Tom Peters who Wrote "In Search of Excellence" once said, "Do what you do best and outsource the rest."
There are many publicized advantages to outsourcing certain aspects of a business. These decisions are formally called make versus buy decisions. That is, is it better to control this aspect of the business or let someone else do it for you? The goal of a make versus buy decision is to maximize business efficiency and profits.
Outsourcing (that is buying) your accounting functions provides the following advantages:
1) Not having to spend the time learning accounting and generally accepted accounting principles. 2) Not having to hire, train, and manage accounting personnel. This allows you to focus your efforts on your core business. As an owner, do you want to spend time managing accounting personnel or would you rather generate revenue? What is the value of your time? The more you manage accounting tasks, the less time you have increasing revenue. 3) Not having to increase expenses associated with accounting personnel such as office space, desks, computers, accounting software, phones, training, insurance and taxes. This helps reduce substantial cost and leaves all office space and desks for use in sales or operations functions.
4) No employee turnover to worry about. Employee turnover and retraining are extremely wasteful.
5) Better records organization and storage. This means your accounting work will be ready for the C.P.A. when tax time comes around. This also means reduced C.P.A. costs.
6) PRIVACY: No one but you knows the inflows and outflows of capital and the company's profitability. Why should any one that does not take on the risk of ownership know how much you make?
7) You can purchase only one copy of QuickBooks should you want to review raw data and reports. You can also not own the software at all and let us provide you with reports as needed to review financial performance. We can also provide raw data reports and customized reports as needed.
8) As your accounting management is performed outside of your company, you will have the ability to spot any leaks in your system. These leaks could be anything from theft to areas needing more management focus to control costs. We want to help you account for every dollar all the time.
9) Professionalism: We take our mission seriously and only hire professional QuickBooks associates.
10) Managing your cash flow: We can process your accounting according to your needs. This means that we can slow down processing should you need additional cash for other expenditures during certain months (e.g. months that have three payroll processing cycles.) We can also shift our work should some critical accounting requirement must be met; anything from tax processing to bank reporting requirements. Either way, we can be flexible on your processing and payment times; something that cannot happen when you have processors on payroll.
11) Government Regulation: There are many government regulations that are based on the number of employees that your company maintains on its payroll. By outsourcing your accounting, you are able to lower your staffing levels and keep them below the trigger point for many of these regulations.