Which Is Better: Online Bookkeeping Services vs. Hiring A Bookkeeper

Business owners are always looking to save money. We can’t blame them really. Running a successful business is very expensive and if you aren’t keeping track of your finances correctly, things can turn sour fast. Adding someone to help with your bookkeeping is one of the best things that you can do for your business. But how do you decide if you should hire a person to come in or if you should outsource your bookkeeping. We have some thoughts on that.

Finding the right person

When you decide on hiring a person to come into your business and be on your payroll, you have to go through the whole interviewing process. First you have to put up an add on Craigslist, Indeed.com or whatever other job listing sites you choose. Then you have to select a few potential candidates from the hundreds of applications you receive. Then you have to interview the people that you choose. Finding the right person to do all of your bookkeeping will be hard. How do you know that they will be dependable? If they have kids, you might have to take into account that they will have days where they can’t come in because of illness or other reasons. When you use RBQ’s online bookkeeping services, you will not have to take the time to do all of that. We do all of the interviewing and hiring and we have a whole team dedicated to making sure your finances are in order.

Costs

Let’s assume that you find a person that you trust and will be at the office 40 hours a week, every week. Let’s also assume that you are paying him/her the U.S. minimum wage which is currently $7.25/hour. At 40 hours a week, you will pay your bookkeeper $290 a week, which translates to $15,080 a year. A client of RBQ averages about $350-$400 a month depending on what services they choose to utilize with us. Let’s assume that you are on the higher side of that at $400. For a year, you are looking at $4,800. This is obviously significantly cheaper than you would pay a single person to do your bookkeeping and you are getting a whole team of experts in their field.

Accuracy

Undoubtedly, you want all of your bookkeeping to be accurate. When you hire someone directly, you are most likely going to incur some mistakes which most of the time are found and corrected before anything major happens. But sometimes, that one little mistake can be catastrophic and end up costing you even more money. With our remote bookkeeping services, we have policies put in place to have us check and recheck every number that we add into Quickbooks. We don’t have any outside distractions, either, which makes our services more reliable.

When you compare the two options, hiring an online bookkeeping service is the obvious choice. It is cheaper and less stressful for you as a business owner but still provides you with the same great service. If you need more information on all of our bookkeeping services, call Remote Quality Bookkeeping today for a free demonstration.