Don't Gamble with Poor Bookkeeping: 10-Point Guide For Successfully Outsourcing Bookkeeping To An Professional Overseas Bookkeeping Service Provider

I DISLIKE bookkeeping… and because I dislike it, for many years it was an afterthought.

I find it boring, mentally draining, and a creativity crusher. Putting it another way bookkeeping, for me, is morbid, soul sucking work!

YET… It’s vital that as business owners, our bookkeeping is done right, and done consistently on time

Bookkeeping is the heart of good accounting, and good accounting is essential.?

I’ve done it myself. Hated it! Ended up not doing it.

I asked my wife to do it (that was not the best of ideas!!!)

I hired a VA… a low cost option, he did OK, but we ended up finding a few errors in his work that needed correcting.

As business owners, we need to know our numbers. Even if you’re like me, and you have an aversion to bookkeeping, looking at key business numbers, P&L, Balance Sheet.

Our business transformed when I started to work with an Accountant / Money Coach.

This is when I discovered the importance of GOOD bookkeeping.

If you’re reading this, my guess is, that you’re probably doing one of the following:

1. You’re not doing it / resisting doing it

2. Doing the bookkeeping yourself.

3. You have a virtual assistant doing it.

4. You have outsourced it to a local bookkeeping service.

5. Your accountant is doing it as part of their service.

6. You have outsourced to a lower-cost overseas professional outsourcing service provider.

Note: In many cases, your accountant is also using option 6, a lower-cost overseas professional outsourcing service provider.

For many years, bookkeeping was an afterthought, a last minute scramble to pull receipts, invoices, statements together before tax filings.

As a startup, managing money can often take a back seat to making money.

WRONG APPROACH!!!

Good bookkeeping is essential, and when we started with a professional service, with monthly reports, our business started to grow!

The best and most cost-effective solution I’ve found: an ‘Overseas Professional Bookkeeping Service Provider’.

I’m going to share a few suggestions on how to best outsource your bookkeeping:

1. Acknowledge the Importance: Before diving into outsourcing, it's crucial to recognize the significance of good bookkeeping. Your financial records are the lifeblood of your business, providing insights that drive strategic decisions and ensure regulatory compliance.

1. Specialization Matters: When choosing a bookkeeping service provider, prioritize specialization. Look for firms that focus exclusively on bookkeeping, as they often bring a deeper level of expertise and attention to detail to their work.

1. Reputation and Reliability: Opt for reputable bookkeeping service providers with a proven track record of success. Check credentials, certifications, and client testimonials to ensure you're partnering with a trustworthy professional.

1. Consider Overseas Outsourcing: While local options exist, overseas professional bookkeeping services can offer cost-effective solutions without compromising quality. Explore this avenue for efficient bookkeeping at a fraction of the cost.

1. Communication is Key: Prioritize clear and consistent communication with your chosen service provider. Accessibility and responsiveness are essential for addressing queries and concerns promptly.

1. Ensure Data Security: With outsourcing comes the need for robust data security measures. Verify that your bookkeeping service uses secure, cloud-based accounting software to safeguard sensitive financial information.

1. Seek References: Before committing, ask for references or case studies from other clients. Hearing firsthand experiences can provide valuable insights into the quality of service and compatibility with your business needs.

1. Define Expectations Clearly: Set clear expectations regarding the scope of work from the outset. Clearly outlining tasks and responsibilities helps prevent misunderstandings and ensures alignment between you and your service provider.

1. Trial Period: Consider starting with a trial period to evaluate the effectiveness of the bookkeeping service. This allows you to assess performance and compatibility before making a long-term commitment.

1. Monthly Reporting: Insist on regular monthly reports to track your financial health and identify any discrepancies early on. Scheduled reviews with your service provider facilitate strategic planning and informed decision-making.

Outsourcing your bookkeeping is not just about offloading a tedious task - it's about securing the financial foundation of your business. By investing in professional bookkeeping services, you're safeguarding against costly errors and positioning your business for sustainable growth.

Don't gamble with your business's financial health. Choose the path of professionalism and accuracy by outsourcing your bookkeeping to trusted experts. Your business—and your peace of mind—will thank you for it.

If you're looking for a great recommendation, a trusted resource, who we choose to refer our clients to, at the cost of losing potential Virtual Assistant business to, message me, or email me at [email protected].