How are firms handling bookkeeping as deal volume grows?
I’m curious how smaller investment firms, advisory teams, and finance-focused businesses are handling bookkeeping as their transaction volume grows. At a certain point, keeping everything in-house can become time-consuming, especially when the team needs to stay focused on analysis, reporting, client work, and deal execution. I’ve also noticed that bookkeeping can become more complicated when there are multiple entities, recurring transactions, reconciliations, and different reporting requirements.
For those who have used virtual bookkeeping services, what has your experience been like? I’d be interested in hearing how you evaluate providers, particularly around accuracy, turnaround time, accounting software experience, data security, and communication. Do you generally prefer an internal bookkeeper, a virtual resource, or a hybrid setup? Also, at what stage did outsourcing bookkeeping start making sense for your team?
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