When you think “outsourced accounting” you might think yet another industry has abandoned the United States of America for cheaper prices abroad. Cheaper prices that leave you, the customer, sitting on a phone line for hours wondering, “Why can’t I just speak to my accountant face-to-face? Like in the good old days!” Luckily, outsourced accounting has nothing to do with exporting accounting resources to other countries and has everything to do with giving you the best accounting services money can buy. Here’s how a bit of outsourcing could save your small business.
Outsourced Accounting for Small Businesses
1. An Outside Opinion Isn’t Always a Bad Thing
It can be a little disconcerting when you hand over your finances to an independent accounting firm (and it’s to be expected). Trust does not emerge overnight and will likely take some time to develop but, it will develop in the right hands. In the right hands, giving up control will let you focus on your business and will let your accountant focus on your finances. They can give you their objective opinion on where you can afford to take risks, where you can afford to save and areas where it might be prudent to cut back. Plus, with someone always monitoring your books the likelihood of employee theft occurring on your premises will drop significantly.
2. It’s Cost Effective
Doing all of your accounting in-house can get awfully expensive. You have to pay salaries, benefits, taxes and more just so you can keep your finances in order. Compare that to the relatively low cost of outsourced accounting and it’s easy to see why so many small firms choose to not do their accounting in-house. An independent accountant will keep your financial documents safe, allow you to focus on your company’s vision (and less on the financials) and keep your organization moving forward all while saving money.
Outsourced accounting can be an especially useful and cost-effective way to keep your small business afloat and pointed in the right direction. All you have to do is find an independent CPA firm that is reliable and has the experience to give your company a financial edge over your competitors.