In-House Bookkeeping vs Bookkeeping Company

Bookkeeping is an integral part of every business. Anyone who would like their business to become successful will make sure that their business gets the best of bookkeeping services at all times. Bookkeeping is not as easy as most people assume it is. However it is not all that difficult either in fact you can choose to do the work on your own or you can get a professional to do that for you. When you elect to go with a professional then there is always the choice of hiring a bookkeeping company to do the work for you or you can hire an in-house bookkeeper. Which of these two options sounds favorable?

Hiring an in-house bookkeeper

When you hire an in-house bookkeeper you have the advantage of having them working only for your business. They have no other business to bother them and therefore they are able to concentrate on your business’ needs at all times. There will be fewer financial mistakes and as a result better financial records for your business.

Nevertheless, hiring an in-house bookkeeper is going to be informed by several factors such as the size of your business. If you are just starting out then you probably do not have as many transactions that need to be recorded as a multinational company. This means that you will not be able to keep your bookkeeper as busy as you would want them to be but you still have to pay them. Secondly, you will have to treat them like all other employees- you will give them the holidays, the weekend off and such things. In other words you will have to hire at least two bookkeepers, when one is on leave then the other continues with the work. This is too costly for most businesses.

Get better bookkeeping services

It is because of this that many business owners opt to go for a bookkeeping company in their area of residence. If you are running your business in Melbourne then all you need to do is run a quick search on Google for the best Melbourne bookkeeping services– you are sure set to find several of them. One thing that you will love about these companies is that they will not take up space in your office. This is a plus for many businesses struggling with office space issues.

Secondly, you are guaranteed that you will always get premium quality professional services. If your in-house bookkeepers decide that they just won’t do the work well it might be hard to notice. On the other hand a bookkeeping company will want you to recommend them to your friends and so they will always do the best work.

Thirdly, these services tend to be cheaper when compared to an in-house bookkeeper. The rates are very reasonable to make certain that you do not have an excuse for not getting a bookkeeper. Moreover, you will not be paying for two bookkeepers (in as much as you might get more than one), there will be no allowances for you to cater for and such things.

Author bio

Terry Anne is human resource manager and consultant offering Melbourne’s small business owners guidance on hiring various professionals. To learn more about Melbourne bookkeeping services visit her blog.