What Can Outsourced Accounting Services Do for My IT Business?
You and your employees spend all day providing the best IT service possible to your customers. The day-to-day grind makes it difficult for you to find the time to focus on working on the back end of your business by making sure your financial accounts are up to date. But doesn’t your business deserve the same high caliber of service for maintaining your books?
Bookkeeping is important for managed service providers of all sizes and across varying industries, including IT. Businesses use bookkeepers in some form for at least basic financial record-keeping. The work, which is very clerical in nature, often involves the recording and reporting of income and expenses, invoices, cash flow, payroll, and paying bills.
“IT organizations continue on a path of steady but modest growth in operational budgets while capital budgets and hiring are essentially flat,” according to a report by the marketing research firm Computer Economics. Considering this growth, it is particularly important for IT services leaders to have a full and accurate awareness of their businesses’ finances.
For small to medium-sized businesses, the bookkeeper doing the day-to-day work may be a part-time or full-time employee, a friend or spouse of the owner—or even the owner himself or herself—but someone always fills the role regardless of his or her qualification.
An IT business needs a bookkeeper and an accountant with a high level of expertise, in addition to being technically savvy with the latest financial software, to properly manage the company’s important financial records.
Here are four reasons you need to outsource your bookkeeping to a team of accounting experts who will handle your business with the same care and integrity as you:
- Provides You with a Dedicated TeamOur outsourced accounting services provide you with a dedicated team that consists of a bookkeeper, staff accountant, and accounting manager—you will receive the fractional share of a full accounting department for less than what it would cost to hire a full-time in-house accountant.Outsourced accounting services often provide higher quality and deeper expertise than what you can get for the same price for an in-house employee. Our employees come to you with specialized industry knowledge in accounting and technology that will ensure your business is compliant with all state and federal regulations and tax laws.
- Ensures Your Records and Accounts are Accurate and Up to DateFew things are more frustrating for a business owner than not knowing whether your accounts and records are up to date. Worry no more! When you outsource your accounting, not only will your account information be accurate and timely, the information also will be available to you anytime, anywhere with the click of a mouse or via your mobile device thanks to our cloud-based accounting system.The use of cloud technology in virtual bookkeeping improves accounting accuracy and collaboration between colleagues by providing automation and integration of business functions in a platform that enables all authorized users to access documents and data.While controllers typically are responsible for the month-end reconciliation, bookkeepers often maintain and reconcile general ledger accounts, including overhead and inventory. Our team would handle all of these responsibilities for your business along with your accounts payable and receivable and other bookkeeping responsibilities.
- Gives You Peace of Mind with a Safe and Secure Technology EnvironmentAs an information technology services provider and expert, you understand the critical importance of operating in a safe and secure digital environment when it comes to handling your sensitive financial records and data. Because we operate using cloud-based technology, our QuickBooks Certified hosting partners host your QuickBooks Pro, Premier or Enterprise files on their secure servers. Or we can put your company on QuickBooks Online if its right for your business. Either way, your information is available to you and your team 24/7 and you can enjoy the knowledge that your information is being continuously protected.
- Makes Sure Uncle Sam is HappyBy outsourcing your accounting to our experts, we will make sure your taxes are properly recorded and paid on time. An added bonus is that your business will experience a reduction in employer payroll taxes by not having to employ any in-house bookkeeping or accounting staff.
If you’re interested in outsourcing but are not sure whether your business is in need of basic bookkeeping or advanced accounting services, check out our blog to help you determine the life cycle stage of your business.
Unified Accounting & Tax offers customized solutions to meet your basic or advanced bookkeeping and accounting needs. We hire and continuously train our accounting staff and associates to provide you with the most accurate service possible. If you’re ready to get a better perspective of your IT company’s financial future through its records, let’s discuss how our accounting services professionals can best serve you.