It can be a big decision: do we outsource our work or hire someone internally. You are at the point of making a decision, usually when someone has left, you are stretching yourself too thin or you simply need extra help. There may not be physical office space for a new member of staff.
There are benefits of both, if you hire someone internally they will often be involved in other parts of the business for example answering the phone, being on site if customers come in and being involved with other jobs ad hoc. You may find it easier having the bookkeeper on site a few steps away rather then having to email or ring an external one.
Outsourcing however, is a great way to save on costs. An internal bookkeeper will spend time being managed, outsourcing means that these costs aren't there.
You may actually only have a few hours of bookkeeping a week, an internal person can be costly if they are employed for more time then there is actually work. You may find it hard to employ someone to work for just half a day, with outsourcing the issue doesn't exist, you only pay for the time that you use and with a service like ours it's charged in 15 minute intervals - if your books take 1 hour 45 minutes that's the time that you get charged for.
Reduced risk of fraud, unfortunately dishonesty is a trait some people exhibit and a hired member of staff may find 'opportunities' such as fiddling petty cash expenses, if they are the only person in the role it becomes easy for them to cover their tracks especially if you trust them implicity. Internal controls may not exists.
It doesn't happen often but a few months ago there was a story in a local newspaper about a bookkeeper fiddling expenses for a well known local hotel - so unfortunately it does happen. When you outsource it reduces this risk as the outsourced person doesn't have access to the petty cash tin or the takings.
Flexibility is another great reason to outsource, here at Girl Friday Cornwall we offer bookkeeping, virtual PA and well as website design and management. You may find that you want to combine our services, a traditional employed bookkeeper is unlikely to have these skills.
If you have finished reading this and would like to discuss outsourcing work to us please get in touch by sending an email to: firstname.lastname@example.org or by calling: 07928 676307.