It is a good idea to outsource your bookkeeping when doing so gives you access to better experience and skills. You can commonly outsource your bookkeeping and find that it pays for itself! This is contrary to the belief that you outsource to reduce what you are paying in benefits and salary. When you choose the right accounting or bookkeeping source, you not only get competent work but also profitable insights that can change how your business operates. Outsourced bookkeeping rates will depend upon how much basic work needs to be done and a whole host of other skills and services that you gain from outsourcing.
Depending on where you are in the country, a full time bookkeeper for a small business will typically range in salary from $37,000 to $67,000 a year. Basic bookkeeping services can be outsourced for a percentage of your annual revenue. And, you may be able to take advantage of additional business intelligence tools that will make your business more efficient and more profitable. These additional tools are also generally available as a percent of your revenue.
At Exigo Business Solutions in the Kansas City area, we are an experienced accounting firm that offers everything from basic bookkeeping services to highly effective business methods and tools. At Exigo we don’t just do your books and taxes but help your maximize your profits.
Our outsourced bookkeeping rates are based on your annual revenue and the extra services that you may require. Here is a snapshot of the services that we offer.
You may be happy with your bookkeeping set up but concerned about the accuracy of your accounts. A useful service that we offer is to reconcile your accounts within the QuickBooks system, fix errors, and get your numbers in order. In this case, you are doing the data entry and we check your numbers and correct any errors.
This is where outsourcing your bookkeeping starts to really pay off. We will take over your basic bookkeeping and introduce you to a way to ensure your profits from day one. This is called the Profit First system. Too many businesses work hard and have to wonder each month if there will be any profit left over. Very often this comes down to a problem with cash flow management, budgeting, and identification of hidden costs.
Profit First starts by modifying the standard bookkeeping formula which says that income minus expense equals profit. The rewrite says that profit income minus profit equals expense. When you use the Profit First system in your business, you have effective cash management and budgeting. You will find and eliminate hidden costs and realize a profit that you can bank twice a month. When you outsource your bookkeeping to Exigo Business Solutions, you can also institute the Profit First system to help your business maximize profits. As with other outsourcing services, outsourced bookkeeping rates will be based on a percentage of your annual revenue.
A business with a plan is a successful business. One of the services that we offer our clients when they outsource their bookkeeping is Liveplan. This system helps you set up a basic business plan to present for financing or to guide your steps in the coming year. When your business has effective bookkeeping, an effective way to ensure profits like Profit First, and a solid business planning method, the benefits you experience will very often offset the cost of outsourcing your bookkeeping!
The knowledge and skills of a chief financial officer (CFO) can help a business through tough times and pave the way for long term success. Although most small businesses cannot afford to pay what a CFO earns, they could use such high quality advice early in the game. One of the advantages of outsourcing your bookkeeping and accounting is that you can gain CFO expertise for a fraction of your revenue stream, have help on special projects, and pay only for the services that you receive.
To learn more about outsourced bookkeeping rates and services, contact us at Exigo Business Solutions in the Kansas City area.
