Introduction
As a business owner, you are highly aware of the cruciality of keeping a clean track record of all your accounting. Numbers can make or break your business.
This blog will list 3 key reasons you should invest in external bookkeepers and why hiring internal bookkeepers might not be the best option for your business.
What is a Bookkeeper?
A Bookkeeper is responsible for recording and maintaining a business’ financial transactions, such as purchases, expenses, sales revenue, invoices, and payments.
They will record financial data into general ledgers, which produce the balance sheet and income statement.
Why should I invest in external bookkeepers?
Field expertise
As a Business owner in Indonesia, it can often be challenging to understand the country’s various complex accounting and tax legislations.
Having the right bookkeeper can help you easily navigate the complicated and constantly changing legislation laws in Indonesia without negatively impacting your business.
They can provide all the essential financial information about your company based on your business circumstances.
Time-saving
Time is the most precious resource.
As a business owner, you must be highly attentive to other things, such as customer satisfaction and business progression.
Without a professional bookkeeper, you will spend all your time dealing with your books and no time for growing your business.
Prevent errors and mistakes
Unlike regular employees, bookkeepers are highly meticulous professionals who make no errors or mistakes that can jeopardise your business.
They will be able to identify errors in data entry and correct them before finalising.
Accurate and quality books also mean that all your invoices are sent, there are no overdue bills and your taxes can be reported promptly and maximise the tax benefits.
Why should I not hire internal bookkeepers?
Expensive hiring costs
Hiring your staff and building your internal bookkeeping team signifies that you’re ready to fork out a full-time salary every month to each employee – even during non-tax season and when there is less work.
Therefore, hiring an external bookkeeper would ensure you save money and have total freedom towards the scalability of your business.
Wasting time and money on overhead and training
Bookkeeping is a highly specialised task that requires intense training and solid experience, and finding a candidate with the proper experience and knowledge can be extremely challenging.
It will not only take time to search for the right candidate but if you, unfortunately, do land someone who does a poor job, all your time and money would be wasted.
Furthermore, with hiring full-time employees, you have to consider more expenses, including; social and health insurance, training, monthly salary, sick days and benefits, annual leaves and paid leaves.
So there you have it, the three key reasons why you should invest in external bookkeepers.
With all these disadvantages that we have just discussed, the most optimal solution is to have outsourced bookkeepers and accountants.
Searching for professional financial services for your business in Indonesia?
Our Bali Accounting team works hard to put you at ease and provide tax and accounting services you can rely on and trust.
Time is the most precious resource.
As a business owner, you must be highly attentive to other things, such as customer satisfaction and business progression.
Without a professional bookkeeper, you will spend all your time dealing with your books and no time for growing your business.
