Technology doesn’t only allow you to see and like photos of strangers, or watch YouTube videos. You can also outsource cheaper services from the other side of the planet. You might be tempted to do so, as it’s cheaper. But, let’s see why it’s better to choose your local bookkeeping service. What are the benefits of having local bookkeepers, especially as a small business? This article will present to you some of the best reasons why you would want to hire locally.
Local Bookkeepers and the Regional Laws
The biggest risk of outsourcing services from outside your state, is dealing with bookkeepers who don’t understand the regional laws. You should be aware that every region has its own regulations. The compliance deadlines, filing requirements and the tax law might differ. And while the differences might not be very drastic, it’s still essential to file every legal document accordingly. Any missed detail can lead to penalties. This is not good for any business, but especially for small businesses. You cannot build a successful business by showing the local authorities that you cannot deliver correct paperwork.
Working with local bookkeepers helps you get rid of the possibility of this kind of mistake. They probably already know about your business, and know what businesses you are competing against. The kind of insight that they have will not only lead to having accurate books, but also to receiving guidance tailored to your local laws and industry. If you didn’t know, bookkeepers actually can give some pretty good financial advice. While it’s not necessarily their job, they know a lot of things about the financial world. And even if they don’t, the data that they gather will help your accountant come up with the right strategy. Don’t forget that there is a difference between a bookkeeper and an accountant.
A Personalized Local Bookkeeping Service
A bookkeeper will ensure that your books are organized and accurate, but will also try to understand the unique goals that you have for your business. With a local bookkeeping service you are sure that the people you are working for actually want you to be successful. If you are hiring someone from another state, or even another continent, they don’t care if you fail or succeed. But when paying for a local bookkeeping service, you will be more than just another client. You will be more like a friend who needs some help.
Now, you might think that we are exaggerating, because why would they care? Well, first of all, there is the sense of community. This article on Medium talks about the importance of helping people in your community. Studies show that people tend to care more about the people who are part of their community. And, secondly, your business being successful helps the local economy, which then helps them too. That’s exactly why the relationship you can build with bookkeepers in your area is more valuable.
The Local Economy
It’s essential for the local economy that your money is used locally. This is why it’s encouraged to buy from local bookstores, rather than a bookstore chain. Or to buy eggs from the local farm, rather than a store. The same philosophy applies when talking about choosing a local bookkeeping service. When choosing the local bookkeeping service, you create a win-win-win situation.
- A win for you, because you receive a high-quality personalized service
- A win for the bookkeeper, because they have a new client
- A win for the community, because the money remains in the area
Many people don’t understand why supporting the local economy is so important. The first and main reason is that money spent locally leads to greater community wealth. Then, it creates jobs for residents, and increases the amount of taxes coming in, which will go to funding things that everyone will love (a park, improving the schools, etc.). Most times, the services or products that you can get from local people are way better than those from big providers. Moreover, the customer support and communication will probably also be better.
Clear Communication and Accessibility
If you are thinking of outsourcing services from overseas, remember the time zone difference and the language barrier. Elements like the ones just mentioned can make communication slow and inefficient. You might need a simple and quick answer, but if your bookkeeper is in a different time zone, it might take many hours until you receive that answer. On the other hand, local professionals will be available to you during your business hours. You just pick up your phone, call them, write an email, or even go and directly meet with your bookkeeper! It is a way more efficient way of conducting business.
The language barrier can lead directly to big mistakes. Legal terms can be complicated even when English is your maternal language, now imagine how complicated it must be when it’s not. You must consider these kinds of things before outsourcing overseas services. More often than not, it’s only tempting because it’s cheaper than your local provider. But is it actually worth it? Make a pros and cons list, and you will see that the pro list for hiring locally will be way longer than the con part of the list. While cheap is good, especially when you are just starting a business, high-quality is better.
Conclusion
There are a lot of benefits to choosing a local bookkeeping service instead of outsourcing overseas ones. It’s the best option for both you and your community. You are receiving high-quality services with someone available to you during your work hours. But you are also giving back to your community. Money that stays locally, transforms locally! Help the local economy while also receiving personalized services. The barriers that are going to be between you and a professional overseas will automatically reduce the accuracy of your books. Do not risk the financial health of your business with cheaper services. Choose quality, choose local.
