It is simple. The number one reason you should outsource your bookkeeping is due to fraud. The newswires are full of stories detailing the significant losses to businesses because of fraudulent bookkeeping activities. In today’s local newspaper’s online feed, a story identified a local business with an internal employee stealing $147K from the professional practice.
In our Falling in Love with Finance Series, we’ve discussed tools and strategies for how owners and managers of SMB’s can become more comfortable with the financial operations of their businesses. There are a number of reasons to understand and actively manage the finances of your business, not the least of which is to prevent