Watch this “Financial Services Cost Comparisons” video (to easily discover what an in-house bookkeeper truly costs…)
Diane and Mita continue their Ultimate Showdown discussion in part 2 of this “Financial Services Cost Comparisons” webinar.
Note: For the best view of the webinar, select “Full screen” mode (the “X” in the player bar). You can also click the gear icon to change the playback speed…
The Ultimate Showdown-Part 2 (PDF format)
Let's do the math! Diane and Mita provide an easy method so that you – as a company owner – can discover:
- Which levels of bookkeeping and accounting services you might need for your company and –
- The costs of "in-house" vs "outsourced" bookkeeping services. (You'll receive a handy demo and a free bonus calculator for your own use!)
Why this matters to you: By the end of the webinar, you will be able to easily calculate what an 'in-house' bookkeeper might cost.
Key topics covered in this recording include:
Financial Services Cost Comparisons
As a company owner, you want to make good business decisions. To do that, you need to be able to see cost comparisons for financial services as you select your service providers.
You need answers to these questions:
- How do I determine which service providers I need?
- How do I select between in-house and outsourced options?
Different Levels Of Bookkeeping And Accounting
Diane and Mita give an overview and examples of cost comparisons for different types of financial service providers (low, medium, and high).
Monthly Comparisons for 'Fully Burdened' Employee Costs
As accountants, Diane and Mita know (and share) a '10,000-foot' view by looking at annual wage comparisons.
Additionally, they also show you how to determine monthly results for 'fully burdened' employee costs, which is even more revealing. You'll see low, medium, and high-range estimates to get a real feel for costs.
Outsourced Bookkeeping Benefits...
On the outsourced side of things, providers pay their employees and incur the additional burden costs discussed during the webinar. In addition, an outsourced provider likely comes to you with:
- Industry-specific training.
- Backup resources who step in even if the main person you work with is out of the office.
- Scalability. This means you can increase or decrease your bookkeeping services more easily than when you have fixed-price in-house employees.
As an example, Mita and her company (an outsourced bookkeeping service provider) do all this and focus on having your books done on an interim or monthly basis so you can see meaningful financials.
In-House Employee Considerations...
If you need to locate a qualified internal bookkeeper, as a company owner, you absorb the costs (including hiring, interviewing, and, when necessary, replacing hiring failures).
Then, after hiring, you also incur the costs of management and oversight of this employee.
As a company owner, it's important to ask yourself where you should best spend your time:
- Is it in managing a bookkeeper?
- Or in making the right business decisions based on the information from a qualified bookkeeper?
Bookkeeper Costs Calculator – Our Gift to You
Diane demonstrates how to use her free gift to you – a Bookkeeper Cost Calculator. You simply fill in the calculator with some of the costs described in the webinar to instantly see monthly and annual costs for an "internal hire."
You can also use the calculator to see costs even if your in-house bookkeeper works part-time doing bookkeeping.
As Diane and Mita demonstrate how to use the calculator, they discuss some of the related costs (too many to mention here) that accompany full-time or part-time in-house employees.
Our goal with the calculator is for you to see the cost of an in-house bookkeeper.
HERE ARE YOUR NEXT STEPS:
- Download your free Bookkeeper Cost Calculator to figure out how much bookkeeping services might cost for your company.
- Click on this link to set a time to chat with Mita. Mention this Ultimate Showdown webinar, and for a limited time, you can get a three-month 30% discount on the Payless Taxes Accounting + Tax prep service. (Note that offers or promotions mentioned in the video are available for a limited time only. Please contact Payless Taxes or Info Plus for more information.)
- For other employees, discover how much each of them costs per production hour (the Info Plus "labor burden calculator").
"Fully-Burdened Labor Cost"
I.e., what it costs an employer for an employee to produce work for a specific period of time...
(...usually shown as a "per-hour" rate.)
Click the image above to learn more about our Excel-based tool that will help you learn everything you need to know about your employee costs and billing rates...
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