You are the decision-maker, so all things need to run through you. For most, this bottle-neck gets to be too much, and you need to consider outsourcing certain functions of the business. You are in a predicament if you don’t: hire or hold. You can hire someone to carry the responsibility, or you can hold your company back from growing. Call Me, Now!
One of the first functions common to get outsourced is accounting but beware of the dangers.
Outsource Your Accounting Function
There’s a phrase that encapsulates cash flow in business accurately: If you’re not growing, you’re dying. Here are the dangers of outsourcing your businesses accounting function:
#1. Your Business Will Grow Faster
When you outsource your accounting function, your business will gain the opportunity to grow faster than if you continue to do the function yourself or keep it in-house.
#2. You Gain More Time To Work On Your Business
Ever been told that you need to work on your business, not in it? When you outsource functions, including accounting, you gain time back to work on increasing cash flow and growing your business.
#3. You Increase Cash Flow
In-house accountants and Certified Public Accountants tend to cost you more. Not only do you pay their salaries, but you also offer them benefits and are responsible for other expenses. Outsourcing your accounting function frees up some cash flow that you can use to grow your business.
#4. You Can Scale Your Accounting Function
As your business needs more accounting attention, you can scale the function with outsourced accounting services. Instead of incurring the cost of searching, hiring, and training a new accountant in-house, you can rely on the outsourced function to scale with you, not hinder your growth.
#5. You Gain Expert Advice
An outsourced accounting function does more than save you money and increase cash flow; it grants you access to a master accounting professional that’s looking out for you and your business. Expert advice can be called upon during business decisions without paying the premium of in-house employee costs.
Furever Bookkeeping: Your Master Accountant Serving MD, VA, and DC
As a business owner, you have a choice to make: You can grow or you can stall. It’s a simple concept that has lead to much success for many other business owners. Your success is determined by how well you make decisions, as well as the available cash flow in your business. In fact, when you outsource your business’s accounting function, it can get dangerous. You will need to make better decisions based on accurate financials. You may find that the more you outsource, the more success you find. The pressure is on you, and outsourcing business functions only makes those decisions more manageable.
Are you ready to discuss outsourcing your accounting needs? Call Furever Bookkeeping now to get a free initial financial analysis.