When it comes to accounting, the typical small business narrative is this: The business owner has outgrown the ability for them to handle the books themselves and needs help. They launch their browser, go to a website like Craigslist.org and post the job. The type of responses they see will be similar to the above (fictitious) applicant resume excerpt.
Business growth is great for business, but poses challenges. It’s great to see when business owners come to the realization that they need help. The problem lies with the default solution for most business owners when they try to hire an accountant.
Amazing, part-time accountants aren’t easy to find. You need to find someone who can work the small number of hours you need, be reliable, be a quick learner, and have the right level of education.
As your business continues to grow, the hours may need to increase. The complexity of the work may increase. These are all changes in your needs that may no longer fit the part-time accountant’s abilities.
On top of the business’s changing needs, it’s quite common for people looking for part-time work to have restrictive schedules that may impact their ability to step up when your business needs it or suddenly need full-time work and take a job giving you little or no notice. Is two-weeks’ notice ever enough time to find a solid replacement and get them up to speed?
Challenges our customers have faced using contract bookkeepers:
- No Show – this is the most common pain point. The contractor just stopped showing up and never even called the owner to say they’re not coming in.
- Can’t Keep Up – the limited number of hours make it challenging to stay caught up on the daily tasks and providing timely monthly financials. The business owner is flying blind as they have not seen a set of financials for many months.
- Outgrowing – the business owner isn’t really getting any insight out of their numbers. They know accountants should be able to provide guidance and their bookkeeper isn’t able to. In order to continue growing, a higher level of capability is needed to start budgeting, ensure the financials are full-accrual, and measure the right performance metrics.
There are obviously exceptions to the norm. The question is: Do you want to have to spend the time and energy continually replacing part-time help? Will you be able to identify a qualified accountant that can help you grow?
The Basis 365 Difference
Basis 365 was created to offer a qualified, reliable and scalable solution to growing businesses so they can successfully navigate from $1 million - $20 million in revenue.
Many of our customers were thrilled to discover outsourced accounting even existed. They have already been burned by a part-time bookkeeper leaving them high and dry or unable to help them grow and didn’t want to have to go through that again.
Here are some of the top reasons why our customers choose to us:
Our teams come with a formal education in accounting including previous work experience in corporate or public accounting. We instill a focus of constant improvement and consistency in our delivery with all employees. Our teams work with many customers exposing them to more experience than you’d get at one company alone. With access to our company’s entire pool of knowledge, we are able to provide a much different experience than hiring a single, part-time worker.
Although many of our customers are small businesses, their accounting can get complex quite fast. We pride ourselves on our ability to handle all sorts of accrual accounting scenarios that your typical bookkeeper would not be able to identify, let alone develop effective procedures around.
This is what we do. We’ve established processes that work great for small but rapidly growing businesses and utilize the most streamlined, cloud-based solutions available. We are working away, day-by-day so your accounting information is always as up-to-date as possible. We pride ourselves on a quick response time and consistency in delivering your monthly financial statements. If someone is out on vacation, the other team member can step in to assist.
Working with Basis 365 provides your business with an accounting team. That’s a powerful advantage over bringing on a single part-timer. It’s easy for us to ramp a team up or down depending on customer needs, including adding on valued-added services such as budgeting or performance reporting.