Small business bookkeeping: why outsource?

March 18, 2024

Maximum Business Solutions is a bookkeeper in Beaumaris that supports small and medium-sized businesses with a range of bookkeeping solutions. Our goal is to manage all your day-to-day bookkeeping needs, in order to keep your accounts clean so you can spend more time actually doing business!

“Do what you do best… and outsource the rest!”

The above quote was given to companies by management consultant, educator, and author Peter Drucker (who’s known as the “founder of modern management”.)

Small business bookkeeping can be overwhelming. It’s OK if accounting and bookkeeping isn’t your strong suit – you’re not running a bookkeeping business, after all!

If you’ve found yourself wasting too much time, making too many errors, and suffering the consequences of untidy and disorderly books, you must strongly consider outsourcing your bookkeeping. Find out some great benefits you can enjoy almost immediately once you find a trusted outsourcing partner.

Small business bookkeeping

Why should you consider outsourcing your small business bookkeeping?

You’ll save time

“I’m wasting too much time on bookkeeping.”

Sound familiar? Many small business owners are struggling to keep all the balls in the air as they run their business. The simple reality is that if bookkeeping and accounting isn’t your strong suit, you will spend more time than is perhaps necessary per week keeping your books in order.

Think of this Benjamin Franklin quote next time you sit down to look at your books: “Lost time is never found again.”

Save time by outsourcing your bookkeeping.

Payroll and taxes will get done correctly

We don’t mean to sound dramatic (promise) – but one mistake on your payroll, lodgement, or tax return could have dreadful repercussions for your business. Fines are common from the ATO for “mistakes, omissions, and improper filings”.

Don’t take the risk – when it gets done by a professional bookkeeper, it gets done right. With Maximum Business Solutions, you’ve got expertise on your side!

Get it done right the first time, and you’ll save money. And time. Time is money, after all, and if you’re spending too much time time fixing errors made internally in the first place, you’ll fall into an ugly cycle of Bookkeeping Gone Wrong. Leave it to the pros and rest assured that it will get done correctly – every time!

Are we really built for multitasking?

Some people say no.

Multitasking takes a toll on productivity. Research from the American Psychological Association found that:

  • The mind and brain were not designed for heavy-duty multitasking
  • Some multitasking results in a 40% drop in productivity
  • Multitasking may involve more errors
  • Further, some studies say that multitasking can negatively impact memory and IQ, and make it harder for you to learn new things.

Outsource Bookkeeping Melbourne

You have great talents – it’s OK if bookkeeping isn’t one of them

Many entrepreneurs, business owners, and managers fall into the mindset of thinking that if something needs to be done, it needs to be done by him or herself. Not only can this result in burnout, it leaves us feeling flat when we finally concede that maybe we can’t do it all.

Bookkeeping is stressful. Managing accounts, recording spend, submitting BAS, and filing yearly tax returns can be overwhelming, especially if it’s not your strong suit.

You’ve got enough to do running your business, liaising with clients, managing purchase orders, and supervising staff.

Take bookkeeping off that ever-growing to-do list and enjoy the benefits of outsourcing bookkeeping to a talented team in Melbourne.

Access the best accounting and bookkeeping software

Selecting the most appropriate bookkeeping software for a business owner with limited knowledge can be challenging, but with the knowledge of an expert, we’ll help you make the best decision that supports your business and its needs.

State-of-the-art cloud-based bookkeeping software promotes transparency and accuracy for you, your staff, your accountant, your bookkeeper, and perhaps most importantly, the taxman.

The risk of overseas bookkeeping

While we are strong advocates of outsourcing any part of your business that restricts you from performing at your best, there’s a clear distinction when it comes to overseas bookkeeping.

In our blog, “The risk of outsourcing your bookkeeping overseas“, we take a closer look at the potential pitfalls of outsourcing bookkeeping tasks abroad. We highlight concerns such as data security risks, communication challenges, cultural disparities, and possible legal issues.

We emphasise the need for thorough vetting of outsourcing partners and implementation of robust security measures. Our goal is to caution businesses considering offshore outsourcing for their bookkeeping requirements.

Outsource your bookkeeping

Accounting and bookkeeping is not for everyone. But it is for us. From account clean ups to training, implementation, and ongoing management, Maximum Business Solutions is your bookkeeping partner injecting confidence and clarity back into your business’s books.

Isn’t it time you outsourced your business’ bookkeeping? Contact us now!