Get A Quote6 Reasons You Need To Outsource Your Bookkeeping
1. Provides You With a Dedicated Team
Outsourced bookkeeping and accounting services provides you with a dedicated team that consists of a bookkeeper, staff accountant, and accounting manager — you will receive the fractional share of a full accounting department for less than what it would cost to hire a full-time in-house bookkeeper or accountant.
A remote, expert accounting team often provides higher quality and deeper expertise than what you can get for the same price for an in-house employee. Having specialized industry knowledge in bookkeeping, accounting and technology will ensure your business is compliant with all regulations and laws.
2. Creates a System of Internal Controls
Having the responsibility of maintaining your books resting on one individual employee rather than separating the duties among several jeopardizes the integrity of your financial information and increases the risk of fraud. By outsourcing your bookkeeping services, you will create a system of internal controls to help protect your business from fraud and human error.
No longer will your most important records rest solely in the hands of a single point of failure, you can rest assured knowing that your records are protected and have a system of checks and balances to ensure they are accurate at all times.
If you do not implement a system of internal controls, you, essentially, are handing over your keys to the bank. Your employees can steal from you and cover their tracks- and you won’t know what is happening until it is too late.
3. Ensures Your Records and Accounts Accurate, Up to Date
Few things are more frustrating for a business owner than not knowing whether your accounts and records are up to date. When you outsource your bookkeeping, not only will your account information be accurate and timely, the information also will be available to you anytime, anywhere with the click of a mouse or via your mobile device thanks to cloud-based QuickBooks-centric system.
The use of cloud technology in virtual bookkeeping improves accounting accuracy and collaboration between colleagues by providing automation and integration of business functions in a platform that enables all authorized users to access documents and data.
While controllers typically are responsible for the month-end reconciliation, bookkeepers often maintain and reconcile general ledger accounts, including overhead and inventory. A remote team would handle all of these responsibilities for your business, along with your accounts payable and receivable and other bookkeeping responsibilities.
4. Gives you Peace of Mind with a Safe and Secure Technology Environment
We understand the critical importance of operating in a safe and secure digital environment when it comes to handling your sensitive financial records and data.
With an outsourced accounting team, using cloud-based technology such as QuickBooks, your information will be available to you and your team 24/7 and you can enjoy the knowledge that your information is well protected.
5. Keeps Your Employees Paid on Time
With our outsourced bookkeeping service for payroll processing, never again will you have to worry about your employees not being paid accurately and on time due to human errors.
A good remote accounting partner will set up any weekly, biweekly, semimonthly or monthly payroll services for you, calculate all payroll withholdings and any employee or executive bonus calculations.
6. Makes Sure ‘Taxman’ is Happy – Outsourced Bookkeeping Services
In some businesses, bookkeepers are responsible for preparing tax returns for payroll, unemployment business and operating expenses, and more; in other businesses, owners prefer to keep tax-related responsibilities separate from bookkeeping.
By outsourcing your bookkeeping service to experts, your taxes are properly recorded and paid so you can avoid the No. 1 mistake in sales-tax bookkeeping. An added bonus is that your business will experience a reduction in employer payroll taxes by not having to employ any in-house bookkeeping or accounting staff!
Effective Accountancy offers customized solutions to meet your basic or advanced bookkeeping and accounting needs. We hire and continuously train our bookkeeping staff and associates to provide you with the most accurate service possible. If you’re ready to get a better perspective of your company’s financial future through its records, let’s discuss how our bookkeeping and accounting services professionals can best serve you and how you can prevent risk with outsourced bookkeeping.
