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Four Common Misconceptions about Outsourced Bookkeeping

Business owners looking to outsource bookkeeping may be skeptical due to a number of reasons. Let us shed some light on a few of those & at the same time, draw a clear line between fact & fiction:

Ready to avail all the benefits of outsourced bookkeeping? Get in touch with us at: A&B Accounting and Business Solutions

Don’t Let These Myths Keep You From Exploring Alternate Bookkeeping Options

Outsourcing important business function is gradually gaining a strong foothold in industries around the world. Particularly, small to medium business owners are rapidly beginning to realize the importance of hiring third party service providers for accounting, bookkeeping and other operations.

However, the perception about outsourcing remains to be in the grey area. It is often accompanied with confusion, and for some, outright fear.

Similarly, business owners looking to outsource bookkeeping may be skeptical due to a number of different reasons. This article sheds light on those very reasons, clarifying them and helping separate fact from fiction:

Loss Of Power

No business owner likes the idea of losing control of their operations. This misconception feeds on one of business owner’s most significant fears. The truth is, rather than costing you control and power, outsourcing bookkeeping will actually give you a better grip on the company’s objectives and goals. You will have enough time on your hands to make informed business decisions while a reliable service provider looks after the books.

It Always Means Sending Work Overseas

For most business owners, the number one thing that comes to mind when considering outsourcing is sending work overseas.

Outsourcing simply refers to contracting work to a service provider. In no way does it point to offshore companies. In fact, one of the fastest growing sectors under this domain is that of service providers in the US.

A large number of US based accounting firms offer bookkeeping services to companies within the US.

There Are Always Concerns Over Security

Business owners considering outsourcing bookkeeping may also be concerned over matters regarding security of their financial records. Even though nothing stored on the cloud is technically safe, professional accounting services implement the best security measures. They also ensure complete confidentiality of your documents and records while safeguarding your information at all times.

They Are Always Late

Another misconception that keeps business owners from using outsourced bookkeeping services are the concerns over time management. The truth is, outsourced bookkeeping services are highly professional.

They are there in the first place to take responsibilities off your shoulders so that you can focus on business growth and development. Provided that you research the company before handing over bookkeeping to it, punctuality and time management should be the least of your concerns.

Professional accounting services are among the leading choices for business owners looking to streamline business management, while having a responsible team of experts looking after their books. If you are looking for small business accounting services, check out A & B Accounting and Business Solutions. 

Bookkeeping 101: Don’t Rely On Inexperienced Bookkeepers

Would you take your Tesla Model S to a ‘cheap mechanic’? Why then would you consider letting a novice or inefficient service deal with your business’s bookkeeping?

No one imagines bookkeeping going wrong; it can harm your business too much. But, you realize that your financial decisions are guided by the analysis of information present in the ledger. So, you know how drastic it can be!

How do things go wrong?

Small businesses often view bookkeeping as an additional expense. They think of it as a cost that burdens their financial resources.

In order to save money, these businesses go for cost-cutting strategies. They either hire an inexperienced bookkeeper service or have other staff do it for them. Some even go as far as giving the responsibility to their family members.

The problem is that most people don’t realize how that could end. The blame is put on problems with the cash flow, inability to pay bills on time and so on. It’s easy to forget the source of the problem: bookkeeping.

Where do these problems start?

Most businesses face these problems because of inadequate procedures and systems for record-keeping.

It is important to have the latest systems in place so that chances of errors are reduced.

Business owners rely on accountants to provide insights related to growth and design strategies for realizing future prospects. However, if the bookkeeping is riddled with errors, strategies and decisions based on these figures are going to be unhealthy for the business too!

Bookkeepers who don’t have sufficient experience can’t understand the importance of financial management. Accuracy is needed even more for a small business, as a single error could lead to business failure.

How can you avoid this situation?

Hiring professional bookkeeping and accounting services can solve all your problems. Because of their experience, they see patterns and notice trends which can be useful for your business in the future. This will help you take the right steps at the right time!

Focusing on the bookkeeping, you can get the support your business requires to get to the top. We suggest going for an experienced service provider such as A&B Accounting and Business Solutions, LLC.

The company offers professional bookkeeping services and a number of business solutions in Florida. Contact them today to avail their highly affordable services.

3 Benefits of Outsourcing Bookkeeping

Looking for the most reliable bookkeeping services?

A&B Accounting and Business Solutions, LLC offers a Full accounting service that meets all your needs.

Outsourcing Your Accounting Services: Is It A Good Idea?

Small businesses and bigger corporations often choose to outsource their bookkeeping and accounting needs.

This may also include giving away the functions of record keeping, payroll services and even government tax filings. Why are businesses electing to outsource the freedom of independently carrying out their financial services?

Advantages of Outsourcing Your Accounting

Using a professional to design, and implement bookkeeping solutions is becoming an increasingly viable option for businesses owner across the country. Here are a few reasons why:

1.     Time and Money Savings

Outsourcing bookkeeping operations can help small businesses owners and new entrepreneurs find time to spend on money-making activities, as they leave the money-counting to the pros.

Backend office functions can be distracting, and may cause conflict of interest in an already overworked workforce. Outsourcing the accounting function is more affordable than hiring a full time accountant because you only pay for services and time used, and nothing more!

2.     Quality Expertise on Your Side

Outsourcing to a professional bookkeeping services can bring expertise and specialization to your accounting function. If you were to hire a full-time accountant who offers similar proficiency, it would cost a lot in benefits and salaries.

When you outsource, you are essentially commanding the same full-time knowledge, without having to pay for it!

3.     Access to Specialized Systems & Services

While most businesses can’t afford to pay for and keep up with expensive bookkeeping programs, outsourcing the needed job can help them crowdsource the power of these professional programs affordably. After all, you are essentially buying the tools and knowledge of accounting experts by proxy, when you outsource your accounting requirements to them.

4.     Better Scalability of Services

Here’s another major advantage of outsourcing your accounting services. If you are expanding or cutting down on your business, an in-house accounting department won’t shrink or expand simultaneously. You will still have to continue to pay for accountants for a few months despite the fact that you won’t need their services. Similarly, hiring more accountants will take time with interviews, negotiations and confirmations until the new hires can start their work.

On the other hand, outsourced accounting function can be scaled up or down fast, with a quick phone call. Fact of the matter is that, you will always have a team of accountants at your behest, ready to do some accounts for you!

5.     Reduced Chances of Fraud

According to a study, privately owned businesses are the biggest victims of financial fraud. The reason is simple: many small businesses don’t hire CFO and controllers who can keep an eye on the metrics and identify potential abnormalities in transactions or billing data.

Outsourced accounting services usually offer these services, and can report any suspected abnormalities before they become huge issues for small businesses.

The Last Word

It is strongly recommended for small business owners to consider using outside professional accountants to ensure their complete peace of mind. If you need to outsource your bookkeeping service in Boca Raton FL, or surrounding areas, get in touch with A & B Accounting & Business Solutions.

Based in Deerfield Beach, FL, they offer professional bookkeeping. From billing and inventory control to filing of government remittance forms, they do it all.