I am a firm believer that small businesses are best served with an outsourced bookkeeping and accounting service. This should be one of the first things business owners do upon opening the business!
Having an outsourced accountant helps increase privacy. I’ve seen some small businesses fail to do well because their in house office manager was discussing business finances with personnel other than the business owner. When you outsource, you have distance between staff and your accountant, which makes for easier financial discussions.
Do you know accounting and bookkeeping backwards and forwards? No? Then having to research how to complete what is (to an accountant) a simple transaction can be time consuming. Best leave it to the experts. You will even be able to retain the best and most qualified individuals. These are the people who study accounting year round, in order to bring the best services to their clients. Why waste time when you can have the best – and at a fraction of the cost?
The Association of Certified Fraud Examiners determined that the most likely victims of fraud are privately held businesses with less than 100 employees – and that the median amount embezzled is a whopping $147,000! Can you afford to lose that much? Accounting and bookkeeping professionals know the metrics and KPI to look for which show abnormal activity. Not only that, but knowing that multiple professionals are looking at your books can, itself, reduce even the temptation of fraudulent activity. We can help you implement fraud controls and watch for fraud signs.
As your business grows, your accounting needs grow as well. Using an outsourced firm like Bookkeeping Made Simple enables you to have the same accounting tools as the big firms – specialists in various departments, for example – that can then grow, change, and adapt as your business changes. When you have a whole department, your accounting professionals are then double-checking each others’ work. We can then present you with loopholes and exemptions to help you protect the wealth you work so hard to build.
Interested? Give us a test run. Call Bookkeeping Made Simple at 801-692-0032 today to discuss your needs, or check out our website at http://MySimpleBookkeeping.com.