Outsourced Bookkeeping for Small Business
By Cole Kline, Founder, Edge Operations Managers
Outsourced bookkeeping means someone outside your company keeps your books current. For a small business, that usually covers the routine monthly work: categorizing transactions and reconciling bank and credit card accounts.
What you can outsource
- Categorizing every transaction to the right account
- Reconciling bank and credit card accounts each month
- Flagging transactions that need your input
What remains with you
- Approving spending and paying bills
- Answering the bookkeeper's questions about unclear transactions
- Giving access to your accounting software and bank feeds
What remains with your CPA
Tax returns, tax planning and advice, and any accounting judgment calls. A bookkeeper keeps records; a CPA interprets them.
Signs it may fit
- Your books are often behind when your CPA asks for them
- You or an office manager do the books after hours
- You are not sure every account matches the bank
Edge bookkeeping is reconciliation and categorization only. It is not accounting, tax preparation, tax advice or CPA work.
Related: Virtual bookkeeping services