by Karen Stern
As business milestones are reached, many small-business owners find that their time is better spent building their core business rather than overseeing day-to-day accounting. These milestones include increased revenue, preparing for an acquisition or a sale, lack of back-office support, or simply needing to free up your team’s time.
Outsourcing your accounting in the face of these milestones can create significant benefits, including:
1. Your internal accounting staff can troubleshoot larger issues.
2. As a business owner, you can analyze accurate data rather than preparing it, creating more informed decision making.
3. If your company is growing quickly through acquisitions, those businesses can be transitioned more seamlessly through outsourced day-to-day bookkeeping until the appropriate infrastructure is built up to handle the quick growth.
4. When back-office support is lacking, outsourced accounting frees up a business owner’s time thanks to support in managing cash, accounts receivable and payable, regulatory compliance, and taxes.
Even in the absence of a major business milestone, an internal bookkeeper or accounting professional will take a vacation or potentially have an unplanned hiatus. Without a cross-trained team member, a business should consider an outsourced accounting resource to provide a reliable, cost-effective solution that gives an objective perspective on a company’s internal controls, safeguards and processes.
For more information on how outsourcing your accounting can help your business, contact Karen Stern.
Karen Stern, CPA, (kstern@bswllc.com), partner in charge, Brown Smith Wallace Entrepreneurial Services Group, provides tax and accounting services for companies ranging from start-ups to $20 million in revenue.
Submitted 7 years 24 days ago