Some problems are good problems to have. For example, when your company experiences growth, you may find that your admin staff has trouble keeping up with accounts payable. Hitting your revenue target may mean that you need to register for GST.
But no matter what, good problems are still problems, and need to be solved.
Will you hire accounting staff and set up an in-house accounting department? Or consider outsourced accounting as a way to meet the challenge?
Here are some of the advantages of outsourcing your accounting that we see in our day-to-day practice:
- Cost: Granted, hiring an additional accounting staff may give you more hours for your dollars. But by applying best practices, we can get your accounts taken care of in much less time.
- Faster: And being faster isn’t just a cost advantage. It means you get quicker insight into how your business is performing.
- Tax and legal knowledge: Fixing errors, verifying your books and filing reports may seem mundane. But while we’re at it, we often spot opportunities for and can alert you of potential compliance issues before it’s too late.
Is there a flipside to outsourcing? Certainly. You need to trust the service provider. We are well aware that we need to earn and maintain your trust before you can opt to let us take care of your accounting needs with peace of mind.
Would you like to explore outsourcing your accounting to us? Get in touch to know more.