Outsourcing your Accounting & Bookkeeping

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A presentation I have given explaining the benefits of outsourcing bookkeeping work for the small business owner and aspiring entrepreneur

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  • Nearly 30% of all large businesses in Europe and the US, now favour outsourcing bookkeeperfunctions. Since 1990 when outsourcing movement first emerged, the growth in the US (according to Harvard Business Review) has risen to an estimated US$318 billion.
    Here are two reasons to outsource:
    1. Cost saving. Expect to see a small cost saving outsourcing, but don’t make this the primary goal. The saving is likely to be 10% to 20% of the base wage of an in-house operator.
    2. Manage less. Most business owners can only effectively manage a handful of staff. Hire the most number of people you can manage to carry out revenue-making tasks, and outsource every other function including bookkeeping.

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Outsourcing your Accounting & Bookkeeping

  1. 1. Outsourcing your Accounting & Bookkeeping<br />Darren M. Dowdell, EA, MBA<br />Advanced Certified Quickbooks ProAdvisor<br />
  2. 2. Why outsource?<br />Free up your valuable time<br />More billable time<br />Marketing yourself<br />Meeting clients<br />Doing what you enjoy, what you’re best at - why you went into business in the first place<br />
  3. 3. Why outsource?<br />Peace of Mind<br />Bills paid<br />Taxes filed<br />Accounts balanced<br />Stress reduced<br />
  4. 4. Why outsource?<br />Save money<br />Independent Contractor, not employee<br />No Payroll Taxes or Benefits<br />No CPA Rates<br />Expertise and technology<br />As little as you need<br />No office space required<br />No long term commitments<br />
  5. 5. Why outsource?<br />You don’t know what you don’t know<br />What company form is best?<br />What insurance do you need?<br />Independent Contractor vs. Employee?<br />I know how to use Quickbooks, I think!<br />
  6. 6. Still want to do it yourself?<br />Quickbooks Consulting & Training<br />Live seminars offered<br />SBDC & BERC Instructor<br />One to one or small group on location<br />Online training via Remote Access<br />…Bookkeeping & Best Practices<br />
  7. 7. Why Me?<br />Qualifications<br />Degreed Accountant & MBA<br />25 years experience<br />25 current recurring clients, 100+ total<br />Advanced Certified QB ProAdvisor*<br />EA – IRS Enrolled Agent*<br />
  8. 8. Advanced ProAdvisor?<br />What exactly is a Quickbooks ProAdvisor?<br />Pay an annual fee  ProAdvisor 54,792*<br />Certified through testing  16,253*<br />Advanced Certified 1,127* (3 in WNY)<br />All 4 certifications  389*<br />WNY’s first<br />Found from QB software – Referral Website<br />*as of 6/12/09<br />
  9. 9. ProAdvisor Breakdown by Type<br />
  10. 10. Enrolled Agent?<br />What does the EA after your name mean?<br />An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to “represent taxpayers before all administrative levels of the Internal Revenue Service for audits, collections, and appeals.”<br />3 Parts, 12 hours of exams from the IRS<br />CPA’s, Tax attorneys and EA’s are enrolled tax preparers, all others unenrolled preparers.<br />
  11. 11. How does it work?<br />Client Relationship<br />Free Initial Consultation, No Commitment<br />Online Access to Bank, Cr Cards, Payroll<br />Set up free Remote Access to Client Computer (LogMeIn)<br />Free file transfer service (YouSendIt)<br />Bill hourly or Flat Fee (more common)<br />Anytime phone consultation included<br />
  12. 12. Givers Gain<br />Additional networking opportunities, join me on…<br />LinkedIn<br />facebook<br />Twitter (@theleftbrain)<br />Visit QuickBooks Answer Machine Blog <br />quickanswer.wordpress.com<br />

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