by Karen Stern
It’s a new year, and as a business owner, you likely have several goals for 2021. Your goals might include increasing revenue or preparing for an acquisition or sale. As your business reaches these milestones, you will likely find that your time is better spent building the core business rather than overseeing day-to-day accounting. A lack of back-office support or simply needing to free up your team’s time could be barriers to these milestones.
Outsourcing your company’s accounting as you work toward your 2021 goals can offer significant benefits.
1. You can develop a seamless virtual experience as you continue to navigate an evolving work environment.
2. Your internal accounting staff can troubleshoot larger issues.
3. You can analyze accurate data rather than preparing it, thereby yielding more informed decision making.
4. If your company is growing quickly through acquisitions, you can transition those businesses more seamlessly through outsourced day-to-day bookkeeping until the appropriate infrastructure is developed to handle the rapid growth.
5. When back-office support is lacking, you can free up 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 may take a vacation or unplanned hiatus, or simply be unable to handle the necessarily virtual environment in which many small businesses find themselves. Consider an outsourced accounting resource as a means of providing a reliable, cost-effective solution that gives an objective perspective to your company’s internal controls, safeguards, and processes.
For more information on how outsourcing your accounting can help your business, contact Karen Stern, Partner in Charge, Entrepreneurial Services Group, at 314.983.1204 or kstern@bswllc.com.
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 3 years 337 days ago