Outsourced Accounting Services

Outsourcing- Definition:               Obtain goods or services from an outside supplier in place of an internal source.

American companies embrace innovation almost as much as they embrace outsourcing. If you think about it objectively there are very few manufacturing companies that obtain goods from an internal source, in the truest sense.

So why would you consider outsourced accounting services:

  1. Save time and money- Time and Money, if only we had more of each. If you only had more time or money (or both), most of our problems would go away. How many of your vendors are offering you time and money savings? Outsourced accounting services can offer both.
  2. Real time access to accurate data- Large companies agree that having access to accurate reports is invaluable to decision makers. So why would small business be any different? If anything this information may be more important to Presidents, CEOs and CFOs.
  3. Your documents/files stored securely- If you ask any client that has had to recreate lost data due to a computer crash, they will tell you what it is worth to have multiple layers of backups available in case you lose that data.
  4. Eliminating the knowledge power holder- Most small to mid-sized businesses have gone through this transition. They had a bookkeeper/controller employee who knows how all the systems come together. What happens when you need to replace this employee? Or worse, what happens if they quit expectantly? Sometimes an in-house knowledge base is fine, but how do you deal with one person who runs everything, and maybe knows a little too much about employee compensation.
  5. Other benefits- When you outsource, inherently you are going to avoid many concerns associated with hiring employees. Benefits like: avoiding sick-time calculations, unemployment claims and miscellaneous employee baggage. Usually our business owners also find that due to the fact that they do not have to worry about execution of specific objectives they can focus their time executing their own business growth objectives. This re-allocation of time can be very beneficial for business leaders (and their investors).

If you would like more information about outsourced accounting services, please reach out to us. We offer many different service levels for many different sizes of clients. We tailor our accounting services to your particular business needs.

Taking the Road Less Traveled

If you don’t like regulations you might as well not show up to the world of skilled trades.

Of course you have to hire good employees, like any other business. But, most businesses don’t have to worry about being a good year away from things like a Worker’s Compensation Audit where they hit you with a $20,000 to 100,000 audit adjustment…Let alone special considerations like:

Bonding, special financial reports requests by banks for equipment loans, or to secure that large construction bid. The list goes on and on. So if you find yourself asking why you got into this business. Maybe you are asking the wrong question.

Maybe you should be asking, “Who can help me navigate these issues so I can focus on my company, expanding my company and getting that next bid in on time for once?”

Skilled trades are important for this country but too many companies fail while trying to navigate the road on their own. Don’t take the road alone, come to a company that understands your issues and can have a real conversation about more than just a tax return.

Leap of Faith

So You Want to Take the Leap of Faith?

As a small business adviser I see many business owners that truly do not understand the time commitment that is necessary to invest to make their dream a reality (or underestimate the size of the endeavor).

I encourage small business owners to stop and take the time to speak with another business owner in their industry. This discussion is worth its weight in gold, because it helps the new owner(s) to understand what has to go into their project first hand, before they take their leap of faith.

I am almost always optimistic when it comes to a new business venture, after all I had to take my own leap of faith.

But, ultimately it is important to have a business adviser or mentor that you can go to, through thick and thin. Not a friend, but someone that is going to tell you when you are heading in the wrong direction. If you don’t have that person you have to find them for your business to succeed.

Also, you have to be realistic in your endeavor and find people that are smarter than you. Yes I said it, you might not be good at everything. This is a harsh reality. But the sooner you come to terms with the fact that you are not the best ever at everything, the sooner you will find smart people that can take care of those things for you.