Outsourced accounting can pose many questions for a business owner that is considering making the switch, or just simply trying to learn more about the service as a whole. AccountingDepartment.com is the leader in outsourced accounting a bookkeeping services, and we have compiled some of the common questions asked when it comes to making the switch from in-person to outsourced accounting services.
What is Outsourced Accounting?
Outsourced accounting is simply the task of having an outside service provider handle all of the accounting for a company. There is no longer a need for an internal accounting department and most, if not all, accounting tasks are shifted externally. In essence, the service provider provides businesses with an accounting department experience that frees up time and resources for a company.
What advantages does outsourced accounting offer?
Outsourced accounting provides many advantages for business owners. Some of the most common are as follows:
- Having the most qualified person for the job
- Cost savings compared to having in-person departments
- Up to date tech and software
- Expanded recruiting area
- Scalability options
Is outsourced accounting cost-effective?
While every situation differs, outsourced accounting usually costs less than hiring an internal accounting staff to handle the company's financials. Hiring a company like AccountingDepartment.com saves money in more ways than one and removes the need to worry about recruiting, onboarding, training, benefits, salary, etc. for accounting employees.
Is outsourced accounting secure?
While searching for an outsourced accounting firm, the business owner should inquire about safeguards and policies in place that keep data secure and prevent information leaks. With cloud-based programs and company servers, ensuring that security measures are in place is what can protect a business' important banking and financial data. Make sure an accounting firm is selected that is trusted in taking precautions to keep information safe.
Does the business give up control with outsourced accounting?
While an outsourced accounting provider like AccountingDepartment.com handles everything accounting-related for a company, the businesses owners are always in the loop with things like customizable dashboards that give them real-time access to financial reports and more. Outsourced accounting firms should be seen as an extension of the business that is using the service and not an out of touch service provider.
How does a business get started with outsourced accounting?
The first step to getting started with outsourced accounting is realizing the areas that the business will benefit. Next will be to do a good amount of research on the different service providers. Full transparency from a prospective service provider is very important. AccountingDepartment.com offers an informative demo session for those that are interested in the "Gold Standard" in outsourced accounting services.
Reach out to AccountingDepartment.com today to see if we are a good fit for your business when it comes to making the jump into outsourced accounting.