Removing full or part-time bookkeeping and accounting services from a company is a new concept for most people. Thirty-five percent of America's largest businesses outsource bookkeeping. As a small to medium sized business you now have the same alternative as Fortune 500 firms. The most successful businesses of today have gone to outsourcing bookkeeping & accounting and now have time and money to spend on differentiating themselves in the marketplace.
While we've tried to cover the who, what, when, where and how of outsourcing, if you don't find the answers you are looking for, please email us your question.
Please Note: TaxTalkOnline.com = B4T
Q. Who is Outsourced Bookkeeping and/or Accounting Suited for?
A. You have the opportunity to upgrade the quality of your bookkeeping and accounting department while cuttings costs! Outsourced bookkeeping and accounting allows you to replace the salary, payroll taxes, fringe benefits, worker’s compensation insurance, employee training and management, accounting software, office space and other costs associated with an in-house employee with a FIXED monthly fee from TaxTalkOnline.com. B4T expects that your current costs could be reduced up to 30-50%!
Q. When Should You Outsource Your Bookkeeping and/or Accounting?
A. Maybe you only need a part-time bookkeeper or account for your business and don’t wish to add this position to your employed staff. Maybe you are having difficulty finding and retaining qualified help. Maybe the costs of retaining help internally has gotten too expensive and gives you too many headaches. Sourcing this “part or full-time” need can provide an excellent alternative. B4T has the knowledge and expertise to help you.
Q. Why does it make sense to outsource your company’s bookkeeping and/or accounting functions?
A. Outsourcing a “back-office” function such as bookkeeping and accounting allows the owner/management to focus on the core growth activities of the business. So whether your business needs a bookkeeper or accountant for a few hours a week, or a full-time position, you need highly trained and professional staff to give you an accurate, organized, consistent and cost effective solution to the ongoing accounting needs of the business. B4T assigns specific bookkeepers and accountants to work closely with each client.
Q. How does Sourcing Work?
A. Your accounting can’t get any easier! Just 3 easy steps:
1. You scan, fax or mail your source documents (invoices, payroll data, sales reports, etc.) to TaxTalkOnline.com.
2. We do the work while you operate your business.
3. You download your financial reports and checks for printing in your office.
Q. What Technology or Software will I need?
A. None. No special technology or software is required. If you have a PC and a connection to the internet great. If not, no problem we can mail or drop-off what you need. Note: those using a computer and internet will have all information stored in a PDF file and can be read using a free version of Adobe Acrobat reader. No special printer is required either.
Q. What are the benefits?
A. Outsourcing gives your company access to a higher level of expertise than you normally could afford. A highly talented accounting department is staffed with a CPA, accountants and bookkeepers. B4T lets your company access just the right amount of each level of talent needed throughout the year to effectively give you timely transaction processing and meaningful financial reporting and analysis, all at the right price for your requirements.
1. Savings are realized as B4T puts your accounting department on our staff, not yours, keeping your overhead flexible and lean.
2. The owner / management can now focus on the core business needs, not your bookkeeping and accounting.
3. Outsourced bookkeeping and accounting services can result in improved efficiency, cost savings, access to financial expertise not available in-house and improvements in your ability to monitor your business.
4. You maintain control over your cash. We provide the data, but you approve all invoices for payment and sign all checks ensuring proper segregation of duties over the cash function.