Are you considering hiring a virtual bookkeeping service, but haven’t yet taken the plunge because you’re used to doing things the “traditional” way by keeping all of your accounting practices in-house? Are you worried that handing over control of your company’s accounting will leave you open to losing vital information that could cost you dearly? Don’t think that you have to dive headfirst into it. It’s entirely possible – and even strongly recommended – to ease your way into working with an online bookkeeping firm by testing out their services gradually. Here are a few suggestions on how to do that.
Start Small and Test the Waters
If your company’s needs go well above and beyond simple bookkeeping, consider starting slow and small. Hire an online accounting service to handle the basic bookkeeping functions and keep a close watch on the numbers to ensure everything is done accurately.
Once you’ve grown comfortable with the company’s ability to perform rudimentary accounting tasks, discuss branching out services to include more complex services, such as deferred or accrued revenue reporting or expanded controller services. Most third party bookkeeping firms will offer graduated levels of service that include the most advance of controller level reporting and financial management.
Compare Direct and Indirect Costs and Benefits
Compare the fees charged by the bookkeeping firm against the costs that you would have incurred paying an hourly wage to an on-site employee, but don’t just look at earnings. Also consider your out of pocket expenses for healthcare benefits, training, time off, and potential lost productivity when an on-site employee is out sick or mismanaged.
Move beyond the simple virtual bookkeeping services offered and investigate the performance of the third party when it comes to the creation of financial reports, as well as the more complex and comprehensive duties of controller services.
Ask For Recommendations
Trust is something that’s tough to come by these days, and it’s in every business owner’s best interest – as well as that of his or her employees – to take pains to ensure that trust is duly earned. If you’re not ready to take the plunge with a virtual bookkeeping firm, consider it a sign of your prudence where the lifeblood of your enterprise is concerned. Taking the above mentioned baby steps is sometimes the best way to guarantee that the outsourced firm you’re working with will be able to deliver security and quality performance. Finally, don’t forget to interview current clients and read testimonials. In all likelihood, other clients will have experienced the same reservations and be able to speak to their experiences firsthand.
