These days, outsourcing your bookkeeping services just makes sense, for everyone from Fortune 500 companies to tiny one location stores. Besides saving overhead and payroll cost, it also frees up an enormous amount of time, which can be dedicated to actually adding value to the business relationship you have with your customers.
With that said, let’s take a look at some of the different services you may wish to outsource. Typically, companies will have bookkeeping services performed for them on a daily, weekly, or monthly basis. Here are some of the most popular services:
Daily Bookkeeping Tasks
- Payment processing
- Customer invoicing
- Recording of vendor invoicing
Weekly Bookkeeping Tasks
- Processing/Aging of accounts receivable
- Processing/Aging of accounts payable
- Payroll processing
Monthly Bookkeeping Tasks
- Reconciliation of sales tax records
- Vendor and customer statement processing
- Maintenance of W-9 information
- Credit card reconciliation
- Bank account reconciliation
There are many other services that can be of use to small businesses as well. For example, there are certainly times they could use a little assistance in preparing their financial reporting. From balance sheets, to income statements, to P/L reports, wasting time fulfilling reporting requirements rather than servicing customers is one of the leading ways businesses waste valuable time.
Even if you feel you are not in need of ongoing assistance, you may wish to retain help to execute some of these functions on a case-by-case basis. Perhaps you have fallen farther behind in processing your accounts receivable than you had wanted too, and are now finding your business strapped for cash. Maybe your general ledger has gotten a little messy and you’re having difficulty reconciling it. Whatever your situation may be, you are never more than a phone call away from dedicated professionals who can assist you to take care of any of your financial issues.
When you hire a company like Ignite Spot to assist you with bookkeeping services for your small business, you are getting a trusted partner that is going to be there with you through thick and thin. You can rest assured that you are making a good decision that will both save and earn you money in the long run.