In small and medium-sized accounting companies, outsourcing accounting services becomes a profitable trend. The outsourced accounting services have many advantages that are understood by the accounting firms and therefore use outsourced companies to improve their accounting activities.
At CapActix, we strive for outsourced virtual accounting services in many phases, as this approach gives the company flexibility and scalability. Experts recommend foreign accounting services for CPA companies, but some CPAs are still reluctant to use these services because they think:
- It is difficult to control during outsourcing
- Foreign accounting services can easily be manipulated
- Outsourced services are not available
- Letting go can be a big problem
- All of these reasons are excuses, as outsourcing accounting services is a very safe way to increase your productivity. If you still believe in all of these nonsensical myths, read the reasons why you are outsourcing accounting.
10 reasons for outsourcing accounting services
- # 1. To save your resources
It is a difficult task for small CPA companies to keep to their strict budget and offer their customers high quality services. Small businesses cannot hire professional and experienced employees because they cannot pay their salaries. However, if they do not offer high quality services to their customers, they cannot build a strong customer base. It is therefore a difficult situation for small businesses, but delegating their accounts can save money because outsourced companies pay less than trained staff.
Reason – to offer high quality professional services within your budget.
- # 2. Use accounting technology.
Today’s accounting industry is all about the latest technology and software. Without the help of the latest accounting software, CPA companies cannot offer their customers error-free and efficient services. However, it is very difficult for a new accounting firm to purchase the latest accounting software and offer its customers high quality virtual accounting services. To update software, companies have to make large investments and even train their employees. However, outsourced accounting staff already have access to the latest accounting software.
Reason – providing a flawless automated accounting function.
- # 3. To save time
Accounting is one of the most time-consuming accounting processes that requires optimal commitment and skill. The accounting industry has to use the majority of its employees to create their customers’ books, as this is the basis for accounting. But it takes a lot of time for accountants who can use it to grow their business. Foreign accounting services for CPA companies are therefore a good advantage as they can use the special skills of their employees for important management tasks.
Reason – use expert services to increase business efficiency.
- # 4. Have skills on your side
We consider accounting to be one of the basic steps in all other accounting processes. You should therefore use the professional services to create books from your customers so that all other accounting processes are not affected by the poor quality of the books. By having an outsourcing business in your hands, you can keep your professional staff on your side at all times and ensure that you offer high quality services to your customers.
Reason – to always have professional accountants with you….
- # 5. Be more focused
In small accounting firms, all work is usually done by a small group of professionals, which makes it difficult for them to concentrate on improving and expanding their business – when they stack books. By delegating accounting to outsourcing businesses, you can focus your attention on growing your business, paying attention to your clients’ needs and planning marketing strategies to attract new customers.
Reason – stay focused and use internal resources to grow the business.
- # 6. Reduce mistakes
If you are an accountant, you need to know the problem that arose because of an accounting error. For this reason, accountants must review their entries several times to ensure that nothing is out of order. But it is also a time-consuming task and saves a lot of time for your team. Outsourcing services mean you never have to worry again, as outsourced companies fully review and re-review books before submitting.
Reason – To provide error-free services to your customers.
- # 7. Reduce Deception
Fraud is an unfortunate result for many small and medium-sized businesses with one person at the top of the account. This is because it is easy to manipulate the books or to leave wrong issues unnoticed for months or even years. However, if you outsource, accountants have no direct interest in your business, so they do not waste.
Reason – To exclude any possibility of fraud and partisan behavior.
- # 8. Reduce overhead
If you have hired an in-house accounting staff to look after your books, you don’t just have to pay their salary. You must pay for lunch, the tabletop, the computer, accounting software and other work benefits in accordance with the applicable rules of service. This increases the added burden on your business and increases your overhead. However, if you have hired an outsourced company, you only have to pay an agreed amount at the fixed rate.
Reason – to make your business profitable by lowering additional costs.
- # 9. Reduce stress during printing time
For accounting firms, tax season and end-of-year services are one of the two most important issues when they need as much help as possible. This time of year is of great importance to accounting firms as they have to close their clients’ books and prepare their tax reports. To reduce the stress of internal employees, the use of outsourced accounting services is a very good option because if your employees are overworked, they cannot provide high quality services.
Reason – To ensure smooth business operations during tax preparation and end-of-year services.
- # 10. Help in an emergency
If your internal accountant feels sick and unable to complete the job within the given time, it will affect your reputation. Due to the unavailability of your one employee, you cannot stop the entire company operations and you cannot appoint a new employee for several days. In such emergencies, you can call outsourced companies and temporarily hire their services.
Reason – to handle emergencies smoothly.
Thus, there are various reasons for CPAs to outsource accounting services and make your business profitable. All you have to do is use the outsourced accounting correctly and you will immediately receive focused, affordable, professional and high quality services.