For businesses with revenues ranging from $2 million to $10 million, upgrading from an admin to a part-time bookkeeper can be a pivotal decision that transforms financial processes, optimizes regulatory compliance, and fuels business growth.
What are the top benefits of hiring a part-time bookkeeper for your business?
Part-time bookkeepers bring many benefits, including:
- Avoiding simple but costly errors like invoicing mistakes
- Mitigating fraud risk
- Taking work off executives’ plates
- Reducing overhead expense
Prevent Losses due to Errors
Have you ever seen an invoicing mistake damage a client relationships? Or heard employees complain about payroll errors?
Whether ensuring timely payroll processing or filing sales taxes accurately, competent bookkeepers play a vital role in preventing financial losses and maintaining accurate records. By having a professional small business bookkeeper, you safeguard your business from these avoidable pitfalls.
Mitigate Fraud Risks
Are employees buying personal goods on Amazon with company credit cards? Your bookkeeper is the most likely person to prevent and detect fraud. Bookkeepers should be fanatics about financial controls to safeguard your business.
At the same time, a nefarious bookkeeper with poor controls is the most likely person to commit fraud in a small business.
If you’re unsure about your organization’s fraud risk mitigation measures, consulting with an accounting professional can help identify potential vulnerabilities and establish robust controls, ensuring financial oversight and protecting your cash.
A Back Office you Believe In
Business financial management can be a daunting task, but with a professional small business bookkeeper, you can feel more confident and assured than ever before. Unlike administrative staff or business owners juggling multiple responsibilities, part-time bookkeepers are financial specialists with unmatched efficiency. Their dedicated focus on accounting data entry and processing allows them to streamline processes, ensuring speed, accuracy, and robustness.
From entering bills and sending customer invoices to processing payments through various methods like checks, ACH, or payment processors such as Stripe, part-time bookkeepers meticulously organize your financial records, leaving no room for errors.
With a strong bookkeeper in place you can confidently delegate responsibilities, allowing you to redirect your valuable time towards strategic decision-making and core business operations, accelerating growth and success.
Reduce Expenses with Part-Time Bookkeepers
Part-time bookkeepers are cost-effective solutions for businesses seeking accounting help without breaking the bank. At CFOshare, our bookkeepers are based in Mexico and provide services at a lower cost compared to hiring bookkeepers full time in the USA. This cost-effectiveness allows you to access bookkeeping experts while leaving cash available for other business investments.
When to avoid a part-time bookkeeper
Some businesses are not suited for part-time bookkeepers. These include small businesses which are:
- Under $1M in revenue. This is often too small to afford a part-time bookkeeper.
- Over $20M in revenue. At this size a full-time bookkeeper likely makes the most sense.
- Manually invoicing over 200 customers per month.
- Entering more than 100 bills per month.
What to look for when hiring a part-time bookkeeper
When hiring bookkeepers for your small business, partnering with a reputable service provider like CFOshare brings unmatched benefits that set your mind at ease. CFOshare’s rigorous vetting process ensures that only qualified candidates join their esteemed bookkeeping team, providing an extra layer of quality assurance and protection for your financial records. With seasoned professionals overseeing every aspect of bookkeeper services, you gain peace of mind knowing that your financial records are meticulously managed, ensuring regulatory compliance and financial oversight.
Are you ready to interview part-time bookkeepers? Schedule a consultation with our experts at CFOshare to meet our team and see if we are a good fit.
This article was written by a CFOshare employee with assistance from generative AI for rhetoric, grammar, and editing. The ideas presented are a combination of the author’s expertise, original ideas, and industry best practices.
