Which is the best choice? Employ a bookkeeper or outsource it to an accounting firm? Read more about it here.
As an entrepreneur, you reach a point where bookkeeping is no longer something you do ‘on the side’. This is when engaging a professional bookkeeper is often the best choice. But which do you choose? Employing a bookkeeper or outsourcing your administration to an accounting firm? Below, we list the advantages and disadvantages of both options, so you can make the choice that best suits your business.
For many entrepreneurs, especially small and medium-sized businesses, an administration office is the most flexible and cost-efficient choice. You engage an administration office based on your needs and pay only for the services you use. This is often cheaper than hiring a bookkeeper. As a result, you have no costs such as holiday pay, pension or other staff expenses.
An administration office often employs several professionals with specialisms. Whereas an in-house bookkeeper may not always be aware of all the tax or legal details, an administration office provides access to specialists in areas such as VAT regulations, payroll administration and taxation. In addition, the professionals keep developing and up to date with the latest laws and regulations through continuous training.
With an in-house bookkeeper, you have someone in the office who is involved in your business operations on a daily basis. You can switch quickly, and the bookkeeper has a good overview of your specific business processes. This ensures shorter lines of communication and immediate availability, unlike an administration office.
The choice between an accounting firm and an in-house bookkeeper is often linked to the company's growth plans. An accounting firm can move flexibly with you without the need to hire new staff. For larger companies with complex financial processes, a combination can be ideal: an in-house bookkeeper for day-to-day operations and an accounting firm for specialist advice.
The choice between an administration office and an in-house bookkeeper depends on the size of your business, your budget and the need for specialist knowledge. For small to medium-sized companies, an administration office is often the most practical choice thanks to its flexibility, lower costs and broad expertise. Larger companies may benefit from a combination of both options or setting up an in-house administration department.
Whatever choice you make, make sure you work with a partner who thinks with you and supports you in your business growth. Wondering how we can help you as an administration office? Then please contact us. We will be happy to help.
Do you want to start today?
Which is the best choice? Employ a bookkeeper or outsource it to an accounting firm? Read more about it here.
What is the role of a shareholders' agreement and why should you include it when setting up a bv? Read more about it here.
Read here what you need to consider when setting up a bv with a foreign shareholder.
Belastingadviseur Eindhoven is onderdeel van Adviesgroep Eindhoven. De one-stop-shop voor ondernemers, particulieren en expats.
