Tips to Get Started with Freelancing: Don't Be Reluctant in Choosing Outsourcing
by Jatinder Kumar |October 26, 2017
Even though a lot of organizations are going with the flow and saving a huge chunk of money by hiring freelancers to outsource their accounting services, some organizations still work the traditional way. They are reluctant in trying to outsource their accounting needs because they think it is not worth it.
Well think again.
Because, the time that you waste in keeping your books up-to-date is under-utilised. While you are busy keeping up with your ledger and daily reports, other firms are concentrating heavily of expanding their customer base and getting more business with lesser investment, and in turn, making more savings.
Here are a few tips to get started:
- All new business owners should make it a priority to open a new bank account for their business, most preferably an account with online banking access, to keep business funds separate from personal funds.
- Because you do not want to be process personal transactions with the bookkeeping expenses of your business, it's a strict "NO-NO".
- And what’s even worse is you using that account to pay your freelancer, because these transactions can be international as well, and you need to track your expenses in a neat manner. You do not want those transactions to be mixed with your personal ones.
- Although, you can do a bulk transfer of money to your personal account once every month for your personal expenditure, so that you can easily differentiate between the personal as well as business expenditure.
- Opening a savings account to make savings to get rebate in tax at the end of every financial year is also advised.
- Bank accounts with online accessibility is definitely the need of the hour. It is the quickest and the most easiest way to make payments and keep up with the bank reconciliations in your bookkeeping software, than to wait for the bank to post a statement, or write cheques to make payments.
Hence, you don't need to feel reluctant about hiring a freelance, just follow these steps and start saving. You can always contact us for all types of accounting outsourcing services. We will provide you a FREE DEMO as well.
Sounds like a great deal, doesn’t it?
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