In today's competitive business environment, small businesses are constantly seeking ways to improve efficiency, reduce costs, and maintain a competitive edge.
One of the primary reasons why small businesses might choose to outsource these functions is the challenge of hiring and retaining qualified accounting staff. Small businesses often struggle to attract and keep skilled accountants due to limited resources, competitive salaries, and benefits. As a result, these businesses may find it more cost-efficient to outsource these functions to third-party service providers who specialize in these areas.
Another reason is that some accounting functions, such as payroll and general ledger accounting, may be beyond the training and capacity of the existing staff. This could be due to the complexity of these tasks, the need for specialized knowledge and skills, or simply the time and effort required. Outsourcing these tasks can help ensure that they are performed correctly and efficiently, reducing the risk of errors and non-compliance with regulations.
Furthermore, outsourcing can help maintain the confidentiality of sensitive financial and payroll records. By entrusting these tasks to a third-party service provider, businesses can limit the access of internal employees to these sensitive data, thereby enhancing their security and privacy.
To help small businesses address these challenges, we offer a range of accounting and payroll services:
Full-Service Bookkeeping: We provide comprehensive bookkeeping services tailored to your specific needs. Our team can work either remotely or onsite at your premises, and we can develop a reporting system that delivers the information you need to run your business effectively. Our services also include preparation of all payroll and sales tax returns and advising you on the amounts and due dates of payroll tax deposits.
Temporary Bookkeeping/Accounting: We offer temporary bookkeeping and accounting support to help cover unscheduled absences of your accounting staff. Our team can step in at short notice to fill any unexpected vacancies, ensuring that your business operations continue smoothly.
Detailed "How To" Procedures: We can develop detailed accounting and bookkeeping procedures for your team. This helps ensure that your accounting system is well-documented and easily understood, providing you and your managers with confidence when training new staff.
Controllership Services: Our team can visit your offices regularly or as needed to perform routine accounting tasks, including preparation of management reports, payroll quarterly reports, and bank reconciliations. We can also provide advisory services regarding the management of your company's assets and any other services your business may require.
In conclusion, outsourcing some administrative functions can provide small businesses with a cost-effective, efficient, and secure solution to their accounting and payroll needs. By leveraging our professional services, businesses can focus more on their core operations and strategic initiatives, while ensuring that their financial affairs are in good hands.