BookKeeping

Things You Need To Know Before You Outsource Your Bookkeeping.

Streamlining your company’s day-to-day operations and upgrading business functions is becoming a common practice today. However, some companies are hesitant to outsource because they involve sharing highly confidential information. No matter what rank your businesses are – small, medium or large scale – here are few tips before you decide:

Choose A Trustworthy Service Provider

Whether you hire an individual bookkeeper or an accounting outsourcing service provider – online community offers cheap all-in services – always consider quality over quantity. You can ask for the recommendation but here are several factors you need to check. Some of these characteristics are:

  • Manage accounts receivable and payables
  • Posting and updating journal entries
  • Payroll processing
  • Adept with latest accounting technology
  • Flexible and have good problem-solving skills
  • Reconcile bank statements
  • Able to communicate very well (especially when checking for discrepancies)
  • Professional licensure or certificates
  • Great sense of dedication and trust

Real Benefits of Outsourcing to your Business

Why do you want to outsource anyway? The whole point is that it allows you to focus on your core functions while having experts handle your accounts.

Understand The Flows of The Industry

Never leave them guessing on what exactly you ask. Some firms ask for formats, documents, contracts. Divide time for some revisions, adjustments and create a resounding relationship between the two of you.

(Additional Pitch)

We at OZ Tax PTD are not mediocre bookkeeping leads, all of our staff are certified, accountants. Not your ordinary personnel – we consider ourselves your personal business advisors. Our vision goes beyond accuracy in spreadsheet and bookkeeping needs; but ideas, strategies, actions, and plans.– for comments.

What Motivates Clients To Seek Outsourced Bookkeeping Services?

Small to medium business owners have long seen outsourcing bookkeeping as a strategy reserved for big business, but now technology has made it a more acquirable tool for small businesses. Outsourcing has made some firms much powerful in terms of growth, productivity, and operations.

Taking the first steps toward outsourcing can be unrealistic and time-consuming. More and more businesses are outsourcing tasks these days because advanced technology has enabled professionals (especially who leave the corporate world) to lessen the burden of companies’ paying overhead associated with payroll taxes and expenses such as insurance, health and employee’s compensation.

Today is never late to begin why companies prefer to outsource. The potential growth awaits you!

Why Do Clients Seek Outsourcing Bookkeeping?

  • The progressive business owners and entrepreneurs realize the unstoppable power of outsourcing to handle aspects of their mercantile that are important but don’t need much attention.
  • Lack of bookkeeping procedures and processes are the most common dilemma of its clients. Maintaining a comprehensive list of all your bookkeeping tasks, accounting processes, and administrative procedures is never easy. When your books are not closed on time, the bookkeeper and accounting staff quit or managing data in multiple systems without synchronization – the service needs a diagnosis.
  • Having an inaccurate or late financial reporting such as – no exact profit margin value, red marks on P&L and no implementation of job costing – provides a migraine to clients.
  • How about cash flow forecasting? Correct business procedures must know their 12-month forecast and bank account reports. If your AR Aging report is non-existent and payments of bills are offline, outsource bookkeeping is the solution. Clients scream the unpredictable future sales due to lack of clarity in revenue data.
  • Having non-existent accounting technology integrations and unrealistic synchronized systems face off nightmares over the companies. From losing your bookkeeper to lacking advanced bookkeeping skills to outright theft, a personal problem may hinder the company’s growth. Clients get data, not insights and there is no accountability for certain expenses in your records.

(Additional Pitch)

We at OZ Tax PTD are not mediocre bookkeeping leads, all of our staff are certified, accountants. Not your ordinary personnel – we consider ourselves your personal business advisors. Our vision goes beyond accuracy in spreadsheet and bookkeeping needs; but ideas, strategies, actions and plans.– for comment.