Outsourcing is not a new concept.   Currently, the following services are often outsourced:  Payroll, Pension Management, Taxes, Property Management, Mass marketing campaigns, Legal services and Insurance Services.

The construction industry is an example of a business model which outsources many tasks:   Electrician, Painter, Plumber, Carpenter…   In this arrangement, the General Contractor still has the responsibility for the project’s success.   You cannot delegate responsibility. 

This is often forgotten when a small business outsources bookkeeping.  Outsourced bookkeeping does not relieve the business owner of the responsibility for the company bookkeeping.   You cannot transfer ultimate responsibility. 

The rewards for outsourced bookkeeping can be high as long as the relationship and process is managed.   

Benefits to outsourcing are:

• Operating cost reduction or control
• Reducing current/future capital expenditures
• Flexibility to increase or decrease volume efficiently
• Quality improvement
• Obtaining current and ongoing expertise. 

What are the keys to outsourced bookkeeping while maintaining responsibility?  The keys are:

• Define what you want to outsource
• Review vendor’s certifications.   Do they have CPA’s on staff, Are they in the software they support. 
• Does the vendor have the proper business insurance?
• How will the workflow be handled?
• When will your books be completed/how often?
• Does the company assist you in interpreting your results?
• Does the company have proper segregation of duties?
• Are the appropriate security measures in place to protect your data?
• Is you work completed outside the US? 
• Are written procedures provided for the workflow?

You can fulfill your responsibility while outsourcing by evaluating the answers to the above questions and reviewing your results on a regular basis. 

When you think through this process, it is easy to see that outsourcing bookkeeping to a company is a huge value.    A professional bookkeeping company like Dashboard Accounting does nothing but maintain great people and systems in the United States that do bookkeeping for companies in Cleveland, Akron or anywhere.  There is a good chance Dashboard Accounting can lower your costs, improve your bookkeeping and eliminate the bookkeeper churn headache.  Plus they are offering up to 2 free hours of consultation just to see if there is an opportunity.  Why not book your free book keeping assessment today?