Is Outsourced Accounting Right for Your Business?
As we navigate through our new reality, we are all learning and embracing more and more about technology each day – from online banking to virtual meetings. Many businesses are evaluating how they operate in all areas of their business and finding ways to be more efficient. One area you may not have evaluated is your accounting services. Can you access your accounting records remotely? Are your accounts reconciled timely? Are you receiving timely financial reports? How are you managing daily accounting operations during this crisis?
Businesses already outsource a variety of services, including payroll and billing services, because they recognize that outsourcing this service to a team of professionals is more cost efficient than training, covering the cost of payroll and benefits, and retaining or replacing the position internally. Why should your accounting services be any different? Can you afford to hire and train a CPA internally to run your accounting department? Generally speaking, the answer is probably no, but you could outsource the accounting function to a team of CPAs who are also responsible for training, retaining, and compensating a team of professionals so you never have to worry about training your accounting department again.
Our team of experts can streamline your existing systems and tailor our services to meet your business needs. Our services include processing receivables and payables, posting payroll entries, reconciling accounts, tracking PPP loan funds, and providing you with timely financial reports. We can help increase efficiencies by assisting you with budgeting, cash flow, tax planning (including estimated quarterly taxes), and provide general accounting support.
There is no substitute for clear, concise, and timely financial packages that provide the valuable data necessary to drive growth. Let us focus on the accounting work so you can spend more time running your business and less time worrying about the financial details.
Authors: Kathryn A. Sisson, CPA, MST and Vera Bruursema
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