Most small to medium businesses do not require a regular bookkeeper. Most in your free time bookkeepers that these businesses hire generally don't hang in there for long. These businesses manage to get thier work done by way of a bookkeeping firm.
Generally Singapore accounting firm provides two types of services, Onsite bookkeeping services and Offsite bookkeeping services. This information will explain at length what all these services are, and what their pros and cons are like.
For onsite bookkeeping, a bookkeeper physically goes to work in the commercial place. It is somewhat like the bookkeeper that you hire with some differences. The bookkeeping firm sends a bookkeeper to the client's office.
Onsite bookkeeping service has several advantages. The greatest advantage obviously is the amount of money you save by hiring someone only for the occasions you need.
When you yourself have this kind of service, you may not need to stick to the exact same bookkeeper if you think she or he is no longer working well for you. Just call the firm and you can have a different person working for you. When you will find the perfect bookkeeper, you can ask the firm to send the exact same person to work. There is a constant get to do that if you hire a bookkeeper.
Another benefit is that you may not need to bother about employee benefits. You pay right to the bookkeeping firm, so there's no paycheck involved.
Accounting and Taxation rules are complex and chances are most bookkeepers don't know these rules completely. Whenever you get an onsite service, there are other bookkeepers your bookkeeper can ask questions to. Most of these firms are ready on the toes to help them.
There are a few disadvantages in onsite bookkeeping too. Onsite bookkeeping service differs in one bookkeeping firm to another. Some firms have minimum service purchase requirement. Like, this can show that you need to get at the very least certain amount of days per week to manage to get onsite service.
As your onsite bookkeeper is no longer working full-time for you, you will still need to do some work like collecting invoices and bills during whenever your he or she is not working.
For Offsite bookkeeping, the bookkeeping firm does the job in their office. This kind of service is also known as virtual bookkeeping service (no it is not just a computer working for you, an actual person works on your files). Basically, it is like as though your bookkeeper's office is from your organization location. You will need to send your documents like invoices, bills, bank statements, etc to the bookkeeping firm.
The main advantageous asset of offsite bookkeeping is cost of service. It is surprisingly cheaper (as cheap as $50 per month) than onsite bookkeeping service. If you cannot afford to get a bookkeeper, you must at the very least get offsite bookkeeping service. With these prices, it is almost ridiculous not to accomplish bookkeeping or try to accomplish bookkeeping yourself.
Some firms send their express courier service to pickup your documents. If you are a computer savvy, you can scan your documents and email or upload for their website. You may also fax your documents. While sending large amount of invoices, bills and statements by email or fax certainly look more frustrating, these methods are good whenever you only have to send a couple of documents, like a lost invoice, or the bank statement etc.
Always confirm what services are included when buying offsite bookkeeping service. Some firm don't provide payroll service or tax remittance service whenever you buy the regular offsite bookkeeping service. Some gives you monthly reports while other firms might just give your annual reports.
Another important things to consider would be to make sure you know very well what software your bookkeeping firm uses. Although most of us like bookkeepers with many years or even decades of experiences, they may be using software that is outdated or almost outdated. At the time of writing this article, QuickBooks and Simply Accounting are two most popular software that most bookkeepers are using.
Finally, Stay abroad based business bookkeepers unless you are absolutely sure about the quality of their service. They could stop their service anytime as time goes by and you may be left with your organization data that is completely unusable.