Blog Archives

2/23/2020

The Pros and Cons of Having a Bookkeeping Service Contract

Business owners looking to outsource ongoing bookkeeping and accounting functions may not be prepared to sign a contract. However, in an increasingly litigious culture, contracts are becoming more prevalent across all professional services, especially in B2B settings.

While freelance bookkeepers may or may not require a signed contract to perform their duties, a certified accountant or an accounting firm likely will.

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2/13/2020

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8 Types of Internal Control Accounting Systems

Business leaders understand it is essential to have accurate financial data to drive operations and measure success. However, without the proper controls in place errors, fraud, and other issues can occur, hindering operational efficiency and growth. While some small business owners assume internal control systems are only designed for larger organizations, these functions are crucial for companies of all sizes in all industries.

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2/10/2020

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What Should You Expect in an Accounting Engagement Letter?

When business owners hire third-party accounting firms to manage their finances, they may be provided with an engagement letter. This type of document is new to many business owners, especially those that are outsourcing financial functions for the first time.

Essentially, an accounting engagement letter is an agreement to provide services to a client. The agreement describes the business relationship and sets expectations for both parties in a way that is less formal than a traditional contract.

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2/9/2020

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Which Bookkeeping Tasks do Companies Outsource?

Business owners frequently wrestle with determining which activities should be outsourced to a freelance bookkeeper or accounting company. Budgetary restrictions can limit a company’s ability to outsource financial tasks, as can concerns over delegating duties. In these instances, it often makes sense to offload tasks that will have the greatest ROI first, and then include others later as means allow.

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2/3/2020

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Which Accounting Services Should You Outsource?

Outsourcing accounting functions is a cost-effective solution for SMBs (small-to-medium-sized businesses) because it provides necessary financial services without the steep costs associated with hiring in-house employees.

Recruiting, onboarding, and benefits expenses inflate the operational costs associated with acquiring and retaining employees, making outsourcing roles an appealing proposition.

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In Pursuit of Profit

The Pros and Cons of Having a Bookkeeping Service Contract

8 Types of Internal Control Accounting Systems

What Should You Expect in an Accounting Engagement Letter?

Which Bookkeeping Tasks do Companies Outsource?

Which Accounting Services Should You Outsource?

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