Outsourced accounting for small companies might seem like a cost you can’t afford. But that’s only because you don’t yet understand the benefits. We can help there.
Ever considered outsourced accounting for small companies, then dismissed it on the basis of “It’s too expensive for a small business like mine”? If so, you’re not alone. Many small business owners assume that accounting is on them, come hell or high water.
But why? Why should you spend your valuable time on an activity that’s not in your wheelhouse? Especially on an activity that causes much more hair-tearing and lost hours than it does satisfaction and happy ROI? (Okay, the ROI’s not happy; you are. But you get what we’re saying here.)
Before you reject outsourced accounting, it’s time to consider these five benefits to your business.
1. Payroll Cost Reduction
Wait, you’re thinking, How can outsourcing accounting possibly help me save money? It’s going to cost more, obviously! Actually, we contend it’s not obvious at all. While you do have to pay accountants, don’t forget that means you don’t have to pay employees. The benefit is that you pay for expert help rather than bumbling attempts by workers who don’t know the fastest or most accurate ways to complete accounting tasks. Plus, with outsourced help, you only pay for accounting when you need it, rather than a year-round salary.
2. Accounting Helps Keep Your Business Afloat
Did you know that more than four-fifths of businesses fail, and most of that is due to poor financial management? It’s true. And while we’re not saying that a bookkeeper can necessarily save you from the quagmires of bankruptcy, expert accounting certainly helps. Cashflow problems, unforeseen expenses, lack of disaster preparedness, and late taxes lead to business devastation every year. The good news? You don’t have to let that be you. With accounting help, you can get the information and analysis you need to avoid it all.
3. Access to Cutting-Edge Technology
Pop quiz: Who’s more likely to have the most recently updated technology – your small business or an accounting firm? If you answered “accounting firm” you get a gold star. Tally that in your credits section. Accounting firms update their software every year, pay for extras and customizations you can’t afford, undergo continuing education to stay on the leading edge of regulations and money-saving tactics, and more. Think what an advantage that is over struggling along year after year with outmoded tech and old-fashioned knowledge.
4. You Can Focus on Your Real Skill Set
You didn’t go into business to become an accountant, or you wouldn’t have clicked on this post, now would you? The truth is, your time is best spent on what you do best. Outsourced accounting can help by putting your money toward fast, accurate financial help that doesn’t require redoing later. Meanwhile, you get to make the most of your time and, as a consequence, make more money. Doesn’t that sound better than struggling through tasks for which you’re not suited?
5. Outsourced Accounting Can Save Your Sanity
Payroll outsourcing isn’t the only outsourced service that can save your sanity. But it does go hand in hand with accounting. One of the most significant benefits of hiring professional accountants is that they provide so many interlinked services under one roof. Now you can combine all your financials while avoiding the nasty chore of doing them yourself. We use QuickBooks to keep all your accounting, payroll and tax information tidy so you don’t have to.
Ready for Some Outsourced Accounting Help?
Ready to take the reins of your business by getting rid of those activities that don’t match your skill set and aren’t serving you? Accounting Partners is here to help. Please click or call 678-990-0924 for a free consultation. You’ll learn how outsourced accounting for small companies can help your business thrive while leaving you more time to enjoy the good stuff in life (as well as more hair)! Don’t wait; call today.