Outsource Accounting & Support Services For Your Business

"Do what you do best and outsource the rest"   Tom Peters

Selecting the "best fit" accounting service option for your business:

This depends on many factors, among which include: the size of your business, your industry, the volume of transactions, the number of employees, skills and experience, etc. For these reasons, there is no "one-size-fits-all" solution. However, in assessing your current situation and understanding your objectives we can customize a solution to best meet your needs and your budget.

Write-up accounting services:

Can broadly be defined as the after-the-fact summarization of your accounting transactions whereby we maintain your general ledger based upon the source documentation generated by your business. The frequency upon which your general ledger is updated could be monthly, quarterly or even annually. However, in most cases we recommend that the general ledger be updated at least once prior to year end anytime from October to November so that a trial balance can be generated for year end tax planning purposes.

Outsource the complete bookkeeping function.

This level of service goes beyond that of write-up in that the source documents such as checks and invoices are also being generated for your business. Outsourcing the "back-office" bookkeeping function can allow the business owner to free up considerable time and resources and focus on the core growth activities of the business. Delegating your accounting function to our trained bookkeepers results in an accurate, organized, consistent and cost effective solution to the ongoing accounting needs of the business. Especially in situations where a business can only justify a part-time bookkeeper, finding and employing such a person with the appropriate skill set may be difficult. Outsource accounting can provide an alternative to an in-house employed bookkeeper.

Your business can also then benefit from the skills and experience of a CPA providing the function of a Controller on a periodic basis to monitor the financial operations of your company, suggest recommendations or provide analysis on special project situations which exceed the role and skills of a bookkeeper. This resource is available on an as-needed basis to the business owner.

Since every business is different, so is the outsource accounting model used. Generally, though, it first involves the setup of the company’s general ledger and related records. The software application modules to be used will be dependent on the needs of the business and the type of transactions to be processed. On a regularly scheduled basis, we process your transactions and prepare all the necessary output documents such as checks, customer invoices, statements etc. Concurrently, we are updating all your general ledger, receivables, payables, payroll, inventory and fixed asset records as well as keeping secure backups of your company data.

On a regular basis, your bank statements are reconciled and any other adjustments recorded. Laser printed financial statements, aged accounts receivable and other reports all customized to your specific needs are prepared to help you better manage your business.

Outsource accounting is cost effective

Employing a bookkeeper in-house can be expensive. The cost is not just comprised of salary, but the other direct costs such as employer payroll taxes, workers compensation, medical insurance, retirement plans and other benefits. Then, there are employee vacation and sick days to consider as well. There is also the savings in both time and money involved to place classified ads, interview, screen, test and train the employee. Additionally, there can be cost savings for the business in not having to invest in or upgrade accounting software and hardware.

Outsource accounting maintains the privacy of your company financial information

Especially in a small office environment with few employees and little segregation of duties it can be difficult for the business owner to keep the financial information of his or her business confidential from employees who should not have access to certain information or records. Outsourcing the bookkeeping function solves many of these confidentially and lack of segregation of duties risks while at the same time keeping the business owner in complete control of personally signing all checks and authorizing all transactions.

Outsourcing results in faster year-end accounting and tax preparation completion

Since the general ledger and other records are being updated continuously throughout the year, the year-end work is significantly reduced resulting in faster turn around time in preparing tax returns and various year end financial reports.

Outsourced accounting provides your company with a professional result

All documents and reports are laser printed allowing you to present the best possible company image. In essence, even a small company can gain the same benefits of accounting sophistication as a large company. Using a variety of software applications we have the capability to generate virtually any customized financial statement or report imaginable. This includes budget and prior period/year comparisons, departmentalized and/or location reporting, cash flow and trend reporting, just to name a few. Finally, our system and service offers flexibility to grow and adapt with your business over time.

Typical combination of documents and reports may include:

Preparation of checks; customer invoices & statements; monthly bank reconciliations; general ledger; fixed asset reporting & depreciation; aged receivables & payables; integration with outsourced payroll services; customized financial reporting.

Service is delivered by experienced accounting and tax professionals

Our trained accounting staff processes your work under the direction of CPA's. This allows us to provide the highest quality of service through the depth and breadth of knowledge you would expect of a CPA firm. Additionally, the business owner then has access to the higher levels of service expertise in management consulting, taxation, and financial reporting and analysis provided by individuals with CPA credentials whenever needed.

To get started

Contact our firm if you wish to set up an appointment for an initial meeting which is free of charge. A needs assessment can be conducted to determine the current status of your business accounting system and formulate an appropriate solution which is compatible with your business and objectives.