For example, a wholesale produce business is going to look a lot different than a plumbing service. Even if a freelancer has certifications or several years of experience, accounting for different industries varies. Hiring a remote freelancer is another way to keep costs down.įinding a freelancer who has experience in your specific industry can help reduce the potential for any costly, avoidable mistakes. Most new accounting software is cloud-based so that all bookkeeping work gets done remotely. Still, it's becoming increasingly standard for bookkeepers to work virtually, especially if your business is already pretty paperless. Some freelancers work in person so that they can come to your office or home office. If your business finances are simple, a freelancer is a great option. Also, since freelancers are lone wolves, there is some risk that if they have an emergency or become too busy with work, you could experience interruptions in service. The big drawback of hiring freelancers, is they set their schedules, so your bookkeeper may not be available every day. You can expect them to charge you an hourly rate (in the range of $25 - $85) or a flat rate. Freelancers will mostly likely charge lower rates than firms because they'll have lower overhead. All bookkeepers do bookkeeping, but not all accountants do bookkeeping.Ī freelance bookkeeper will be the most affordable option for outsourcing your bookkeeping. They should either be a bookkeeper or an accountant. The person you hire should have bookkeeping experience. When it comes to hiring a bookkeeper, here are your options: you can hire a freelancer, a firm, or an employee. Your business is doing so well that you don't have time to sit down and focus on the bookkeeping. You can't figure out why the bank balances don't match, and so you never reconciled your accounts. You've tried to set up your chart of accounts, only to quit after getting stuck deep inside a Google hole. It's probably time to outsource your bookkeeping if any of the following are true: Even though bookkeeping software has become user-friendly, you still might end up making costly mistakes if you don't have some accounting chops to help you understand how to troubleshoot and fix things. But the actual act of accounting is mildly satisfying, at best, and frustrating to the point of tears, at worst. Seeing how much money your business made and watching profitability grow can be fun.
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