One of the fundamental principles of running a successful business is maximizing profits while minimizing costs. Another important idea is that accounting is the very foundation that a successful business is built upon. Combining these two concepts is the idea of outsourced accounting. Book keeping and payroll are no longer simple tasks that can be given out to other unqualified employees. However, hiring a full time accountant on a staff is extremely costly and can directly impact the bottom line. Therefore, by going with outsourced accounting, a business is not only building a strong financial foundation, but also making a long term cost saving decision.
Main Style Flooring
– Tamara Goff, Owner
What Can Outsourced Accounting Services Do For Your Company?
When a business chooses to go with our Outsourced Accounting Services, they are able to receive as much or as little financial service that they need. These include:
The accounting firm comes in and make sure that all accounting information is accurate and does not need to be modified for compliance. This includes looking for potential misstated figures, assessing transaction procedures and investigating transactions for both accuracy and impact on financial results
The accounting firm takes all of the financial data provided by a company and compiles it into a financial statement.
The accounting firm takes all of the companies financial documents, such as checks, invoices, expense reports, etc, and reconciles them into a bank report. This is one of the most time intensive parts of an accountants job and where having an outsourced accounting firm really makes a positive impact on a companies bottom line.
- Financial Reporting:
When a business needs to make a report to the government, upper management, investors or other interested parties, an accounting firm can put together important information such as balance sheets, conference call info and other financial records into a readable digest.
- Annual Financial Forecasts:
This is a simple yearly budget that is compiled for company or investor use. It can show budget projections for the next year, cash flow and expenditure, and can be used to analyze the health of the overall business.
- Ongoing Bookkeeping Services:
This includes payroll processing, balancing the checkbook and other day to day operations.
- Quick Books Set-up and Training:
Having people in the office understanding the basics of book keeping is a smart way to maintain control of the business’s finances. Indianapolis Outsourced Accounting can help train any individual in the company in how to set up and maintain Quick Books.
Accounting can be a complex maze that can bog a business down with time intensive paperwork and labor. Why not take that burden off of the companies shoulder and put it in the hands of the experts. If you have any questions, feel free to contact us today by giving Lisa Rollings a call at 317.782.3070. She will be happy to answer any questions you have about our company and services.