Tuesday, December 12, 2017

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Outsourced Accounting

Is your business an emerging, small, medium, or large company with variable workloads? Does your business require a bookkeeper, controller, or Chief Financial Officer on a part-time basis?

If you answered yes to any of the above questions, complete outsourced accounting may be ideal for you. Whether you are an emerging, small, medium, or large company with variable workloads, outsourced accounting services can be customized to suit your particular business needs. It's no secret that the function of financial management, as well as the role of the financial manager is critical to the prospects of success for emerging and established companies.

What is inclusive of Outsourced Accounting Services?

Our Accounting Services are a cost effective means of outsourcing a company's financial services to qualified experts. Our services are customizable to your individual company needs. We are able to provide services that are typically performed by a full-time accountant, controller, or Chief Financial Officer. Based on your business needs, we can provide part-time, full-time, interim, or as-needed basis services to emerging, small, medium, or large companies with significant cash flow, who are not quite ready to hire their own full-time accountant, controller, or Chief Financial Officer. Companies aspiring to increase cash flow, sales revenue, and profits while maximizing shareholder value, may find our outsourced accounting services to be the perfect solution.

Our outsourced accounting services play a pivotal role in ensuring clients are employing the most cost effective strategies and business processes. After a thorough analysis of your company, an expert will be able to assess whether you would benefit from part-time, full-time, interim, or as-needed basis services.

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Full-time Outsourced Accountant: 1st Level: Day-to-Day

Running your own business is no easy task. There are non-stop distractions, delays, and unexpected events that are constantly pulling you away from focusing on the core competencies of your business. Maintaining your books may often seem tedious and time consuming. Handling the everyday challenges involved in running your own business, it may no longer seem economical to continue to be distracted by the tedious duties of administering day-to-day activities.

As your personal accountant, we offer a myriad of bookkeeping services that may be beneficial for you, including:

  • Bookkeeping
  • Perform Accounts Receivable on a day-to-day basis
  • Perform Accounts Payable on a day-to-day basis
  • Payroll
  • Cash Management
  • Offer suggestions for safeguarding of assets
  • Negotiate lines of credit/covenants
  • Recognize weaknesses in internal controls
  • Recognize efficiency and effectiveness of accounting staff
  • Implement best practices
  • Request and/or perform account analysis
  • Train accounting personnel
  • Develop operating budgets and forecast
  • Sign off on checks
  • Prepare financial statements
  • Perform bank reconciliations
  • Ensure adequacy of account balances
  • Generate a statement of financial position
  • Generate a profit and loss statement
  • Provide consultations on an as-needed basis

 

Part-Time: 2nd Level: Weekly

  • Available for consultation
  • Perform Accounts Receivable on a weekly basis
  • Perform Accounts Payable on a weekly basis
  • Payroll
  • Cash Management
  • Offer suggestions for safeguarding of assets
  • Negotiate lines of credit/covenants
  • Recognize weaknesses in internal controls
  • Recognize efficiency and effectiveness of accounting staff

 

  • Implement best practices
  • Request and/or perform account analysis
  • Review journal entries
  • Compare budget to actual costs
  • Prepare tax calculations
  • Train accounting personnel
  • Develop operating budgets and forecast
  • Verify/validate financial statements
  • Perform routine bank reconciliations

 

 Interim: 3rd Level: Monthly

  • Available for consultation
  • Bookkeeping on a monthly basis
  • Offer suggestions for safeguarding of assets
  • Recognize weaknesses in internal controls
  • Recognize efficiency and effectiveness of accounting staff
  • Implement best practices
  • Request and/or perform account analysis

 

  • Review journal entries
  • Compare budget to actual costs
  • Prepare tax calculations
  • Train accounting personnel
  • Develop operating budgets and forecast
  • Perform routine bank reconciliations

 

 Interim: 4th Level: Write-ups

  • Work will be performed on an as-needed basis
  • Available for consultation
  • Bookkeeping
  • Verify/validate faithful representation of financial statements
  • Activities/tasks will be received via e-mail, fax, or mail

 

Is Outsourced Accounting right for me?

Complete outsourced accounting services are ideal for any company or individual that is seeking the vision and expertise of a lead financial strategist, but not on a full-time basis. Through specialization, deliberation, and lucrative measures, the role of your traditional staff accountant, controller, or Chief Financial Officer can be replaced with a customized plan to help you gain financial control over your business.

Why pursue outsourced accounting sevices?

A company may want to pursue outsourced accounting services for a variety of different reasons, including obtaining an external perspective, or for cost-saving purposes. Our outsourced accounting services are personal, reliable, and confidential, as well as timely, accurate, and customized to meet each client's needs. It's no secret that profitability stems from keeping costs low. Sometimes, companies tend to lose control of their costs as they focus more on sales and operations. Outsourcing financial functions not only improve a company's internal controls, but also frees up internal resources and allows companies to focus on the core competencies of the business.

Should you have any questions as to which level of accounting service may be right for you, please give us a call. We will be happy to assist you and answer any questions you may have.

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