Why Business Owners Should Outsource Bookkeeping and Why Banks Should Care

Most business owners don’t start a business to try and become a full time accountant or bookkeeper. This is why for centuries small business owners have been hiring traditional accountants to do the job for them. Outsourcing to traditional accountants does just that—it takes your manual tasks and delegates that task to someone else to complete for you. This can save you time, but unfortunately it’s not very cost effective. Traditional accounts can charge up to $5,000 annually.

Believe us when we talk about business owners’ needs, we know business owners. In fact, our CEO Zach Olson started out as the humble owner of a skate shop. His grip-tape covered dreams were crushed however when he saw how little he was getting to service customers and how much time he was spending crunching numbers, categorizing transactions, and filling out tax forms.

Innovation

Enter Bookly. Bookly is not your traditional accounting firm. We have created a unique blend of technology and human touch to bring an incredible online accounting experience. Once you sync up your business accounts to our cloud-based software, a team of accountants will get to work categorizing your transactions for you. (Yes, we do the work for you!)

Bookly spawned from the frustrations of small business owners just like you. It seems like most DIY accounting software was developed specifically for accountants and tax professionals, not the small business owner. This can cause many business ownersgreat headache by forcing them to commit an endless amount of time to learning accounting methods and the nuances of complicated software. Our online bookkeeping service is uniquely designed with the small business owner in mind.
Why Business Owners Should Outsource

When you sign up with Bookly, you can say goodbye to hourly fees and long-term contracts. Instead we offer our service on a simple monthly subscription plan (starting at $99/mo.) Each month you’ll receive clean financial statements. Best of all? We’re mobile friendly and love to answer questions. If at any time during the process you have questions you can call, text or email us and we’ll be sure to get back to you with answers. Even if it’s just a general accounting question like “What’s the difference between an LLC and a Sole Proprietorship?”

Our bookkeepers create rules and standards to ensure that they organize things according to your preferences. To protect your information, we get read-only access to your transactions so no one can make unauthorized changes to your accounts. All of our bookkeepers are in-house and we are 100% based in the US!

Why Banks Should Care

When business owners look for financing, banks need to know exactly how businessowners are managing their money. Having up to date monthly financials is mutually beneficial for banks and small business owners. The business owner can more easily get approved for financing, and the bank will have an easier time in the underwriting process as well as more accurate and up to date information since we provide a real-time solution. Furthermore, having a team of accountants doing the work versus a potentially untrained business owner, gives the bank more assurance that financial statements are accurate.

 

Austin Miller is Head of Digital Marketing at Bookly and writes about all things pop culture at Pop Ramen NewsWhen Austin’s not figuring out how to make the business world a better place with Bookly, he’s busy chasing a PhD in Anthony Bourdainology. 

Written by Austin Miller

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