Why outsource your accounting?
4 REASONS WHY YOU SHOULD OUTSOURCE YOUR BOOKKEEPING AND ACCOUNTING TO 118ACCOUNTING
As a small business owner, running your business takes priority – accounting for the accounting in your business…. probably only happens when you have a gap – why not look at ways to make that process simpler and faster, by outsourcing your bookkeeping and accounting to 118Accounting?
1 Lower Cost
How do you value your time? Every small business owner knows that time is one of your most valuable assets. Having more time to focus on your business or your family is worth the move.
Even If you have an in-house bookkeeper and/or accountant, outsourcing will result in a significant decrease in the operating costs of running your business. Besides the salary of an employee, you will be saving on all of the additional overheads and effort of just having an employee.
2. Seamless, professional invoicing
At 118Accounting, we use Xero for all of our accounting and bookkeeping services. This means that you will have access to customisable, professional invoices. Invoices that you can create and send directly from Xero, and even from your phone.
3. Kill the spreadsheet!
Spreadsheets are great for a wide array of tasks and analysis; not so much for your bookkeeping – They are clumsy and risky. You run the risk of losing your data with one wrong move. The process is time-consuming and prone to errors, errors that could cost you dearly when it comes to tax season, or just reviewing the numbers to make those important financial decisions.
Because we use Xero, all of your data is securely stored in the cloud. You will have access to up to date and accurate data, at any time, from anywhere.
4 Digitisation
Gone are the days of manually capturing data from a bank statement or supplier invoice. We focus our energy on digitising every process and function using the latest in cloud technology – resulting in time-saving benefits for ourselves and our customers.
One of the features we like most from Xero, is the ability to securely connect to your bank account. This allows us to automate the capture of transactions as soon as they hit your bank feed, and you not having to send us any bank statements.
A huge consumer of time is having to manually capture your supplier invoices, but not anymore. The software that we use will automatically read and capture it in Xero. All we have to do is review and approve, all you need to do is email it to us – or better yet, your suppliers to send it to us directly.
Any and all supporting documents (supplier invoices, supplier and customer contracts, statutory documents) – can be secured directly in Xero. Meaning you do not need to store these documents yourself and they are safe from being misplaced or getting coffee stains on them.
Are you ready to make the move – or do you need some more convincing? Either way, DM your contact details and we’ll contact you to discuss and help you make the move.