a Balance Sheet and a Statement of
  Cash Flows.
• Explaining those financial statements and other
  aspects of your bookkeeping in terms you can
  understand
• Handling complete and accurate financial
  reporting over to investors, tax agents,
  shareholders, and anyone else who may need access

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• Youll have to hash out the details with the
  person or service that you choose. Its worth
  asking questions up front and making sure your
  expectations are aligned with their offerings
  before signing up.
• Accurate and up to date financial records are a
  must have for every business but managing them
  doesnt have to eat up your valuable time and
  patience. If bookkeeping is taking up time you
  could be spending on growing your business, its
  worth the investment to move the back office off
  your plate.

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• That way, you can be confident in the accuracy of
  your books and get back to doing what you do
  best.
• At iKeep, we have a team of expert bookkeepers,
  certified in Xero, MYOB and QBO. Let us take the
  bookkeeping burden off your plate.
• Check out our recent blog for more info on topics
  like

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• How much does it cost to outsource payroll
• How to outsource bookkeeping
• Outsource bookkeeping for small business