Outsourcing Accounting for Your Small Business

Sometimes having an in-house accountant is not always possible. When it comes to accounting for small businesses, there are specialists ready and willing to assist individuals in keeping timely and accurate financial information in order for the business manager and owner to continue running the business successfully. By outsourcing accounting needs and having a certified accountant, a small business can have access to a reliable accounting company that is capable of handling the business’ accounting needs using cloud-based technology, offering key service benefits, as well as strategic benefits to assist in increasing the success of the business.

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Business owners and managers may not always have access to or space for an in-house accountant. This leads to the outsourcing of all of their accounting needs. By choosing a reliable Alpharetta accounting company, the business owner and manager will have timely and accurate financial information they require whether it is services for a start-up, a small, or a mature business. No matter the scenario, outsourcing accounting needs can be not only affordable but comprehensive as well. Outsourcing accounting for small business also gives the business owner and manager real-time financial information that has been customized to the business and its needs through an easy-to-use and less time consuming system than traditional systems. Even if there are in-house accountants, using an accounting company can assist the business in ways the in-house accountant may not be capable of.

The accounting company can train and work with the business’ current accountant to keep them up to date and current on the accounting systems the business is using as well as helps the accountant help the company by teaching the accountant to keep organized and accurate financial information. The cloud-based system used allows all financial information to be accessed in real-time and can be used for a variety of organizations: service-based companies (advertising, digital media, technology, and health care), franchisors and franchisees, business improvement districts, family offices, nonprofit organizations, and real estate. This allows for a large number of business owners and managers to access accounting for small businesses as well as key service benefits that are provided.

The benefit of outsourcing accounting for small businesses is that the business owner and manager also gain access to key service benefits they may not otherwise have access to. The business will receive: financial statements tailored to industry-specific standards; accurate billings and accounts receivable, thereby enhancing cash collection management; accounts payable bills; cash flow analysis and management; payroll and related tax filing; and account reconciliations and general ledger maintenance. Other services available to the business include strategic benefits such as operational efficiency that includes financial budgeting and reports created for the purpose of allowing the business owner and manager to make future business decisions. It also offers business analysis that is essentially a customized dashboard view of financial information and management reports made to the business’ specifications. The accounting company also offers financial integrity that enables the business to be audit-ready for when the bank or other type of third-party financing requires it.