It has been seen that the leading private and public corporations depend totally upon external expertise. It is due to the following reasons: speed, cost management, innovation, and increased flexibility. But the challenging phase for any organization is the “selection of external talent”. The term external talent is referred to as “Freelancer”. To hire the right freelancer that suits your organization’s requirements, is the most challenging and critical task for any organization.
No matter if a business owner owns a completely settled business that is growing day by day or you are just a starter with a small business, there is a need for a bookkeeper. It is difficult to decide whether to assign the bookkeeping task to a bookkeeping company or a freelance bookkeeper. The choice largely depends upon the nature of the task and the budget of the business. Bookkeepers need to maintain a lot of necessary financial tasks including paying and making records of taxes, manage a payroll system, receive payments from clients or other companies, following the budget etc. So hiring a bookkeeper for a small business or a large business is supposedly compulsory.
Every kind of business whether small or large depends upon the accounting department. If the bookkeeper makes a mistake, it affects the revenue of the company. It is extremely important for bookkeepers to exactly know their job. Bookkeepers save companies from going through a major financial crisis.
Small business does not have a well-established department of accounts, hence they have to outsource the task. Usually small and medium-sized companies juggle between the choice of hiring a bookkeeping company or a freelance bookkeeper. There are certain factors that can influence this choice.
There are certain benefits of outsourcing the bookkeeping work. Bookkeeping is a tedious and time-consuming task when such work is outsourced; it saves the time of the management to focus on other important matter of the company. It is difficult to decide whether to assign the bookkeeping task to a bookkeeping company or a freelance bookkeeper. The choice largely depends upon the nature of the task and the budget of the business.
Freelance bookkeepers can mostly work in any environment and can easily adjust because they don’t have strict policies like a firm does. Freelance bookkeepers will ask for the market cost but it could be negotiated. A freelancer working from home and a freelancer giving a few hours in your office are two different things so charges are variable.
Cost
When it comes to the cost of the task, a freelance bookkeeper costs very less as compared to a bookkeeping firm or a company. Freelancers may work from home or they may be available to come to the office for getting the work done. If the bookkeeping task is simple then hiring a freelance bookkeeper would be a better choice as it is a more cost friendly option. Freelance bookkeepers usually work on an hourly basis or they may have a fixed rate.
Work Environment
Freelancer bookkeepers mostly work from their own place however they may also be available to come at the office to complete the task. The ones that come in the office relatively are more productive because if they face any confusion they can resolve it promptly. However, they may ask for additional payment.
Technical Skills:
The bookkeeping world is also hugely influenced by modern and advanced technology. Many apps and software are exclusively made for bookkeeping tasks and assignments. If freelancer bookkeepers are hired for a task the company has to refine the search for such a freelancer who knows how to use a particular software. While, if a bookkeeping company is assigned a bookkeeping task then it has plenty of professionals who know various software and have the expertise to use them.
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