For accuracy that leads to financial savings, one of the best decisions your company can make is to outsource the company's back office. An outside team not only helps your finances through reducing expenses and fees at tax time, it saves you all year round. For most small business and entrepreneurs, the day-to-day expenses of hiring an employee are far greater than contracting with another business.

These are four ways using an outsourced company will reduce your company's operating costs:

It's time for a new year, the perfect opportunity to make changes in your business that will help it succeed. If you're a newer or relatively small business, there's a good chance you don't have an expert bookkeeper on your team. If it isn't right at this time for your team to hire a permanent back-end bookkeeper, outsourcing these tasks is a wonderful solution.

Here are three reasons to seriously consider outsourcing these tasks this year:

Outsourcing services - we all have an opinion on it. Whether you have extensive knowledge on the subject or are beginning to research this important business strategy, the resulting decision is crucial to your year-end balance sheet.

As a business owner, it is hard to release control of any part of your business to someone else. Before you make a snap judgement, consider the advantages of giving the responsibility to someone else to increase your profits.

Here’s why outsourcing will increase your profits:

• Save on payroll costs
  • Accurate bookkeeping requires a special set of skills to safeguard the company's financial future. With the level of proper education and training necessary, this will be a large payroll bill. Outsourcing will save you payroll cost and improve efficiency.
• Save energy
  • As a business owner you are wearing a multitude of hats and spending a mass amount of time and energy. By outsourcing your bookkeeping, you can spend more time and energy on increase revenue.
• Protect yourself from the IRS
  • Avoid late or incorrect filing fees (the average small business owner pays $845/year in late fees). By outsourcing your bookkeeping to the pros, you won’t have to deal with the IRS headaches.

Building a business means executing your business plan and reviewing all options for cost savings. Outsourcing will increase your profits by reducing your responsibility, stress and business expenses.

To talk more about this, or if you have any questions, contact us! We’d love to help.

Our quick infographic shows you the benefits of outsourcing your bookkeeping vs hiring an in-house bookkeeper. Click here for a larger, printable version.