Are you feeling frustrated because you don’t have enough time to focus on the core aspects of your business? Do you promise yourself every week that this is the week you’ll get on top of things, but it never seems to happen?
Running a business is always a juggling act. But, if we try to juggle too many things at once, chances are we’re going to fumble and drop a few balls.
At some point, every business owner needs to decide whether they’re going to keep adding (and dropping) more balls, or whether they’re going to call in a support person so they can focus their attention where it needs to go.
If you’re tired of performing a one-person show, outsourcing is an excellent idea.
In this blog, we’ll share the top tasks you can outsource to make it easier to run your business the way you want to.
Let’s get the ball rolling!
Bookkeeping Tasks You Can Outsource Right Now
How much time do you spend on your bookkeeping every week? Do you enjoy those hours? Are there things you’d rather be doing with that time, or things that would be more valuable to grow your business?
Keeping your business finances up to date can be time-consuming and tedious, but bookkeeping tasks should not be neglected. If you’re not up to date with your bookkeeping, it’s hard to get clarity on how your business is doing, let alone make important financial decisions.
Unpaid invoices, missed tax deadlines, and overlooked errors can all affect your cash flow and be costly for your business. Instead of stressing about your accounts every week, why not consider all the bookkeeping tasks you can outsource right now to make life easier, such as:
● Billing and Invoicing
● Credit Control
● Bank Reconciliation
● GST Processing and Filing
● Monthly Reporting
● Email Support
● Liaising with IRD
Outsource Your Payroll Tasks
If you have employees, you probably spend a fair amount of time dealing with your payroll every week. Even with a small team, things can get quite complicated. You must understand your obligations around sick leave and holiday leave, as well as factor in Kiwisaver, student loan repayments, and other rules and regulations.
Remember that every hour you spend on payroll is an hour less spent on core business tasks – those jobs that generate revenue and grow your business!
However, you don’t have to handle all this yourself. Payroll management is one of the tasks you can easily outsource to a professional, including:
● Processing of weekly, fortnightly, or monthly payrolls
● Timesheet collation and checking
● Payday filing
● IRD payments – child support, student loans etc.
● Kiwisaver
● Payroll reports
Accounting Tasks To Outsource
Accounting is a key task you can outsource – and many small businesses choose to do so rather than attempt to take care of it in-house. The financial health of your business is dependent on up-to-date records, proper financial planning, and meeting your tax obligations.
An accountant can work closely with your bookkeeper to ensure everything is taken care of year-round: no more panicking around tax time or staying after hours to get all your records in order.
If you’re worried about letting someone else take care of your finances, you needn’t be. Accounting software like Xero makes it easy for you to check on your data at any time, run reports, and communicate with your bookkeeper and accountant remotely.
Want to spend more time doing the work you enjoy, focus on things that grow your business, or have a better work-life balance?
Outsource your bookkeeping and payroll tasks to Cornerstone Bookkeeping. We help add value to your business by keeping your accounts accurate, allowing you to spend more time on what you love doing!
For information on any of the above, please contact Joanna on 021 578 450 or email accounts@cornerstonebookkeeping.co.nz