Not only can your personal life get busy this time of year, but running a business can also become more hectic. Many people struggle more than they need to, simply because they do not know how outsourcing accounts payable and receivable saves you time & moneyduring the holidays. Perhaps you have never took time to think about the benefits, which is why we would like to discuss them here.
#1. Help with Seasonal Payroll
You may need to hire quite a few new workers to get you through the Christmas rush. If so, you will probably notice that keeping up with payroll is a bit more time-consuming than it used to be. In addition to cutting checks, you may need to contend with paying out bonuses or cashing out unused leave time. The amount of overtime you are paying could quickly get out of hand if you are exceptionally busy or have multiple employees who are taking time off.
When you partner with us, you’ll have an extra set of eyes on these things, and can relax knowing that your workers are being paidcorrectly and on time.
#2. Preparing Timely Reports
Not only is December a very busy period for some, but it is also when business owners must begin preparing several reports. Depending upon the nature of your business, monthly, quarterly, semi-annual, and annual reports could all come due at the end of the month. If you don’t meet some important deadlines, taking any time off to spend with family and friends could be out of the question.
We know you want to enjoy yourself as much as anyone, which is why we are more than eager to assist you with running reports.
#3. Getting Ready for Tax Season
Your accounting woes are not over once the clock strikes midnight on December 31. A brand new tax season is just around the corner, meaning that right now is the time to begin preparing for it. That’s nearly impossible to do when you are currently swamped, but you already know what the risk of waiting is.
Rather than being stressed out about it, allow us to assist you so that when tax time does come, you know you’ll be ready.
#4. Monitoring Charitable Giving
The Christmas season is also when non-profits everywhere rely on the generosity of businesses like yours to help them reach their year-end goals. If you get multiple requests, it can be difficult to remember who you have given to in the past and who you have turned down.
Many business owners actually overextend themselves financially during this time because they are afraid to say no. Others miss out on an important opportunity for year-end giving because they are afraid they cannot afford it. In doing so, they miss out on some valuable tax deductions as well.
#5. Keeping up with Expenses
Your expenses may be higher than normal during this time of year. For example, colder temperatures and shorter days may mean your energy bills spike. Unless you are carefully tracking expenses, you may think that the amount you are spending is just normal, when it is actually through the roof.
You are less likely to be caught by surprise if you have someone from our firm monitoring your overhead costs for you, and therefore will not be shocked by out-of-control expenses.
There are always benefits to outsourcing your accounting functions, and that is especially true during the period between Thanksgiving and Christmas. When preparing for the holiday rush, don’t forget to include us in your plans. We are always eager to help business owners like yourself, and invite you to contact us today.