How to Decide Between Investing in Accounting Software or Bookkeeping Services

Have you considered whether accounting software or bookkeeping services are the way to go?

Accounting software or bookkeeping services? It’s an age-old question for small and medium-sized businesses everywhere. Your operating budget is tight. Therefore, your need for sound financial oversight is great. Your records are not in any obvious sense of order. How do you decide between investing in QuickBooks or a bookkeeper? Which will deliver the best bang for your buck?

Do you already have a great accountant on staff? Then investing in accounting software makes sense. But your accountant must have time during their workday to perform all bookkeeping for your company. The last thing you want is an overworked staff member to hurry through their bookkeeping tasks. Furthermore, keeping accurate records takes time and attention.

If your accountant already has a jammed schedule, hiring a bookkeeping service makes more sense. Building your financial records and reports must be this person’s sole task. An undistracted, dedicated bookkeeper will maintain meticulous records for your organization.

Financial experts agree that having an outside person handle your bookkeeping is better for business. Someone who doesn’t have an interest in cooking your books most likely won’t cook your books. Hiring bookkeeping services can keep your company more honest and your records cleaner. Therefore, here’s why your company should invest in bookkeeping services rather than accounting software.

What a Difference Good Bookkeeping Services Can Make

Let’s be honest: many companies don’t have a qualified staff member handling their bookkeeping duties. It’s often a secretary filling in the debits and credits between their regular tasks. Too often, it’s the owner of the company. He or she is the last person who should be keeping the company’s books. This creates a conflict of interest that could cause massive problems for the whole organization.

A good external bookkeeper doesn’t just perform data entry. Qualified bookkeepers will generate reports and financial statements for the company’s leadership. He or she can even identify inconsistencies and discrepancies.

A Good Bookkeeper Prepares You for Tax Season

Having a good bookkeeper will keep your organization prepared for tax time. Your bookkeeper will organize and record each transaction on a daily or weekly basis. With all records and receipts in order, you will be ready to file your taxes efficiently and on time.

Avoid Catastrophes with Bookkeeping Services

A great bookkeeper has the ability to analyze the data they compile. He or she will bring problems to leadership’s attention right away. You can stop the problem from compounding or going unnoticed for months. Small issues are easier to fix. Early detection prevents them from growing into massive issues.

Gain an Unbiased Perspective on Your Company’s Financial Health

To expand your organization and grow your staff, you need funding. But do you know where your company stands financially? Having accurate financial reports on hand can help you plan for the future. Therefore, bookkeeping services could make all the difference for your current and future plans.

Ready to Invest in Bookkeeping Services? Incompass Can Help

Does your Sacramento-area company need accounting software or bookkeeping services? Incompass Tax Estate and Business Solutions has experienced bookkeepers who are ready to serve. Secure Sacramento’s best bookkeeping services by clicking or calling Incompass today at (916) 974-9393.

Categories: BUSINESS TAX STRATEGIES.