Introduction: Why More Businesses Are Turning to Outsourced Bookkeeping
Running a business means wearing many hats—but bookkeeping doesn’t have to be one of them. Today, more business owners are outsourcing their bookkeeping services to save time, reduce costs, and gain expert support. But what exactly are outsourced bookkeeping services, and how do they work?
In this guide, we’ll break down how outsourced bookkeeping works, why it’s effective, and what to look for when hiring a provider—so you can focus on growing your business with confidence.
What Is Outsourced Bookkeeping?
Outsourced bookkeeping is when a business hires a third-party service to manage its financial records instead of doing it in-house. These services are typically provided by remote teams or specialized firms that handle everything from data entry to financial reporting.
Analogy: Think of outsourced bookkeeping as hiring a personal chef—you get professional results without having to cook yourself.
How Do Outsourced Bookkeeping Services Work?
1. Initial Onboarding and Setup
- Bookkeeper reviews current financial systems.
- Setup of cloud-based tools (e.g., QuickBooks Online, Xero).
- Secure connections to bank accounts, credit cards, and payment processors.
2. Ongoing Bookkeeping Tasks
- Recording income and expenses.
- Bank and credit card reconciliations.
- Accounts payable and receivable management.
- Payroll management (if needed).
- Monthly financial reports (Profit & Loss, Balance Sheet).
- Sales tax tracking and filings.
3. Communication and Reporting
- Regular updates and monthly reports.
- Scheduled calls for review and planning.
- Support for questions and guidance.
Pro Tip: Most outsourced bookkeepers offer personalized dashboards so you can access real-time financial data anytime.
Why Outsourced Bookkeeping Services Are Effective
1. Cost-Effective
- Cheaper than hiring a full-time bookkeeper.
- No employee benefits or training costs.
2. Expertise On-Demand
- Access to specialized knowledge without high salaries.
- Stay compliant with tax and financial regulations.
3. Time Savings
- Spend more time on growing your business, less on admin.
4. Accurate, Timely Reports
- Up-to-date financial data to guide decisions.
- Avoid errors that can lead to costly mistakes.
5. Scalable as You Grow
- Services adjust as your business expands.
Example: A growing marketing agency outsourced bookkeeping and saved $30,000/year versus hiring in-house, while also improving report accuracy.
Who Should Consider Outsourced Bookkeeping?
✅ Great for:
- Small businesses with limited admin staff.
- Startups wanting to stay lean.
- Growing businesses scaling quickly.\
- Freelancers and solopreneurs.
❌ Not ideal for:
- Companies requiring an on-site bookkeeper daily.
- Businesses uncomfortable with cloud-based solutions.
Tip: If your transactions are growing beyond what you can manage on weekends, it’s time to outsource.
What Services Are Included in Outsourced Bookkeeping?
Core Services:
- Transaction recording.
- Bank and credit card reconciliation.
- Accounts receivable/payable tracking.
- Monthly financial statements.
Optional Add-Ons:
- Payroll processing.
- Sales tax filings (GST/HST/PST).
- Budgeting and forecasting.
- Financial analysis and KPI reports.
Note: Packages can be customized based on your needs and growth stage.
Costs of Outsourced Bookkeeping Services
| Service Level | Typical Monthly Cost |
|---|---|
| Basic Bookkeeping | $200 - $500 |
| Full-Service Bookkeeping + Payroll | $500 - $1,000 |
| CFO-Level Insights & Reports | $1,000+ |
Pricing depends on transaction volume, complexity, and services included.
Common Misconceptions About Outsourced Bookkeeping
Myth 1: “It’s Less Secure Than In-House”
Reality: Reputable services use encrypted software and secure data transfers, often more secure than in-house methods.
Myth 2: “I’ll Lose Control of My Finances”
Reality: You maintain full access and oversight; bookkeepers handle the busy work.
Myth 3: “Only Large Companies Can Afford This”
Reality: Outsourced bookkeeping is often cheaper than hiring full-time and perfect for small businesses.
Tip: Always ask about security protocols before hiring.
How to Choose the Right Outsourced Bookkeeping Service
1. Define Your Needs
Basic tracking, payroll, tax filing?
2. Check Industry Experience
Look for experience in your field (e.g., trades, e-commerce, agencies).
3. Review Technology and Tools
Ensure they use modern, cloud-based platforms.
4. Evaluate Communication Practices
Regular updates and fast response times.
5. Assess Pricing and Value
What’s included? Are there hidden fees?
Pro Tip: A free consultation can help determine if they’re a good fit.
Steps to Get Started with Outsourced Bookkeeping
Step 1: Book a Consultation
Discuss your business, needs, and goals.
Step 2: Set Up Tools and Access
Connect bank accounts and platforms.
Step 3: Review and Plan
Get a game plan for monthly bookkeeping.
Step 4: Ongoing Support and Review
Regular check-ins and adjustments as needed.
Final Thoughts: Focus on Growth, Not Bookkeeping
Outsourced bookkeeping services give you expert support without high costs, helping you stay organized, compliant, and ready to grow. Stop wasting time on spreadsheets—let pros handle the numbers while you focus on what you do best.
Ready to Take Bookkeeping Off Your Plate?
👉 Book a free consultation with Apex Bookkeeping today and learn how outsourcing can work for your business.
FAQs
Q: Is outsourced bookkeeping secure?
A: Yes, reputable services use encrypted, bank-level security.
Q: How is information shared securely?
A: Through secure portals, encrypted emails, and cloud-based platforms.
Q: Will I still have access to my financial data?
A: Absolutely! You maintain full access to all reports and records.
Q: Can outsourced bookkeepers handle payroll?
A: Many offer payroll as part of their services—ask during consultations.
Q: How do I communicate with my bookkeeper?
A: Regular email, phone calls, and scheduled meetings—many offer flexible options.