Top 10 Benefits of Outsourcing Bookkeeping
1. Cost Savings:
Our flat weekly or monthly fees can be flexible to adjust with your business growth or slowdown periods. Since we are not employees of your business, you immediately eliminate the added costs of payroll taxes, workman’s compensation insurance, unemployment insurance, health insurance, 401K or other retirement plans, paid vacation time, paid sick leave and cost of living increases.
2. No More Employee Turnover:
We are committed to servicing our clients with integrity, quality and accuracy which means that it is not “just another job” for us. It is our business, our reputation, and our responsibility to give you dependable service for as long as you remain a client. We have worked hard to develop a systematic method to deliver only the best service possible. With employee turnover, there is always a decline in productivity and usually in overall morale. Your business can be more efficient with the stability and longevity we offer.
3. Availability:
Our regular working hours are 9:00AM to 5:00PM Monday through Friday, but we do make appointments for your convenience. Should any emergency arise that may need our involvement during a weekend, early morning or late evening, we provide you with a number to reach us right away. You also eliminate the frustrations of absences due to vacation time, sick time and personal time as we always have someone available to service your account.
4. Privacy Protection:
By having the financial information on our computer systems away from your business location, you protect your financial data from being accessed by inquisitive employees or other individuals as well as the risk of corrupted data due to a system crash or other disaster. Hard copy backup records and files are also stored safely if you either do not have the storage available or do not choose to keep them on your premises. However, you will still have access at all times to view any information on your account and will be provided with details and reports immediately upon your request.
5. Equipment Maintenance:
We bear the cost of upgrading our computer systems and software as well as purchasing annual payroll tax updates so that you don’t have to worry about upgrading your own system. We also back up all files daily and archive all your data from previous years for informational purposes, should the need arise.
6. Customer and Vendor Assistance:
We have the ability to closely and accurately monitor your receivables in order to contact and notify any customers that have outstanding balances with you when they become past due. You can also have the freedom to direct your vendors to us when needing to fill in credit applications, review payment history, or to arrange special payment terms in times of tight cash flow. The time you spend in running your business will be more productive when you aren’t consistently interrupted by these issues.
7. Reviewing Reports:
We are impartial in our observations of your financial picture and will observe and discuss issues which an employee might hesitate to do. We can also help setup and monitor a budget to properly track and assess different areas of your business you may feel need special attention. We also help business owners understand the meaning of the reports we provide as well as the proof to back up how each number was achieved. This is crucial for planning, operating and growing your business. Your CPA will also be kept up to date monthly to better prepare and advise you regarding any tax issues.
8. Networking:
Our network with other professionals in all types of fields is a valuable asset for our clients. We often connect clients with others who can assist them in specific tax issues, legal issues, marketing, financial planning, and other areas where questions may arise beyond our own expertise.
9. Taxes and Business Regulations:
In the payroll process there are many tax filing requirements for both the state and federal governments. The timely paying of taxes is crucial to avoid penalties and interest. We work with you to help you meet these requirements and avoid pitfalls. We assist businesses in filing for new tax numbers and educate owners in their new responsibilities regarding taxes. We also assist with filing your annual business entity report and annual business census. We also assist in any tax audits that may occur including your annual workman’s comp. audit. We recommend that our clients provide an employee handbook to their employees and can assist you in the development of the same.
10. Industry Specific Expertise:
We are experienced in and able to provide you with information-specific reports for your industry including: tracking commissions, multiple location tracking/separating, job costing and phase tracking, percentage based accounting for builders, and properly monitoring and documenting for freight/cargo loads. We have closely worked with a wide array of retail, service and manufacturing clients and have over 50 years of experience between us. It is precisely because of our experience in such diverse businesses that we can offer you customized reports and give you the information you find most beneficial to grow and operate your business most efficiently.
© 2014 Von Ins Bookkeeping Service, Inc.