The Benefits of Outsourcing Accounting for Small Businesses and Startups
Professional Guidance and Valuable Business Insights
Accurate, high-quality accounting and bookkeeping services are essential for growing a healthy business that generates consistent revenue. Outsourcing your accounting can give your business vital data, connect you to trustworthy experts, and ensure your financial records are impeccable.
But, for most small businesses and startups, hiring a full-time person on staff poses significant challenges, from the costs involved in hiring to finding someone with the knowledge needed to take your business through every phase of its financial life. Turning to a qualified outside company for accounting and bookkeeping services offers important benefits that can bolster your business’s well-being and bottom line.
Accounting Meister offers certified, professional help to small businesses and startups looking for outsourced accounting services, plus we offer training, tutoring, and consulting. If keeping the books balanced is keeping you up at night, contact us for friendly, expert assistance.
Flexible, Scalable Accounting Services
A business’s needs when it first opens its doors are different from the issues it will face five or ten years down the road. With outsourced accounting, a business can easily adjust the level of services it needs. During some portions of a business’s life, funding may be a major concern, creating the need for various types of financial statements, help with loan applications, projections on future earnings, and other similar data. This requires a different set of skills than what’s needed for daily bookkeeping tasks, like A/R, A/P, and payroll.
When you outsource accounting, you have the advantage of working with professionals who provide a wide range of services. Accounting and bookkeeping firms are focused on financial tasks, and their teams possess the expertise and skills needed to handle everything from basic bookkeeping to corporate tax returns.
Help With Accounting Software Like QuickBooks®
A large percentage of small and medium-sized businesses use the popular accounting software QuickBooks®. The software is designed to be easy for non-professionals to use, but accessing all of its features often requires some help. Outsourcing your accounting gives you the benefit of working with experts who understand the software and the underlying principles.
Accounting Meister routinely helps business owners decide which QuickBooks® package is best for their needs, and provides training and tutoring to get you up to speed and running efficiently as quickly as possible.
Online Bookkeeping and Business Success
Many businesses today are opting for online bookkeeping, which allows collaboration, syncing of financial accounts, mobile access, and secure cloud storage of data. Professional accounting and bookkeeping firms are familiar with online bookkeeping and can help a business owner make sure their business is set up properly for these services.
While online bookkeeping gives users a wealth of resources to help them manage their financial records and do routine tasks, making sure everything is set up correctly can be challenging. Accounting and bookkeeping firms that provide outsourced services can help businesses get set up correctly and implement best practices to safeguard their finances and books.
At Accounting Meister, we have years of experience with online bookkeeping and accounting. We’re ProAdvisor certified for QuickBooks® and also can help with other accounting apps and software. We offer comprehensive outsourced accounting services to meet all of your business’s needs. Contact us today to schedule a free 15-minute consultation or to get more details about our services.
An Objective Point of View
Accounting and bookkeeping experts who aren’t employees of your business can provide valuable, objective points of view that you might otherwise miss. They can evaluate processes and help make improvements to your systems that will result in increased productivity and even revenue gains.
When you work with in-house team members, unconscious biases can creep in, and there may be a sense of “but we’ve always done it that way” when examining potential areas for improvement or change. Working with an outside firm gives you the advantage of fresh eyes that can spot potential trouble spots and opportunities.
No Need to Hire or Manage An In-House Team
Hiring new team members is an expensive, time-consuming endeavor that doesn’t always result in a successful new employee. With potential new bookkeepers or accountants, you have to screen not only for how they might fit in your company’s culture, but also for their professional qualifications in the field. Not every bookkeeper or accountant does the same thing, nor do they all perform at the same level.
Additionally, for many small businesses and startups, there’s not enough work to keep a full-time bookkeeper or accountant busy. And part-time employees may be less invested in your company’s success, resentful of workload differences, or provide inconsistent quality in their work.
Outsourcing your accounting eliminates these concerns. Rather than spending precious time on recruiting and managing an in-house team, you can simply turn over your books to the experts. And have peace of mind knowing that when your needs change, you have the advantage of being able to quickly and easily adjust the level of outsourced accounting support to meet your needs.
Recoup Valuable Time
Owning a business is a 24/7 commitment that often leaves little time for anything else. If you have to divert your attention from your core business to handle things like accounting or bookkeeping, that’s time that could have been spent on a dozen other critical issues.
Outsourcing your accounting removes things from your to-do list that would be better done by capable professionals. Is sending invoices or preparing payroll really the best use of your time? Or would you rather be following up with warm leads, exploring expansion plans, and mentoring employees? You can return your focus to the things you do best when you offload tasks like bookkeeping and accounting.
Thrifty business owners may think outsourcing their accounting will be too expensive, but in reality, it’s exactly the opposite. Working with a professional firm gives you insight, actionable data, and professional guidance that saves you money in the long run by preventing costly mistakes.
Accounting and bookkeeping firms are much less likely to make errors or leave your business vulnerable due to insufficient understanding of regulations or accounting best practices. Mistakes and bad information can result in costly fixes.
Professional firms also work with the latest and most updated technology, so you may not have to worry about purchasing new software or upgrades.
Ultimately, outsourcing your accounting can be one of your best money-saving decisions.
At Accounting Meister, we have years of experience helping businesses with their bookkeeping and accounting needs. Whether you need a full-service accounting firm, training, or consulting, we can help your business take charge of its financial health. Contact us to learn more or to request a free consultation.