Keeping your finances in check is one of the most important parts of running your
Australian business. Bookkeeping is a tedious task that no business owner or manager should have to get involved with since it is so time consuming and I guarantee you have a million other things your plate.
Save yourself the time and agony of all the fine detail tracking and recording. Focus on the bottom line! Small businesses throughout Australia have had great success using outsourcing services for their bookkeeping. Saving time is just the beginning to the list of benefits you experience when you outsource bookkeeping services.
Secures Financial Data
When you outsource bookkeeping services and other financial processes you reduce the risk of fraud in your business. You need to ensure segregation of duties and privacy when dealing with the businesses finances. No better way of accomplishing that for your Australian business than to hire an outsourcing company located overseas to handle bookkeeping for you. BPO companies are experts when it comes to protecting your company’s most sensitive asset and are constantly upgrading their security measures to stay ahead of the game. It is both morally and legally the responsibility of your third party bookkeeping service to keep your data secure.
Most small businesses and startup companies have limited resources so their bookkeeping tasks fall to either someone that has little training and experience or has a much larger role in the company. Let’s face it, creating business strategies and closing deals take priority. With that, bookkeeping processes get mismanaged and placed on the back-burner. Hiring a bookkeeping service that specializes in Australian accounting will ensure all financial reporting is on time and 100% accurate. Outsourced bookkeepers are completely certified and attend continuous improvement training classes to ensure they are up to date with the latest trends in accounting.
Outsourcing bookkeeping services is a no-brainer when it comes to cutting costs in Australia. In-house bookkeepers usually have a base salary of about $50-70K before any overhead costs. Add that extra 25% to factor in benefits, taxes, facility cost, etc., and you are at about $75K for bookkeeping. With outsourcing there are is no overhead costs, you pay a monthly flat rate (around $1000) which covers all bookkeeping needs. Add it all up and you save more than 75% when you outsource bookkeeping. Don’t forget the training and management costs you are cutting by using a bookkeeping service that handles Australian businesses.
Bookkeeping will always be one of those important administrative tasks that nobody likes to do. Bookkeepers employed by overseas BPO companies are experts at this stressful, number crunching, time-consuming process. Using an outsourcing company is the most efficient way of handling your bookkeeping processes in Australia. Keep your finances up to date with little cost and no effort by hiring a third party bookkeeping service.