5 Benefits to Outsourced Accounting for Your Business

Posted on January 19, 2016

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Enjoy the Many Benefits of Outsourced Accounting

outsourced accountingOutsourcing is a growing trend for small businesses, with everything from marketing to accounting being turned over to outside specialists. In short, if it’s not part of the core competency of your business, you may want to consider hiring it out to someone else so you can focus on your goals. One major benefit of outsourced accounting and other outsourcing is the benefit of a specialist without the full-time salary and benefits necessary to have that specialist in-house.

Here are five reasons why you should consider outsourced accounting for your small business:

1. You’ll establish solid bookkeeping habits. Hiring a bookkeeper or accountant helps prevent the bad habits that often plague small business owners, like stuffing receipts in a shoebox to be sorted at the end of the year or mixing business and personal finances. Your accountant will help you put systems in place that make bookkeeping more streamlined and organized.

2. You will gain the benefit of informed analysis. When you use outsourced accounting, you get the benefit of reliable financial reports, as well as informed analysis and explanations of those reports. If you seek out new investors through a venture capital firm or angel investors, it is critical to present accurate financial information. If an investor is choosing between you and another investment opportunity, it’s time to shine with professionally-prepared financial reports.

3. You’ll know your burn rate. Your burn rate is the length of time you’ll be able to stay in business at the rate you are spending and making money. Your accountant can determine your burn rate and make recommendations for extending the life of your business.

4. You’ll get advice in those critical first years. Using outsourced accounting provides you with informed guidance based on an intimate knowledge of your financial health. Your accountant can help you make decisions on growth opportunities and capital investments with the unique insight that comes with providing services to companies similar to yours in size and potential.

A good accountant does more than simply replace a QuickBooks application on your desktop. They will provide financial reports with detailed explanations and guidance for your future.

5. Your accountant will scale with your business. One of the important benefits of outsourced accounting over hiring an in-house accountant is its flexibility as you grow. You may be just starting out, but if your business takes off in the coming months and years, it’s nice to know that you can easily increase the services from your accountant.

At AccuBiz, Bert Doerhoff, CPA, offers a variety of services for outsourced accounting. Whether your business requires full accounting support, or if you prefer to only outsource one area, like payroll, AccuBiz is a good fit for your small business. Call us to set up an appointment and relieve the stress that comes with managing this critical area of your small business.

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