Independent Contractor Bookkeepers vs. Employee?

June 6, 2018

It is a common question on whether a company should hire a full-time bookkeeper, or a hire a independent contractor. Like most things, there are pros and cons to each alternative, and after reading this article, you should have a pretty good idea of what will work best for your company. 

 

There are a few pros to having a full-time bookkeeper on staff; for example, many employees tend to be more dedicated to the company, as in they are not working elsewhere, or with other clients.  Proximity is another pro; having an employee at your whim may be what you are looking for, or the need for them to be able to complete the tasks within minutes versus having to email someone and wait for their response.  Maybe you need someone to just do the data entry for your company, this wouldn't require a more experienced bookkeeper and therefore your options for candidates could be limitless; just keep in mind, this may cause your CPA to do more work on their end at the end of the year.

 

Just as there are pros, there are cons as well; for example, if you run a business that has its seasonal ups and downs, then your full-time bookkeeper may find themselves without much to do and with you still paying for their time to be there, versus paying someone only for their time doing actual work.  If you are a small business, your first instinct is to find someone at the lowest rate possible, however, the term "you get what you pay for" has never been truer in this particular field.  Most bookkeepers who accept such low rates are typically inexperienced and do not have the proper training, and in the end may cost you more as your CPA, or an outside accounting company, may need to clean up your books to get them ready for taxes.  It is important to note if you have little knowledge of accounting yourself, it could be harder to recognize the perfect candidate for your company.

 

If you are still undecided on which route you would like to go, call me and I can help you figure out if hiring a full time accountant, or if out-sourcing is the way to go.  My goal for any company is to ensure the decisions they make are the best ones for their company.  

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