The benefits of outsourcing bookkeeping and accounting offer numerous advantages for construction industry contractors over competitors who don’t outsource. In this blog, we’ll identify some of the benefits of outsourcing bookkeeping and accounting as well as offer some suggestions on what you can do with the time and money saved in the process.
Benefits of Outsourcing Bookkeeping and Accounting
If you’re like most of the contractors we talk to you’re running your own business, hitting successes along the way, and wearing many hats. You’re in the field all day either working or managing workers, checking on projects, and running supply errands. At the end of the day you drive home exhausted but proud of your work.
Instead of enjoying a well-deserved evening with your friends or family, you start in on some paperwork… and payroll… and bookkeeping… and… Zzzz…
Another day is over, and you’re right back in it the next day.
You’re trying to understand how to make life a little bit simpler. How to spend more time with your family and enjoy more of your success. How to grow your business so it becomes even more profitable. And how to see more results while doing less.
The burden of keeping your own back office is a heavy one to bear. It will cost you hours of frustration, time, errors, backtracking, and guestimating. It’s a constant crossing of fingers and hoping for the best just to see little reward.
What if you’re the exception… what if you know how to do your books and don’t mind doing them?
Well, you’re still investing time that can never be retrieved again. Time that you could have spent on more productive tasks for your business or personal life.
A good contractor knows what they’re good at: their trade. Like any specialist, an excellent contractor understands that to perform best in his trade, he must devote as much of his working time as he can to that trade – and little else.
But how do these contractors make that time?
They outsource any task that another individual could perform better than they can. They outsource bookkeeping.
Yup, that’s it. Time freed up.
The largest task completely unrelated to working with your customers is keeping up with your company’s bookkeeping. As a serious customer-centered contractor, bookkeeping should be the first thing you outsource.
A bookkeeping service will remove the tangled web of back office chores from your desk. They’ll execute on your needs quickly and efficiently, because that’s their trade.
The time you spent toiling over taxes, payroll, checks, line items, invoices? Freed up.
What would you do with that kind of time?
Well, you might:
- Spend more time with current clients
- Secure bigger and better projects
- Advertise for new clients
- Start a company website or newsletter
- Continue your trade education
- Work on building a company brand
- Upgrade your social media efforts
Those are just a few ideas… and of course there is also the opportunity to free up time for your family, friends, and hobbies.
Power Your Back Office
So why outsource bookkeeping?
Three key reasons:
1.) Skills: Like most contractors, you’re probably not 100% confident handling that area of your business.
2.) Focus: You’d rather be spending that time focusing on growing your company or other pursuits.
3.) Energy: As a business owner, you shouldn’t be entrenched in menial tasks that deplete your energy.
Seems like a no-brainer when we put it that way, right?
Perhaps that is why so many contractors are choosing to let go of the headache of endless paperwork and are instead asking Apparatus to power their back offices.
Why outsource your bookkeeping? The benefits of outsourcing your bookkeeping and accounting.
- Cost savings on in-house salary plus healthcare insurance & benefits.
- Up-to-date knowledge of tax laws and implications.
- Specialty bookkeeping services offer years of accounting experience.
- Assurance that you are in compliance with industry regulations.
- Time savings to focus on building your business customer base.
- Focus your efforts on your core operations.
- Cost savings could be used for an increased advertising budget.
- Cost savings could be used for a new website and SEO budget.
- Use of the latest in accounting software updates and technologies.
- Systems integration expertise.
Are you ready for real back office power? Contact us today!
Do you know a contractor who should outsource bookkeeping to Apparatus? Contact us and tell us about them.