Under the right circumstances, outsourcing saves time and money. This doesn’t mean it’s always the best option. Ann Irons, CPA shares tips to help real estate lawyers choose whether to outsource important business functions, such as outsourced accounting in Bellingham, MA.

Commonly Outsourced Business Functions

Until recently, accounting and bookkeeping were the only functions that business owners and practice managers considered appropriate for outsourcing. Today, there are far more opportunities to outsource, including:

• Web design and social media
• Payroll
• IT and tech support
• Marketing
• Risk management
• Reception and secretarial

Freeing up cash flow is a priority for many small business owners, especially when business isn’t quite booming. On one hand, it takes creativity and resourcefulness to do more with less. Then again, it’s risky to focus on the dollar amount saved today instead of considering the long-term consequences. Ann Irons, a CPA in Bellingham, MA, says that several of her clients have tried a similar approach by trying to tackle accounting and bookkeeping services without professional help, hoping to save money. Before you decide to go it alone, ask yourself whether any of these scenarios sound familiar.

Lessons Learned the Hard Way

Over the past three months, Martin’s landscaping company has been so busy that they’ve actually had to turn clients away. He applies for a loan to fund an expansion, which will require investments in equipment, marketing, and workforce. Demand is high and the venture is sure to be profitable, so Martin is dumbfounded when several lenders reject his application.

With 2013 sales in excess of $1 billion, it’s safe to say that business is booming on Etsy. Sellers operate their own online stores on the site, where they offer handmade, vintage, and crafty goods and supplies.The growing popularity of DIY and visual inspiration sites like Pinterest have created incredible opportunities for crafty and creative types to profit from their handiwork. Once you've established a favorable reputation for yourself and your goods, generating sales comes easily. CPA Ann Irons, who offers bookkeeping services in Bellingham, MA, advises you to take a proactive approach to managing your store’s finances.

Here's a key difference between entrepreneurs and everyone else in the world: When matters become so complex that a single individual can no longer manage business affairs on their own, the Average Joe goes into panic mode. Business owners, on the other hand, take a dramatically different viewpoint. This isn't a problem--this is growth! It's exciting, an indication that you're doing something right. Now, this is where things get tricky. Growth is great, but it's precious. You can't bring in just anybody to cultivate and manage this growth, especially where your finances are concerned. Ann Irons, a CPA in Bellingham, MA, explains your options.

When you put your heart and soul into your small business, there’s always the temptation to take on everything yourself, from daily minutiae to strategic planning. Sometimes, though, the “little details” turn into a major distraction. You don’t want just anyone keeping your books, says Ann Irons, CPA, who offers bookkeeping services in Bellingham, MA. Before you cede control of your company's accounting responsibilities, ask yourself whether a candidate meets these criteria:

Does he understand accounting and bookkeeping terms? Can anyone learn the basics of accounting? Absolutely. Do you have time to teach him? Definitely not. Look for someone who can demonstrate a proven ability to interpret and apply these principles.