The problem with a sole in-house, part-time, Accountant / Bookkeeper

As a small business looking at expansion and growth, bringing in a part time Accountant may seem like the best way of managing the ongoing bookkeeping and accounting needs of a growing business. After all, this ceases the need to pay a fulltime wage, and removes the necessity of an expensive external service provided by a third party accounting organisation – and whatever saves you money is a positive, right?

But what happens when the role that you hired so selectively for, becomes more about keeping on top of data entry than real accounting work – and how do you contain the accounting needs of a growing business within a sole part-time role?

The problem with one in-house, part-time accountant

The main problem with bringing in just one individual to manage your accounts from inhouse on a part-time basis is not exclusive to accounting – in fact, we see the same mistakes being made within marketing teams and social media teams as well.

This issue is that one individual cannot hope to cover all the touchpoints of a growing small business across any of these areas, particularly with technology developing and demand for instant gratification multiplying. By placing your part-time accountant in an inhouse role, you remove all outside distraction (by hiring them to work purely on your accounts) but essentially resign them to a role of data entry. That is no way of tapping into and developing their skillset to become more capable and more responsible for different areas of your business as it grows.

Consider this: something happens within your business that requires the business to respond differently. Yes, you have a dedicated accountant who can pick this up in their work hours, but they are not equipped to adjust their job role to meet this new demand – because they haven’t developed new skills and ways of working. And so, your inhouse accounting solution is suddenly unable to complete the role they have been hired for.

The Solution

Rather than bringing an inhouse, part-time accountant into the business, small businesses should consider the services and benefits of a part-time finance function – delivered by an organisation which taps into the expertise and knowledge of a range of individuals, without increasing the hourly demand or rate of pay.

Not only does this mean you benefit from more brains, but you will enhance your business accounts using different areas of knowledge and expertise which can be adapted and changed as required, as your business grows.

As an organisation dedicated to supporting small businesses in this way, our passion lies in working with teams rather than for them – planning and creating contingency plans for any issues that may arise and overcoming unexpected challenges together. Not only that, but we manage all of your accounts needs seamlessly – leaving you free to focus on running your business. Does a part-time accounting function sound like something that could benefit your business? Get in touch with us today to discuss how we can support you.