Bookkeeping for IT Companies

As technology continues to change and evolve, IT companies are forced to be at the forefront of every new innovation. How, then, can those working in the information technology industry expect to also have the bandwidth to stay up-to-date with their ongoing bookkeeping requirements? If you have ever balked at the idea of outsourcing your bookkeeping for IT companies for fear that a bookkeeper wouldn’t have the relevant expertise to handle the unique requirements of an IT company, think again.

Here’s How Free My Cloud Handles Bookkeeping for IT Companies

When we work with IT companies, we take care of every aspect of bookkeeping as it applies to the unique world of information technology. By gaining secure access to your financial records and transactions, we stay on top of your bookkeeping requirements to ensure that you have access to up-to-date reports and transaction histories whenever you need them.

Have you ever needed to generate a to-the-minute report for a loan application? Ever wondered how a particular client or project is tracking profit-wise, or how a particular employee is contributing to the profitability of your company? When you outsource your bookkeeping for IT companies to Free My Cloud, you will have access to up-to-date reports and financial information with the click of a button. Of course, when it comes to tax time, your accountant will thank you for your ability to hand over comprehensive and accurate financial information for the easy preparation of your end-of-year tax reports.

The Benefits of Outsourcing Your IT Company’s Bookkeeping

When you outsource your IT companies bookkeeping to Free My Cloud, you can expect the following benefits:

Reliable, on-time bookkeeping services. With secure, online, 24-hour access to your financial information, nothing will keep us from maintaining your books.
Secure, confidential service. The privacy of our clients is our utmost concern, and we ensure that only your allocated bookkeeper has access to your financial information. And with cloud-based accounting solutions like Xero and MYOB offering state-of-the-art security and encryption, you can rest assured that your information is safe.
Peace of mind. While it’s certainly possible for IT professionals to handle their own bookkeeping, the question comes down to this: Why should you? Your expertise lies in the information technology field, not in bookkeeping. Why waste your valuable time and resources on bookkeeping when you could outsource it to someone who is as knowledgeable about bookkeeping as you are about IT?

The Most Common Mistake IT Professionals Make When Tackling Their Own Bookkeeping

Most IT professionals are highly intelligent and perfectly capable of handling their own bookkeeping. The most common mistake that IT professionals make when they do decide to keep their own books is in letting the task pile up until the last minute. When you’re busy running your IT company and have multiple clients and projects on the go, it’s understandable that bookkeeping would be the last thing on your mind. It’s the kind of task that is always there, waiting for your attention, and it can be tempting to keep putting it off until the last minute.

When this occurs, you’ll find that you have a backlog of bookkeeping tasks waiting for you at tax time, and you’ll either spend hours of your own valuable time trying to sort out the backlog, or you’ll pay exorbitant accounting fees as your accountant has to make sense of your figures when preparing your tax return. You can prevent this problem from ever occurring by keeping your books constantly up-to-date by outsourcing your bookkeeping tasks to the professionals.

Gone are the days when IT companies were forced to handle their own bookkeeping because affordable bookkeepers didn’t have the relevant expertise needed in the information technology industry. At Free My Cloud, our bookkeepers are well versed in the requirements of bookkeeping for IT companies and would be happy to handle your books while you concentrate on servicing your clients. To find out more, contact us today.