Outsource bookkeeping

Outsourcing the Finance Function

Outsourcing the Finance Function

As business owners we should never pretend to know everything.

You need to know when to let go. Some pharmacy owners like to control everything, thinking the only way it will get done properly is to do it themselves. However, that mindset can lead to issues of no adaptation, systems becoming outdated, lack of compliance, inefficiencies and so forth.

3 Reasons Why You Really Should Outsource Your Bookkeeping. (You Save Money, Time and Get Security)

Bookkeeping is one of the most vital tasks a small business needs to do. It is also one of the most time consuming and critical tasks because it is essential to have an accurate overview of your financial situation and to stay out of trouble with the taxation department. That is why you should really outsource your bookkeeping.

Bookkeeping takes time - a lot of time

Bookkeeping takes a lot of timeFor the companies who outsource their books, the decision means saving time and money and receiving high-quality bookkeeping services at the same time. When you have people with specialist knowledge looking after your accounts, you remove the risks typically involved with relying on in-house staff. You are also more secure protected from making inadvertent mistakes that could result in a tax department investigation.

Does outsourcing make sense for you? Here’s a closer look at the specific advantages it may offer:

Financial Savings

It’s no surprise that outsourcing work to an outside provider, versus hiring a full-time employee, saves you money. When you outsource,  you match the work hours/amount of projects to your needs and avoid typical employee expenses like benefits, insurance, payroll taxes, unemployment taxes, paid time-off, etc.

You don’t have to provide work space, office furniture, computers or software, either. Even with the costs involved in farming out work, the financial savings are still significant.

Time Savings

Think of the weekly hours it will take to manage in-house bookkeeping staff—taking away from the time you can spend on business- and relationship-building activities more directly aligned with your company’s mission. Outsourcing alleviates this need. You don’t have to deal with the typical headaches involved with recruiting, hiring, retaining and overseeing staff because that’s what the service provider will handle. That means you’re free to focus resources on what matters most.

How do you spend your time?

Take a few minutes and consider how you spend your time. Are you sitting at your computer at night entering figures late into the night the best use of your time?  And do you have the time to keep up with the complex and constantly changing taxation and superannuation laws?

Peak Industries regularly review changes in the law as they happen so you’re protected. We specialise in the Pharmaceutical and Medical Industry, which means that we are the experts in that field.

Expert Services means security

Third-party service providers specialise in the work they do, so they’re the perfect resource for getting projects done. What’s more, service providers keep their skills fresh to keep up with the competition, ever increasing the quality of their work. This means when you go to a bookkeeping service, you can trust that your accounting will be handled well.  Reference

Peak Strategies - Qualified specialists

Because our team have the knowledge and experience, we keep you up-to-date and safe.

Make the best of your time, save money and get the experts specialising in the Pharmacy & medical industry to handle your bookkeeping and accounting needs. Contact John from Peak Strategies today.