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Ozzie
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Army of One, post: 24646 wrote:
Intriguing idea Ozzie – I think you may have been talking to my boss!

Most of our admin staff have a reasonable level of proficiency with QuickBooks – so he had the ideaof internally ‘outsourcing’ the bookkeeping work from our accounting clients to these staff members.

It works great – it doesn’t take much to recover the overhead costs, the admin staff learn new skills and the clients actually get better quality and more accurate and timely reporting as the work is supervised by their own qualified accountant.

Lessoned learned – always try to look at your business from every possible angle and look for improvements.

Kris
a good case study indeed…
The challenge of converting cost centres into profit centres means that the “reality” of your cost to profit ratio improves which indicates a healthier business IMO. Sure it may not mean huge increases in profits generally but it does improve this ratio which is one of those things people look for when buying a business. [ well I have so I guess others have]

So you have added bookkeeping to your lists of services with out increasing administration staff or professional staff…a straightforward and intuitive outcome. Well done!