Why Outsourced Accounting Services?

While accounting is not the strong suit of most business owners, many spend far too much of their valuable time trying to keep up with the accounting needs of their business. Every hour spent on accounting robs business owners of time that could be spent running the business. Luckily, there is an easy and cost-effective solution: outsourced accounting.

By relying on outsourced accounting, business owners can harness the know-how of trained bookkeepers, controllers, CFO’s and accounting technology experts without having to pay the overhead and other costs of full-time financial experts.

But it can be hard to know when might be the right time to bring in accounting professionals. With 20 years of experience, The A Team understands the highs and lows of new business ownership – especially the growing pains that occur during the first year of incorporation. 

Here are their 5 signs that you might benefit from the support of an outsourced accounting firm:

1. You don’t have the time to keep your books up to date. If your books are incomplete and/or inaccurate, you need a professional Bookkeeper.
2. You are experiencing cash flow problems. If you don’t know how much money you have or how much you can spend, you need a professional Controller to help you figure this out.
3. You are spending too much time and money on accounting tasks. Let an accounting technology specialist assess which integrations and automations would be useful to streamline your business.
4. You are so bogged down trying to keep the numbers straight that you can’t see the big picture. Hire a Fractional CFO to assist with Goal Setting, Strategic Planning, and other high-level tasks.
5. You are growing rapidly and don’t have the time or resources to hire a full-time accounting staff. With outsourced accounting services, you get the support you need without having to source and employ a full-time staff.

4 Reasons To Rely On Outsourced Accounting

1. Cost Savings: Helps save costs compared to maintaining an in-house team. Avoid expenses related to recruitment, salaries, benefits, and training.
2. Peace of Mind: Alleviate the stress of wondering whether your books are accurate or if your bills are being paid on time.  
3. Expertise and Efficiency: Access a team of accounting professionals with diverse expertise. Benefit from their knowledge of accounting regulations, technologies, and best practices.
4. Focus on Core Business Functions: Delegate accounting tasks to experts and focus on your core business functions. Allocate more time and resources to growing your business and serving customers.
5. Scalability and Flexibility: Enjoy the flexibility to scale accounting support based on your business needs. Adapt easily without the complexities of hiring or downsizing an in-house team.

Don’t leave the future of your small business to chance! Take the reins today with the help of The A Team, a top outsourced accounting firm that offers practical accounting  and accounting technology solutions to support your business. Call 646-849-4267 or shoot us a message to set up a consultation with an A Team member.

Sources:

Is It Insane to Start a Business During Coronavirus? Millions of Americans Don’t Think So. – WSJ

Increase in Americans Starting Businesses Surges to 13-Year High: Report (businessinsider.com)

Entrepreneurs Started Businesses in Record Numbers During the Pandemic