We provide a full range of accounting and bookkeeping services geared towards assisting small to mid-sized companies.
We can relieve you and your business of a significant burden by taking care of all your bookkeeping and accounting needs. Our main objective is to help business owners reduce time spent on non-essential tasks, enabling you to focus on core business functions and increase profitability.
People talk of bookkeeping and accounting as separate disciplines, we group them both together as they are intertwined in generating the collection & spending of money and producing monthly reports showing where the money went.
Why are we unique?
Because of that great availability factor that the online world provides, it’s becoming more and more practical for companies to take this one step further. Instead of having in house bookkeeping services or doing it yourself, many businesses are finding the multitude of advantages outsourcing bookkeeping operations has. Besides the core bookkeeping, we can also maintain your GST records, prepare your payroll and take on ad hoc projects to free up valuable time for your staff.
We believe that our high level of IT literacy delivers efficiency and helps our clients to set-up their accounting systems to be effective and useful.
Nearly 30% of all large businesses in Europe and the US now favour outsourcing bookkeeper and accounting functions. If you’re in business and you’re not already outsourcing your bookkeeping and accounting, here are 11 reasons why you might want to consider doing so.
12 Reasons to Consider Outsourcing Your Bookkeeping and Accounting
- Cost savings. Expect to see a small cost saving by outsourcing, but don’t make this the primary goal. The saving is likely to be 10% to 20% of the base wage of an in-house operator. Your primary motivation for outsourcing should be getting better financial reporting and advice. One key piece of advice now could save you money later in the long term. Studies indicate that a company can save approximately 40% on operational costs by outsourcing. Outsourcing also provides businesses with access to the same secure, technological platforms used by larger companies without needing to invest heavily themselves or worry about the associated information security requirements.
- Manage less. Most business owners can only effectively manage a handful of staff. Consider hiring as many people as you can manage to carry out revenue-generating tasks and outsourcing other functions, including bookkeeping. The management activities required for each additional staff member you hire can add up to 100 hours of a manager’s time in training, directing, salary negotiations, firing and hiring. Outsource and the 100 hours can be reinvested elsewhere. A professional outsourcing company will shoulder the responsibility of replacing bookkeepers and accountants who leave and conduct necessary training.
- Own less. The things you own own you. Every additional computer or software license you own is one more you need to track and manage. Apart from the upfront cost of purchase, troubleshooting these systems will add expense and require the business to learn new non-essential competencies. Outsource bookkeeping and you outsource ownership. You save more than salary by outsourcing when you factor in ACC levies, holiday pay and Kiwisaver benefits, space & equipment requirements.
- Increase effectiveness. Counting money won’t make more money. If you have spare time to build in-house accounting teams, inject it into the areas of the business which make money like your sales team. Outsourcing is not a perfect system, but compared to the alternatives it’s far more effective.
- Do what you love. Not enough emphasis can be placed on this. No client I’ve ever spoken to went into business for the love of administration. There’s nothing worse than an unmotivated leader to bring down the morale of the whole crew. If you are still doing the books each month, stop today. Maintain your passion and do what you love most. You will excel at what you love most and are more likely to remain motivated.
- Value creation. By engaging an outsource company, you physically restrict the number of hours you are exposed to bookkeeping/accounting per month. For most services businesses, one or two days per month is adequate. Tasks take as long as the time allotted to them. A full-time employee will occupy part of your day, every day. Outsource and instead focus adding value to your client’s business.
- Profit-per-square-metre. Rent constitutes one of the largest fixed costs for businesses. You want to maximise every dollar of this expense item and ensure the space is occupied by sales teams or producers who directly contribute revenue. Work out what you pay per square metre and how much you make per square metre.
- Privacy. You may want to keep the books confidential. One of the most outsourced financial functions is payroll. This is because payroll is complicated and many firms do not want to share salary details with internal stakeholders. By outsourcing accounting and bookkeeping, the accounts are one step removed from your staff.
- Unbiased advice. In times of financial crisis, tough decisions need to be made. An outsourced accountant/bookkeeper will be more impartial than an in-house person, and will probably give you unbiased advice. Suppliers are also easier to let go of than full-time staff. Outsourcing gives you a great way to have full-time knowledge on your team without having to pay for it around the clock. By putting your books into the hands of highly skilled staff who understand the best practices and how to properly staff for certain tasks, your job becomes a whole lot easier—and effective.
- Improved control. Despite how it may appear, an outsourced bookkeeping company should provide you more control. Choose the software you want to use, the date each month the service is performed, the location and how reports are accessed. When choosing a bookkeeping company, look for value in their advice and practices. Hiring one of the big-five accounting firms to do your monthly books is an over-kill.
- Scalability options. Finally, outsourcing your bookkeeping allows you to expand or cutback in the blink of an eye. Whether you’re looking to grow your business or cut down on spending, having a reliable team at your behest, providing you with different plans and options will help you achieve your goals. Outsourcing provides flexibility that in-house bookkeepers just can’t provide. As your business grows, you go from needing a bookkeeper to needing an accountant. It is costly and disruptive to remove a staff member & often difficult to hire the right person. An outsource company is able to offer you the flexibility of both a bookkeeper and a qualified accountant as and when needed.
- Pay for what You Need. Companies have the ability to adjust the level of support or services required, based on their financial resources. Whether you require full-time expertise in a specific area or require our services for only a few hours monthly on a project basis, We allow you to adjust the level of support your business needs when you need it, including support for online accounting solutions and cloud based accounting solutions