What is a Bookkeeper?
Bookkeepers mainly record, tally, reconcile and assess transactions to make sure you aren’t overspending and all your debts are settled. It’s important to take note of overhead costs and taxes when starting your in house staffing.
Outsourcing bookkeeping allows you to hire offshore staff who can help you make sure your finances are balanced and your check books are in order. They can serve as your financial auditors and they can also serve as data entry specialists.
While you want creative control, you also want control of your spending. This is where Outsourcing through Managed Operations comes in. If you focus on performing admin tasks, you become the admin. If you can find a way to offshore some of these routines though, but still retain the quality, the timing and the robustness of your KPI’s, then you’ve hit a home run.
As you can see, your bookkeeper can save you much of your time and when you’re able to outsource these tasks, you can focus on performing your front end functions. Taking the time to audit and reconcile your transactions is time consuming!
And if your bookkeeping routines are taken care othis can also help you make better analysis and informed decisions on how you want to move forward with your finances.
What can a bookkeeper do for small businesses?
There are several hands on tasks an outsource bookkeeper can do for business owners like yourself. These may include HR functions such as monitoring contracts, creating profiles and helping to create bank accounts
- Perform audits for employees
- Check on your outstanding payments or collections
- Oversee compensation packages and make sure they are accurate
- Verify timekeeping information for your employees
- Complete payments and controls through receiving processing and performing some verifications.
- Perform regular functions such as filing, copying and even admin tasks such as sending emails
The hourly cost for outsourcing bookkeeping is less than the cost of hiring a new full–time bookkeeper. This is because a bookkeeper’s hourly cost is lower than the cost of an employee’s salary, benefits, and office costs.
Factors Affecting Cost of Bookkeeping Services
There are many factors to consider when considering how much you want to hire a bookkeeper for. It may also depend on what state they belong to, which is why it can be more expensive if you hire locally.
Getting a good bookkeeper and you pay them dirt cheap isn’t ideal because you want professionals. These are your assets and those skilled with handling the software and hardware you require are going to be asked to get paid fairly high.
As a refresher, here are some of the outsourced bookkeeping rates in the States:
Alabama – $ 17.91 per hour
Alaska – $ 23.39 per hour
California $ 23.00 per hour
Iowa – $ 18.00 per hour
Maine – $ 18.80 per hour
Minnesota – $ 21.25
Michigan $ 18.81
New York – $ 21.92
These figures aren’t always fixed but that’s what it takes to outsource your bookkeeping in the States.