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Outsource Your Accounting

jillian dearing_80
By Jillian Dearing
Thursday, October 27 2005

A great deal of my background is in accounting and I am very passionate about the work that I do for my clients. It is my belief that business owners need to focus on what they do best, and leave the other work to professionals in their respective fields.

Every business that wishes to succeed financially must have concern for the accuracy of their accounting.. The survival rate of a company is directly correlated to the timeliness and accuracy of how well the company keeps its accounting records.

As a business owner, you have a few options. You can work all day and handle your own accounting at night and on weekends, you can hire a bookkeeper to come in to your office with the understanding that bookkeepers have little expertise in the areas of cost accounting, fixed assets, taxation issues, etc., you can hire a CPA down the street who charges on average $85 per hour for bookkeeping services and around $200 per hour for CPA fees, or you can outsource your accounting to a reliable company.

I am a true believer in outsourcing not only accounting, but many other tasks. Look at it this way — when your car breaks down, you don´t spend hours upon end trying to fix something you know nothing about. You have it towed to the shop where the professionals can do the work.

A couple of days ago I was working at my computer and went to download something and my speakers suddenly stopped working. I, being the stubborn woman that I am, spent FIVE hours (seriously) trying to troubleshoot the problem myself. Finally, I broke down and called the support center and they walked me through a process that took less than twenty minutes!

Why on earth do we torture ourselves when there are reliable resources out there to help us ease the burden? I believe in the area of accounting, generally people are afraid to let go. Perhaps they have been embezzled by a previous bookkeeper or maybe they have gone through many many bookkeepers who have turned their records into garbage.

When you outsource your accounting, in particular, you reap so many valuable benefits. There are no salaries to pay, no payroll taxes or workers´ compensation, no medical insurance, retirement plans, paid vacations, sick leave, no interviews to conduct, no training involved"?¦the benefits are endless.

There are two outsourced accounting firms in the United States that hire employees in the United States only, who from personal experience, I highly recommend. One is OSI Business Services, http://www.outsi.com and the other is Balance Your Books http://www.balanceyourbooks.com. If you will send me an email, I will personally see to it that you receive a quote tailored to your specific business needs.

These two companies are the only ones I have found in the industry who provide each and every client with not only a certified bookkeeper, but also a CPA/Manager. Their rates are extremely competitive and the service is phenomenal. I can guarantee that you will never hire a bookkeeper in-house who will be able to provide the services that these companies do.

There are companies that will insist they need a person in their office to answer the telephones, make coffee, do filing, etc. I will not dispute that it is an important attribute in a company to have someone present instead of an answering service. However, my question to you would be why would you pay accountant rates to someone who answers the telephone, and do you really believe that a receptionist can do the job of an accountant?

Please feel free to send me your questions on outsourcing issues, in particular accounting outsourcing. I will address other outsourced firms in future articles.

"You must be the change you want to see in the world." ~Mahatma Gandhi


Latest Comments

Great Points Jillian. Two of the first things to get outsourced in our business was the accounting and bookkeeping. We have a local bookkeeper who does the dreadfully (at least to us) mundane task of balancing the bank accounts and we have a local accountant (CPA) who prepares the tax and financial reports once per quarter. In both cases, they work via Email and fax even though we are all located just a few miles apart.

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Comment By: Pml Worldwide  |  2/13/06 at 12:00 AM Outsource Your Accounting

I totally agree with what you're saying. I wish more people felt this way and took the time to express themselves. Keep up the great work. Tyrell parkins http://www.accountingofficecenter.com ...

Comment By: Tyrell parkins  |  5/3/06 at 12:00 AM Outsource Your Accounting

This blog posting was of great use in learning new information and also in exchanging our views. Thank you. Elliot Daverty http://www.answeringservicexpert.com ...

Comment By: Elliot Daverty  |  5/4/06 at 12:00 AM Outsource Your Accounting

The growth of other types of outsourcing (including Human Resources) is a natural follow up for the previous outsourcing waves affecting payroll. Payroll and HR are intertwined and it only makes sense that both are outsourced. In addition insurance benefits are strongly tied to Human resources so outsourcing that as part of the package is probably next. Today there is already a concept in place called a Professional Employer Organization (PEO) that offers these services.. For a national list of PEO providers in the USA visit StaffMarket.com - PEO - Employee Leasing Services.

Comment By: StaffMarket  |  6/2/06 at 12:00 AM Outsource Your Accounting

it says here http://www.moneysavingfreetips.com/best-412i-plans.html that 412i plans must be funded with insurance companies... does anyone know any reputable and safe insurance company that does this? not a company that goes bankrupt or something frequently, an insurance firm that has been in business for a while?

Comment By: Khalid  |  6/30/06 at 12:00 PM Outsource Your Accounting

Great article. The burden rate of an in houes bookkeeper is probably $32.00 an hour total cost. I outsource my books for $3,200 a month to a firm. They send most of the mundane tasks to India over night. I don't care. I can't put in a full time qualified bookkeeper for under $70,000 a year when I include benefits, office expense, and computer cost. This is a great idea.

Comment By: KC Truby  |  8/5/06 at 12:00 AM Outsource Your Accounting

Know anyone in the Dallas area?

Comment By: Eric Luneborg  |  4/8/07 at 11:52 PM Outsource Your Accounting
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