Outsourced bookkeeping and accounting services have been a game-changer for small and medium business that look for accurate, streamlined and efficient bookkeeping and accounting services without having to set-up a dedicated accounting department of their own.
Outsourced accounting services save time, money and give flexibility to scale-up or scale-down based on the accounting requirements while avoiding the investment risks and overhead expenses. While outsourced bookkeeping and accounting are slowly gaining their foothold, there still exists many myths and misconceptions that are impeding its growth and in this blog here, we aim to debunk them and clear the air.
If you are a small and medium business still on the fence about outsourced bookkeeping and accounting, then here are the 5 common myths and misconception you must know before you make your decision:
Myth 1: Outsourced accounting is not secure:
The most common myth that is perpetuated about the outsourcing industry especially when it comes to the finance and accounting industry is security. Given the sensitivity of financial information, it is only natural that business owner feels concerned – but in reality, an accounting firm provides the best security measures for the accounting data – better than that of the particular business itself.
An established outsourced bookkeeping and accounting service provider holds a wide and in-depth expertise about data security which reflects in the advanced security options and tools they employ to guard the data. Holding a comprehensive security guideline in place, advanced secure firewalls, encrypted file sharing, CCTV monitoring, restricted data access are common for an outsourced bookkeeping and accounting firm, making it far more secure than the business’s own accounting department. But make sure your outsourcing partner is an established remote accounting firm with an excellent, long and verifiable track record.
Myth 2: Outsourcing is the loss of control and visibility:
Small and medium business owners are of the opinion that outsourcing bookkeeping and accounting functions may cast a mask over the activities – which is absolutely not true. An accounting firm organizes the books and spruces-up the accounts with one simple aim to give you more visibility over your finances and help you make the right strategic and informed decisions.
A remote accounting firm like Outsourced Bookkeeping establishes the booking and accounting guidelines that render maximum control and visibility for your business and follows them rigorously right from the onset. With complete, transparent and regular access to your organized books and financial information, a business owner will be a better space to make informed decisions which is what an outsourced accounting firm aims for.
Myth 3: Remote accounting firms do not understand the business:
An established outsourced accounting services provider is powered by experienced accountants with years of experience in providing accountancy services for business across varied business verticals. Having worked with many businesses, forget not understanding, you can even bank on their versatile expertise and years of experience of working with both small and large businesses in your niche. To make this possible we advise you to carefully choosing the right accounting firm by going in-depth with their expertise and experience before you outsource your accounting services.
Myth 4: Outsourced Bookkeeping & Accounting is for large businesses only:
Finding the best remote accounting firms on-shore or off-shore, to outsource bookkeeping and accounting services may seem like a big player move, but it is evidently not. Large business does routinely outsource to increase their efficiency and productivity but that doesn’t mean outsourcing is for large businesses only.
In fact, small and medium businesses can benefit from outsourced services, given they are limited by their budget and are actively seeking business growth with limited resources. Outsourcing is the perfect alternative to dedicated accounting departments which small and medium business may not afford for ROI and other practical reasons. If a small and medium business can find affordable bookkeeping and accounting services that align with their accounting requirements, they can significantly benefit from outsourcing too.
Myth 5: Finding an end-to-end outsourced bookkeeping and accounting service provider is an affordable price point is difficult:
This myth does have merit to itself as a very accounting firm is not perfectly equipped to provide end-to-end booking and accounting services with complete expertise. And add an affordable price tag to the service, the search can seem more taxing – but we differ. Because for years now, our accounting specialists at Outsourced Bookkeeping have been providing complete bookkeeping and accounting services at an affordable price. And we are not even that hard to find, since a simple Google search of ‘best-outsourced bookkeeping and accounting services’ will have us listed on the no.1 page of Google SERP.
At Outsourced Bookkeeping our accountants, bookkeeping specialists and accounting resources are widely experienced in providing end-to-end accounting and bookkeeping services for all types of business. We employ cutting-edge security tools and enforce strict guidelines to provide best-in-class security, at an affordable price point.
So if you are looking for remote accounting firms to outsource bookkeeping and accounting services, you can contact us here: https://outsourcedbookeeping.com/