You’ve been growing your Limited company for some time now and maybe you’re currently managing your own bookkeeping. It’s probably getting more difficult each month to keep on top of things and let’s face it you’re always going to put client work before doing your bookkeeping as that’s what generates the income.
As a Limited company you have legal obligations to keep records of your financial transactions including monitoring all legitimate expenses your business incurs. However, bookkeeping goes far beyond just monitoring your incoming and outgoing transactions. Investing in the right bookkeeper can make a huge difference to the profitability of your business. Not only will your bookkeeping be accurate and up to date, you will always know your financial position. This is essential for making those important business decisions.
At Long White Cloud Accounting we can analyse your bookkeeping data, giving us an insight into the future of your business. By producing management reports and reviewing them on a monthly basis, we can put steps in place to ensure you stay on track to meet your business goals.
Yes of course, you have the option to employ a bookkeeper in house but with this route it will take up more of your time. You will need to ensure that you have the right software in place for them and that your employee has the relevant training. You may need to invest in future development and training for them as legislation is changing all of the time, then there’s the cost of overheads. It also goes without saying that you also need to commit to the hours which they work and the expense of tax, national insurance and pension contributions.
Outsourcing saves you time
Bookkeeping is not your area of expertise, so it will probably take you much longer to do your bookkeeping than it would a professional. By outsourcing you will get this vital time back so that you can invest it in areas of your business that need you the most.
A bookkeeper knows the best software to use
At Long White Cloud Accounting we use Xero and Dext for all of our clients. This gives you a streamlined bookkeeping process which you have access to in real time and from anywhere you have an internet connection. Your bookkeeping will be much more accurate using cloud accounting and a receipt will never go missing again, just use the app to upload as you spend.
A bookkeeper can help you to manage your cash flow better
Whether it’s implementing new payment techniques, chasing outstanding debt or reviewing your expenses, we can help you to improve the health of your cash flow. We can also give you great advice on how to save for your VAT and tax bills.
Reports and meetings
As we touched upon earlier, depending on which bookkeeping package you choose, we can produce insightful reports and review the data during our monthly meetings. These meetings will be really beneficial to your business, not only for setting financial goals but for advice and feedback on your current situation.
When you outsource your bookkeeping you only pay for the services you require and your bookkeeping fees are classed as an allowable expense. You will find that bookkeepers like us, niche in a particular area so we’re experts at doing the books for VAT registered limited companies, making us the perfect bookkeeper for your growing business.
If you’ve been considering outsourcing your bookkeeper to take your stress away, then book a discovery call today. We’d love to hear about how we can support your business.
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