Can you believe Thanksgiving and the holidays are just around the corner?

For small business owners, it can be the most hectic time of year; from navigating the end of year finances, sales, and not to mention taking time to enjoy some quality time with your family, it can be a lot to manage! As you take time to be thankful for all the people that help make your business run smoothly—don’t forget about your online bookkeeper! Here are a few reasons to be thankful for them as the holidays approach.

1. They Save You Time (and Money!)

One of the benefits of a virtual bookkeeping service is that they do everything an in-house bookkeeper would do, but cheaper. In the long term, outsourced bookkeeping and accounting services are far more cost-effective because you do not have to pay their salaries or benefits – and they don’t take up space in your office. They can be paid hourly or by fixed monthly rates, and they’re continuously updating your books and backing up all your records for easy access, which can save you tons of time. They keep your finances organized and readily available, so you can focus on the day-to-day running of your business.

2. Online Bookkeepers Make Tax Time a Breeze

Is there anything more hectic than preparing for tax season right after the holidays? Thank goodness your bookkeeper already has all your key financial documents ready to roll. They are the masters of tax time. They’ll know exactly where you stand at the end of the fiscal year, which can help you get a jump start on planning all of your financial goals for the new year. Hooray!

3. They Make Sure Your In-House Accounting is in Order

Do you have an in-house financial team? Great, how about a virtual controller? Having an outsourced controller can be an incredibly useful tool—and you’ll be so thankful to have one on your side! A controller is a neutral party that oversees an accounting or payroll department and reports directly to the CEO or business owner to make sure no mistakes or errors were made (we’re only human, mistakes can happen!). They can help your business run smoothly year-round.

4. They Help You Keep Your Cool

Running a business can be an arduous, downright exhausting task! As a small business, staying on top of your records and finances is crucial. And now, in the wake of COVID-19, most businesses have little to no room for financial error. But what happens if something goes wrong? If you’ve hired a highly–trained certified public accountant (CPA) like the ones at Our Bookkeeping Team, they will quickly inform you of any red flags—and most importantly, they will know how to correct costly errors and get you back on course. They’ve got your back!

5. They’re Industry Experts, Thank Goodness!

Experienced CPAs like ours take a tremendous amount of pride in their work. They are also trustworthy public servants: CPAs must pass a rigorous exam to prove they can uphold the highest level of service. They stay on top of industry standards and accounting best practices, so you don’t have to. Their goal is to build a long-term and strategic partnership with their clients. A great CPA is invested in your success and genuinely cares about your well-being. That’s a rare quality in many outsourced business partners!

6. They Can Represent You During an Audit

Need we say more?

Just the word audit can send a chill down your spine. But fear not, because if you use one of the bookkeepers at Our Bookkeeping Team, for example, they are beyond knowledgeable about the audit process—in fact, many of them are ex-auditors! You’ll be thankful, and a lot less stressed, when you have an experienced team in your corner during an audit. Virtual bookkeepers can get your finances organized, ensure your books are GAAP-compliant, prepare financial statements, and even manage the entire process if needed.

7. Their Services are Made to Order

Did your business downsize this year, or maybe double in size? Businesses are always changing, and having your finances organized 24/7 can be a huge weight off your shoulders. If you’ve downsized and no longer need an in-house accounting department, an online bookkeeping service can step in. Since their services are made to order, they’ll cost a fraction of what it would be to pay full-time employees. If you need a full-service bookkeeping team, they can do everything at a fixed monthly rate such as payroll, general ledger accounting, accounts payable and receivable, just to name a few. Maybe all you need are a la carte services to fill in the gaps? Consider an hourly finance team to keep things tidy. In any financial capacity you need, your virtual bookkeepers are there for you. That’s definitely worth a little gratitude!

8. They Help You Spend Wisely

Wouldn’t it be great if someone could follow you around and give you a cost analysis of why you shouldn’t make that big impulse purchase at the mall? A bookkeeper probably won’t go shopping with you, but they can be the person that helps you avoid costly mistakes within your business. They’ll identify risks and work aggressively to assist you in managing expenses within your company. They can advise you (and if) making big business purchases make financial sense. They’ll also provide the assistance you need in obtaining financing for your future projects.  

9. At Your Service

If you use a virtual bookkeeping service such as Our Bookkeeping Team, then you know that having financial experts at your fingertips is priceless and worth being grateful for year-round! As Thanksgiving approaches, it’s a fantastic time to be grateful for your bookkeeper. Chances are, they’ve worked hard to make sure your business finances are in great shape—so you can enjoy your holiday with your family and not fret over year-end financials!.

Likewise, if your business needs a little (or a lot) of help with bookkeeping, accounting, or controllership, consider reaching out to Our Bookkeeping Team! We offer full-time or as-needed services at affordable rates to suit any business budget. Call to discuss your virtual bookkeeping needs today at 213-468-8316 or fill out our contact form here.