New article in Talk Business magazine - "Bookkeeping - cutting costs"

Posted by Brian on March 26, 2014

Whitehill invited to contribute to national magazine focused on Bookkeeping and Accounting.

In March this year we were invited to contribute to a special edition of the Talk Business magazine, which is distributed across the UK and available online.  We decided the best theme we can tackle is the benefits and cost savings associated with asking professionals to take on your books.  Drawing on years of experience, we believe that most small businesses regard bookkeeping as a waste of money - a necessary evil.  

Yet every year, we know businesses fail because of poor bookkeeping and accounting. Everything from not getting VAT or self assessment returns in on time to failing to collect money from clients can massively impact a business. Putting bookkeeping and accounting into the hands of professionals can make a world of difference, getting the hair out of your eyes so you can focus on what you do best. Some of the fastest growing businesses we know have "outsourced" their finance team to save money and improve the focus of the business.

But how about the cost? Some businesses are being charged silly money for basic accounting or bookkeeping; this is one service it definitely pays to shop around for. And don't feel restricted by distance; these days you really don't need someone sitting in your office. "Virtual", or remote bookkeeping uses the internet to bridge the gap between your location and the bookkeeper, and is becoming much more widespread. A range of options exist for remote bookkeeping, giving you full control of both the cost and your records.

The bottom line; how much is it worth? Prices vary depending on whether you're happy to take the plunge and go online, and on the size of your business. But typically, our clients save around a third of the cost of employing a bookkeeper in house when they move to us. Well worth the effort.

If you'd like a copy of our full article, get in touch.