General

When you outsource anything, whether it be human resources or bookkeeping, it will help you grow because your organization is now being looked at more than just your internal folks. So you’ve got new sets of eyes looking at it. You’ve got those folks that are your, your outsourcing with, not that those outsourced individuals...

Well, to calculate what the actual true cost of an employee, it depends upon the organization. So I can’t give a general, it’s 30%. When it comes to looking at your employees and what they’re actually, it’s not their salary. You don’t look and say, well, I’m going to pay them $50,000 a year. That’s...

I love accountants. They have tasks to do and they’re good at what they do, but they will charge a lot more than an outsourced bookkeeper to do that basic review. And so that bookkeeper is that second set of eyes for you so that when your accountant gets the work, they’re not going to...

Oh, there’s so much bookkeeping tasks that can be outsourced. And it doesn’t have to be all or none. For example, I have a client, we just did their accounts receivable. We helped invoice because they just couldn’t get around to invoicing. And we collect the money and record the money and send statements out...

Outsourcing bookkeeping improves your efficiency because it goes back to the fact that you’re not having an employee. That employee may come to work one day being, having had an argument with a family member, or be concerned about the health of somebody, and they’re not 100%. That can slow down the productivity of the...

Outsourcing bookkeeping as well, too, when you think about employees. At one point I saw the statistic that when somebody works 40 hours a week, you’re basically getting about 60 percent of that time doing actual work. When you outsource that work, that person is only billing you for the work they’re doing. So you’re...

Well, one of the great things about outsourced bookkeeping is you’re not going to have somebody on your payroll that you have to pay, okay? Yes, you may be paying slightly higher hourly rate to that outsourced bookkeeper, but in essence, you’re not going to have to pay for benefits, you’re not going to have...

One of the things about tipped workers, I had a case where an employee was a tipped worker and didn’t report all their tips. They’re supposed to, but in practice, typically they don’t. That person was then injured and was on worker’s comp, and worker’s comp will pay 60 percent of your pay. What was...

Wages for tipped workers usually are directly concurrent with the minimum wage adjustment. Their requirement is not, it’s not, you’re not required to pay minimum wage to tipped workers. Their reported tips though, however, need to at least bring them up to minimum wage for the particular pay period they’re getting paid.