Outsourcing has essentially permeated every
area of business. As a small business owner, you should make the most of what
outsourcing has to offer. One of the tasks that you should outsource is
back-office accounting. Back-office accounting services handle payroll
management, accounts payable, service accounts receivable and other important
tasks. They hire dedicated workers and
cloud accounting services such as QuickBooks hosting and save both time and
money.
Yes, outsourcing your accounting and
bookkeeping to outside firms make a lot of sense for a small business.
Outsourcing is the biggest trend in the global marketplace and as a small
business owner it is something that you should take full advantage of. Let’s
look at how outsourcing your accounting related tasks can be advantageous to
your small business.
Outsourcing
Cuts Costs – The biggest reason to outsource
accounting related tasks to an outside firm rather than to get them done by an
in-house team is that it costs. Outsourcing provides much greater visibility to
your company’s financial operations and gives you better control over your expenses.
You can scale up or scale down your spending based on your current
requirements. Outsourcing delivers excellent cost advantages and allows you to
get more done for less.
Accounting
Firms Use Dedicated Software – Another major
advantage of outsourcing your accounting related tasks to an outside firm is
that they use dedicated accounting software and services such as cloud hosting.
Most back-office accounting firms make use of QuickBooks hosting, Sage hosting,
Drake hosting and other cloud accounting services. This helps them cut costs
and use the latest software upgrades.
You may be assured that accounting firms use the latest technologies
that are available in the market.
You
Can Pay As You Go – One of the biggest advantages
of outsourcing your accounting related tasks is that you are charged on a
transactional basis. Which means for
accounts payable related tasks, all users are charged on an inclusive
basis. There are no extra charges for
emails or phone calls or follow ups. Accounting firms provide an all-include a
monthly fee that includes all financial statements, transaction processing and
disbursements. So you will be asked to pay for the services depending on your
requirements alone.
You Are Assured of the Highest Level of
Security – Most accounting firms use third-party data centers made
available to them by a hosting company to store your information. Accounting
firms don’t hold any of your data on their servers – they store your data on
remote servers through the use of cloud computing. Cloud hosting providers
store your data in highly secure, state-of-the-art data centers with 24/7 power
backups and round-the-clock security.
Also, there is no fear of your data getting lost as it is backed up every
day, which ensures maximum data redundancy.
You Will Have Access to Quick and Accurate
Reporting – Cloud accounting is a very secure
method to store and retrieve most of your accounting and financial data. It
gives you the flexibility you seek and offers an excellent overview of your business’s
financial health. Back-office accounting firms use cloud computing to your
advantage.
