It is common for businesses to treat accounting services as a “take your medicine” task and try to get it over with as quickly as possible. However if not given the attention it deserves, business finances can quickly spin out of control. OSI can take over these tasks by providing a virtual accounting department that provides a better solution than the do-it-yourself option or hiring outsourced bookkeeping services.
Accounting Is Harder Than It Looks
It is common for businesses to think that accounting is a simple matter of entering receipts, writing checks, and filling out tax forms once a year. It seems like an almost trivial task and often the owner decides to take on the duties. However other issues continue to take priority and even basic bookkeeping tasks keep getting put off.
Sometimes the financial duties get passed around to whoever has the time or become the thankless job that goes to the new kid. It is never made the core of anybody’s job description and records become confused. Transactions might get entered wrong, entered twice or not entered at all. Very quickly the company’s books become a disorganized mess.
A Bookkeeper Is Not An Accountant
Now the organization realizes that they need a dedicated financial person but doesn’t know how to hire one. They don’t know how to evaluate applicants or judge their abilities. Some hire outsourced accounting services, figuring the firm will have the expertise to give the work to the right people.
This is a good idea in principle, but many business owners think they are hiring an accountant and actually get a bookkeeper. Bookkeepers handle day-to-day tasks but are not qualified to make policies. Much of the burden is still on the owner, who is frequently making financial decisions without appreciating their impact.
Most businesses don’t need a bookkeeper or even an accountant. They need a full-service virtual accounting department like OSI.
OSI As Your Financial Partner
So what is a virtual accounting department? It is a comprehensive solution to your company’s financial operations needs. You get a bookkeeper who handles the routine aspects of your accounts including bank reconciliations, report generation and data entry. You also get a controller who provides management and analysis skills to ensure you know about any problems before they become problems.
You decide how much authority you hand over to us. We can handle all of the routine operations, allowing you to focus on what you do best. If you want to be more involved, you have full access to your records online at all times. We can provide guidance through the complicated maze of accounting principles, or we can back off and let you handle it.
OSI’s virtual accounting department concept gives you as much or as little help as you need to keep your business going strong.
