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Outsourcing your Accounting – Is it the Right Thing to Do?

When people hear the word ‘outsourcing’, they tend to panic, and with good reason. Outsourcing is the quickest way to funnel jobs out of a community, whether you mean to or not. The problem however is that sometimes if you fail to outsource to an outside company, you might find that your current company folds much faster than you intended(which is to say at all). So why exactly would you need to outsource?


The Reason for Outsourcing Your Accounting


Let’s say for a moment that you are a startup business, or perhaps you are simply in the middle phases of becoming established. Either way, you will probably find that you cannot afford everything you need. For example, can you really afford to train your existing employees for accounting? Probably not, and so your immediate response would be to find someone who specializes in it. Wait right there, didn’t we just establish that you were trying to save money? Yes, so how does paying for a qualified accountant help you? Short answer: it doesn’t.


Now that we have established that, you may be wondering why you cannot simply use someone who has the knowledge but is new. Okay, that’s another good idea, but once you do that, you have now managed to hand a vital part of your company over to a novice. Now you are beginning to see the reason or outsourcing!



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