Outsourcing your bookkeeping: how to find the right team

May 6, 2024

Business owners face many challenges in their day-to-day operations, one of which is bookkeeping for small business.

While it may not be the most complicated part of running a small business, it can be one of the most time-consuming.

Many business owners find bookkeeping overwhelming, spending hours keeping their financial accounts organised instead of focusing on running their business.

So why not consider outsourcing it to a professional?

We aren’t talking about outsourcing your bookkeeping overseas – after all, each country’s regulations are unique. What we are talking about however, is handing bookkeeping to a dedicated professional instead of trying to DIY it all the time.

Outsourcing your bookkeeping to a dedicated bookkeeper can be one of the best decisions you make – provided that you find the right bookkeeping service for your small business, that is!

bookkeeping for small business

Why should I outsource my bookkeeping?

The benefits of outsourced bookkeeping explained

When you decide to outsource your business bookkeeping, you are essentially hiring a third-party service provider to take care of your bookkeeping. This is instead of relying on in-house staff to track your small business’s finances.

You might be hesitant to outsource your bookkeeping, especially if it is your first time doing so. What about accountability, or transparency?

This is understandable – take our word for it however, doing so will help you protect your business from incorrect and inefficient bookkeeping, and help you take your small business to the next level at the same time.

Outsourcing your bookkeeping can give you a valuable opportunity – one that you will not want to miss out on!

Save time and focus on what you’re good at

Tired of spending hours going through spreadsheets, logging receipts and entering bank records?

Here’s an idea: let somebody else do it for you!

Outsourcing your bookkeeping to a bookkeeping service in Melbourne saves time, end of story. Instead of going over everything yourself or soaking up your team’s time, you can instead focus on other things.

Outsourced bookkeeping takes all the extra work off your plate, letting you and your team shift your attention from organising your business books and accounts to focusing more on what you do best: managing operations and growing your business,

How much does it cost to outsource bookkeeping?

You’re probably worried about the costs of hiring an external bookkeeper.

While it does add to your expenses, the value and benefits you receive in return make it a worthwhile investment.

For most small businesses, outsourcing is also more cost-effective than adding a dedicated bookkeeper to your staff – instead of paying a full-time employee with benefits, super and everything, you’ll only have to worry about a single monthly fee.

Don’t forget about the time savings, either – time is money, after all!

Get a variety of bookkeeping services

Outsourced bookkeeping services provide a variety of bookkeeping solutions for your business. If you run into unexpected trouble or need more sophisticated services, your bookkeeper can quickly scale up to meet your demand. 

Bookkeeping can be a time-consuming task. By entrusting it to a dedicated professional, you can ensure that your financial records are managed efficiently and effectively, allowing you to focus on other aspects of your business.

Experience and skill

You might not be a trained bookkeeper, and that’s okay. But your business finances need expert handling.

Professional bookkeepers have the skills and experience to manage your records accurately and efficiently. They can also provide financial advice and solve bookkeeping problems.

All of this ensures that your finances and records are being handled by someone who can look after your business without making mistakes and errors along the way.

Not only that, but as we mentioned above, hiring qualified bookkeepers can help you solve other types of bookkeeping problems as well like mismanaged accounts and unreconciled transactions.

Plus, you can even get expert financial advice on business decisions that you need to make!

Bring your bookkeeping into the 21st century

Why stick to old-fashioned ledgers and spreadsheets? Outsourced bookkeepers can set you up with faster, easier and more time-efficient bookkeeping solutions. These don’t just make things quicker, but also reduce mistakes and increase accuracy at the same time.

Our bookkeeping team are certified cloud bookkeeping specialists – our team includes MYOB bookkeeping experts, QuickBooks bookkeepers and Xero bookkeepers in Melbourne.

We can set you up with any of these platforms, helping make your bookkeeping easier than ever before. Our team can:

  • Sync your new system with your bank accounts and other systems
  • Install plugins and extras for a truly customised system
  • Migrate your existing bookkeeping records over
  • Provide ongoing training and support, no matter which platform you choose

Tired of doing things the old-fashioned way? Give our team a ring, and we’ll set you up with a faster, better way of doing your bookkeeping.

How do you outsource bookkeeping? Finding the right bookkeeper for your business

Ask for a referral from a trusted source

One of the best ways to find a good bookkeeper is through referrals from trusted sources. 

Ask colleagues or businesses in your industry about their experiences and satisfaction with their bookkeepers.

Hire somebody who specialises in small businesses

Bookkeeping fundamentals might be the same, but the needs of small businesses are different from large ones. Make sure your bookkeeper understands and prioritises the unique needs of small businesses.

For example, larger businesses might:

  • Require more work, monopolising your bookkeeper’s time
  • Get priority when it comes to bookkeeping services, slowing things down
  • Be given preferential treatment at your expense

It’s a bit of a moot point since most large organisations have their own in-house bookkeeping departments (they can afford it, after all) – what we’re trying to get at is that this is often brought up as a selling point, but it can also often be a downside!

Get someone who can answer your questions

A good bookkeeper should be able to answer your questions and handle unexpected issues. Be sure to ask lots of questions when talking to a bookkeeper for the first time.

Don’t just pay attention to their answers, either – for the questions they might not have the answers to, focus on how they handle it. For example, do they…

  • … respond by explaining what they would do if they encountered that issue?
  • … talk about their processes for dealing with unique or unexpected requests?
  • … discuss how their services can be tweaked to fit the situation?
  • … or fumble and dance around the issue?

However they respond, make sure you’re happy with their response and satisfied that they’ve given you the answer you want.

bookkeepers in Melbourne

Look at their services

You might need a bookkeeper for specific tasks like BAS and IAS lodgments.

Choosing a bookkeeper who offers extra services can help you deal with these issues as they arise, helping you get out of a bookkeeping emergency later down the line.

Hire the right bookkeeper in Melbourne – call Maximum Business Solutions today!

Stay in control of your business’ accounts and records with the help of a bookkeeper in Melbourne.

Maximum Business Solutions helps you grow and focus on your business –  our team of expert bookkeepers take care of all your business’ finances, so you have nothing to worry about in the future.

We offer simple to advanced bookkeeping services to businesses throughout Melbourne’s southeast. Whether you need bookkeeping in Beumaris, account cleanup in St Kilda or help with invoicing for your business in Moorabbin, you can trust our experience in:

  • Payroll solutions
  • Invoicing
  • Debt collection
  • Balance sheets
  • Cloud software implementation
  • Consultation
  • Audit preparation
  • Business Activity Statements (BAS)/ Income Activity Statement (IAS)

Call a bookkeeper in Melbourne on (03) 9589 0128 or fill in the form to find out how we can help your business thrive!