Friday, November 27, 2009

Accounting Services: An Integral Part Of Your Small Business Growth

Are you an expert accountant? Most small business owners aren't, and that's why they need the help of a professional who provides accounting services. Hiring such professionals for accounting services can ensure that your books of accounts are in the right hands, so that you can focus on your business. Small business owners are generally tempted to take care of their own accounting. However, hiring a professional for small business accounting services holds some aces over do-it-yourself accounting.

Why a professional for accounting services?

Until recently, small businesses used to hire in-house staff to take care of their accounting for them. This was the only option available to small businesses, as there were few professional accounting service providers available. However, small business owners are increasingly starting to use outsourced accounting services due to the various advantages it offers. The number of service providers for small business accounting has also increased exponentially in the past few years.

Using accounting services can save precious resources, especially for small businesses. The cost of hiring and training an in-house accountant is huge, and an accounting service provider may help save as much as 40% of the cost of such recruitment. A professional company for small business accounting is an expert at what it does, so you need not worry about the quality of work being done. Such an accounting firm is also available 24x7 through phone, email, teleconferencing etc., so accessibility is also not an issue. If an accounting service provider is giving you a cheaper deal and taking care of all your accounting requirements efficiently, why should you hire in-house staff for accounting?

What to expect when you use accounting services?

A professional accounting service provider will be completely dedicated to maintaining your books of accounts. So instead of one single accountant in-house, you will have a whole company at your service. Most accounting service providers provide customized accounting services, which will be completely tailored as per your requirements. A company specializing in small business accounting will also have the latest software and experts to make sure the job is completed properly.

Most accounting service providers offer other services as well. For example, an accounting firm may also be offering bookkeeping services, tax preparation services etc. When you are checking out the company's service portfolio, see other service offerings they have over and above accounting services. If you see anything that applies to your business in addition to small business accounting, have that added in your package.

Accounting firms also provide completely scalable services, so you can change your package or requirements at any time you want. However, you need to discuss the scalability of services with the accounting service provider in question. You may also be thinking about the security of your financial information when you use accounting services from a third party. But you can rest assured that an experienced company providing accounting services will have adequate security measures to keep all your data safe. Ask your accounting service provider about the security measure it takes to keep all your data safe.

Wednesday, November 11, 2009

Online Accounting: How small businesses can benefit from it

As a small business owner, you may be facing a tough task of managing all departments of your business at once. Running a small business is a tough task as it is; add to that the responsibility of handling small business accounting and bookkeeping, and it may become an impossible one. If hiring in-house staff for handling your books of accounts is not an option for you, consider hiring the services of an online accounting service provider. Online accounting is known for its benefits, especially for small businesses. Some of the benefits of online accounting are as mentioned below:

Cost Effective
The first, foremost and most important advantage of online accounting is its cost effectiveness. Not only does hiring online bookkeeping service save you the cost of hiring in-house resources, it also ensures that additional resources like office space, rent etc. are not wasted. You can then invest the money and resources saved through online accounting into the business to ensure its profitability.

Quick Turnaround
Online accounting service providers provide a very quick turnaround as they have dedicated personnel working on your books of accounts. In many cases, the online bookkeeping service provider gives an assurance of updating your books of accounts within 24 hours of receipt of the documents. Such speedy work ensures that accounting and bookkeeping of your small business is up to date at all times.

Experts at Work
Let’s admit it: you do business well, but maintaining books of accounts like a pro is not your cup of tea. When you hire online accounting services, you can rest assured that there is an experienced professional working on your books. Such experts also ensure that the work done is impeccable and there are less chances of any mistake in your small business accounting.

Easy to Use
Online accounting services make your work very easy with a simple procedure. You just need to send your documents to your online bookkeeping service provider via email; the rest is all taken care of by online accounting professionals on the other end. You can hence stop worrying about your business financials the minute you email the document and concentrate on running your small business.

Efficient Record-Keeping
Online accounting or online bookkeeping gives a lot of importance to record-keeping. When you hire a professional for online accounting, you need not maintain separate records for your own reference. The latest and most accurate accounting information will be maintained by professionals when you decide to use online bookkeeping services. You can get access to these records 24x7, which is a facility given by most service providers today.

Online accounting has the potential of aiding you in running your business efficiently and reducing your overall responsibilities. There are many online bookkeeping service providers today which offer customized packages. You can select the one that best suits your small business requirements.