In-house bookkeepers, freelancers, and outsourced partners all have pros and cons. The best choice depends on the level of service your business requires.
If you own a small business, you might be used to doing many tasks on your own. For example, you may be responsible for contacting your suppliers, marketing your products, monitoring sales, and responding to customer inquiries and complaints. You might even do bookkeeping on your own. Although you might think you’re saving money by managing your cash flow yourself, you can actually do more harm than good to your money management.
An accountant or a bookkeeper can help you manage your day-to-day finances. These experts monitor cash flow from different accounts, bills and invoices, and they can organize your books to improve your business’s money management. However, before you hire a bookkeeper or an accountant, it’s important to understand the differences between the two, the pros and cons of hiring one, and what to look for in a bookkeeper.