If you consider yourself a believer of the bizarre and something of a conspiracy fanatic, you may not want to read what you’re about to read. After all, every time a myth gets shattered its proponents typically cry out in agony in some far corner of the globe. In this case, we’re busy busting myths about small business accounting services—in particular, outsourced accounting services.
You’ve probably heard a bit about them before. They’re accounting companies that specialize in taking care of your books so that you don’t have to worry about hiring an in-house bookkeeper to keep everything on the up and up. So what’s the myth? That outsourced small business accounting firms don’t have your company’s best interests at heart—and that the only way to ensure security is to entrust your financial information to only one person: your bookkeeper.
The crazy thing about this myth is that it’s so easy to bust. Anyone who’s ever watched a single crime show can tell you that some of the greatest crimes in the world have been perpetrated by “insiders” who saw in a moment’s wrongdoing the answer to their lifelong money troubles. Simply put, having an in-house bookkeeper in charge of your company’s finances is an enormous risk that simply isn’t there with outsourced accounting services.
First of all, outsourced accounting services have checks and balances and transparent breadcrumb trails that would prevent anyone from perpetrating a crime without being immediately exposed. Whereas if a internal disgruntled bookkeeper decided to turn colors, it could be months before their misdoings would be detected. And by then, far too late to recover.
Nobody wants to give you nightmares, but this type of scenario is one that should be thought about long and hard if it’s to be prevented. Regardless of how you slice it, outsourcing your small business accounting needs makes logical sense if you’re concerned about the safety of your company funds. And these days, who isn’t?
