The trend today for many employers is to outsource any function of the business that is not directly related to the generation of income. But what exactly is outsourcing? Simply put, outsourcing is the long-term contracting of a company's business processes to an outside service provider, helping to increase shareholder value by reducing the costs of non-core functions.
Of course, outsourcing is not a new concept. For years companies have outsourced their legal, advertising, printing and computer services so they benefit from professional expertise without substantially increasing overhead.
Outsourcing your accounting services is applicable for your current situation if:
Outsourced Accounting Is Cost-Effective
Employing an in-house bookkeeper is expensive. That cost comprises not just salary, but additional direct costs including employer payroll taxes, workers' compensation, medical insurance, retirement plans and other benefits. Additionally, there are employee vacation and sick days to consider. And don’t forget the time and expense involved to place classified ads, as well as interview, screen, test and train an employee. Our virtual, outsourced accounting service fees are extremely competitive by comparison. With accounting outsourcing, you also get flexibility in adjusting the level of service to meet the seasonal needs of your business.
Outsourcing Reduces Your Year-End Work and Fees
Since AccountingDepartment.com maintains your general ledger and subsidiary schedules as part of the ongoing recording of accounting information and preparation of documents, your year-end work is significantly reduced. That translates into lower accounting fees and faster turnaround time in preparing tax returns and financial statements. AccountingDepartment.com can work with your tax professional throughout the year to ensure that your books are tax ready. Alternately, we are able to provide tax preparation services for existing clients as needed. If you are in need of compiled, reviewed or audited financial statements, AccountingDepartment.com will work with the professionals preparing these statements to minimize your accounting and auditing fees. (As your accounting department, AccountingDepartment.com is not independent and so cannot conduct an audit of your financial statements.)
Outsourcing Is An Investment
Your business is unique and has its own set of outsourced accounting needs. That's why AccountingDepartment.com calculates a monthly fee for you after reviewing company's existing accounting files, followed by a conference call to review the results of this review. During the call, AccountingDepartment.com explores the challenges and issues related to accounting functions to determine the scope of the work.
To take a test run of our outsourced accounting services, we offer you a free, no-obligation proposal. We are happy to walk you through our virtual accounting services and explain the savings, peace-of-mind and greater financial control you can achieve by outsourcing your accounting department functions to AccountingDepartment.com.