The pivotal role of bookkeepers is maintaining your books closely every day. They generally do all data entry into accounting ledgers or software.
Bookkeepers focus on recording financial transactions of a business through maintaining records, tracking transactions, and creating financial reports. Also, if need be, they also take part in other activities such as
Primarily, there are three choices at your disposal. And knowing how they cater to the various needs of a business will help you cut your coat according to the cloth.
Will outsourcing work for you? Know in 24 hours!
According to Glassdoor, listings in cities with high cost of living show that full time bookkeepers charge as much as $70,000, excluding the perks, health insurance, paid vacations and overhead involved. A full-time bookkeeper will handle the day to day accounting functions for your office. Although, keeping your books in order and up-to-date is the foundation of the financial strength of any business, for a small or medium business spending $70K on bookkeeping would be practically pointless.
The rates of part-time bookkeeper vary widely. A rough estimate for internal part-time bookkeeper’s average at around $20/hour largely based around the job description and location. Part-time bookkeepers usually perform basic bookkeeping duties that would require supervision. If you’re one who can manage your job and do some accounting each month but need an extra hand, a part-time bookkeeper would be ideal. They can undertake tasks like inputting receipts and tracking employee time sheets, accounts receivable and accounts payable.
Outsourcing bookkeeping services is one of the most popular options for small and medium businesses these days. Just as in the case of hiring an internal bookkeeper, defining their roles and functions in a granular way will be key. You’ll have to decide upon the functions you would like to outsource and the functions you’d like to retain. The average price of outsourcing your bookkeeping vary between $500 to $2,500 a month depending on the number of transactions and complexity of services required. A key benefit of Outsourcing is it gives you the ability to customize the services you receive to your bookkeeping needs.
With the unfair degree of scepticism associated with bookkeeping, many businesses are concerned about switching over to outsourcing, not understanding how the pieces stitch together. But with today’s advancements in technology, outsourcing has never been easier and safer. Outsourcing can provide advanced and less costly bookkeeping service than a typical in-house bookkeeper.
Outsourcing comes with another added advantage. Besides effective cost cutting, it also enables freeing up resources to take care of other operational roles. Outsource and free up your good employees to help focus on growth!
Our financial services are specifically designed to cater to global clients and are reasonably priced
We have stringent data security policies in place to ensure that all your data remain completely safe with us
Our experts has access to the state-of-the-art infrastructure, which empower us to provide the best services
We make use of some of the latest software tools and technologies, which help us work more efficiently.
We have a proven track record of offering the complete range of accounting, tax preparation, financial planning, payroll processing, and insurance services to companies across the globe. This experience, coupled with in-depth knowledge of financial environment helps us in offering quality solutions at a fast turnaround. By outsourcing accounting services to India you can save up to 60 to 70% of your costs. Many of our International clients have saved thousands of dollars in accounting by outsourcing to India.