Outsourcing Accounting – How to know when it is time
Outsourcing accounting too soon
If you:
Are an average (non-construction related) small business owner who factors in the time needed for administrative and accounting tasks you can probably wait to outsource until such time as you become quite busy.
Can’t identify the business result you want to see (an actual benefit to you or your business) perhaps you should wait. You must be clear in your own head about what you’re paying for and what you expect as a result. If you think of an accounting specialist as a cost generator rather than a business and profitability advisor, it is likely you’re not yet ready.
Are hell-bent on having your fingers in every piece of the pie. If you’re an (as yet) unconverted micro-manager who has a low trust level, it is probably better that you wait.
Outsourcing accounting when it is too late
If you:
See that your books and therefore your business is so messed up, so in debt, so unorganized, as to be on the brink of bankruptcy – it is probably too late.
Outsourcing accounting just in time
If you:
And your office staff are constantly feeling as if you have too much to do and not enough time to get it all done, it is a prime time to begin looking for an outsourced accounting provider.
Understand outsourcing your accounting duties can be a total game-changer for your construction contracting business, then finding a virtual accounting firm should be your next move.
Know you’re ready to delegate the accounting operational tasks so you can focus on tasks of a business owner designed to grow your business, it is time to pick up the phone.
Outsourcing accounting pays off
For example, you have time for networking, meeting with in-progress clients, selling your services, and developing more ways to serve both your clients and your employees.
As independent contractors, virtual accounting specialists are part of your team without the “headache” of extras. Extras such as benefits, taxes, sick pay, and so on. This article from Entrepreneur tells why outsourcing certain functions can mean better talent at lower costs.
Outsourcing accounting with the Schulte and Schulte team means:
You get the best of our extensive construction contracting accounting knowledge and acumen.
Here are a few things we are good at dealing with for you:
Job costing
Audit readiness for high-risk workman’s comp companies
Complicated sales tax issues
Payroll
Inventory tracking
Systems development and deployment
Financial planning
Quick checklist
This quick checklist will be of help when you’re trying to decide if you’re seeking an outsourced accounting firm just in time.
Your business is growing.
You or your staff find you’re spending more time learning than doing.
You’re drowning in administrative tasks.
Your office staff is fraught with overwhelm.
You’re running out of time to focus on what makes you money.
Your personal life is taking a toll.
Wondering if now is the time to outsource your accounting and back office needs? Get in touch here and we’ll talk.