5 common myths about outsourced bookkeeping services

1. 5 common myths about outsourced bookkeeping services medium.com/@pasfirm11/5-common-myths-about-outsourced-bookkeeping-services-aeb5292c86e4 In this article, we have mentioned the most common myths people have about outsourced bookkeeping services. Small scale business owners are already occupied with several business operations, which leaves no time to invest in bookkeeping. On the other hand, the cost of hiring an experienced bookkeeper to handle all the accounting needs of the business is extremely high. To avoid this, many small businesses decide to outsource the bookkeeping needs to an outsourcing company. While many businesses are quickly adopting this trend, others are still skeptical about outsourcing their business needs. The primary reason behind this is several myths and false information circulating about outsourcing accounting. These misconceptions and inadequate information prevent companies from enjoying the benefits of outsourcing. 1/3

2. To clear the air and help the business owners know the reality of outsourcing the accounts, we have decided to address the most common myths circulating about outsourcing and provide adequate information regarding them. Keep reading below to know the most common myths about outsourced business services Outsourced bookkeeping services are expensive The biggest myth about outsourcing accounting services is that they are very expensive and increase the budgets of the business in the long run. So, the small business owners assume that it is beyond their budget and never pay any heed to it. Sadly, they tend to forget that their time is much more valuable than the amount they will spend to outsource their accounting needs. Outsourcing will leave you with more free business time that you can invest to come up with unique business ideas that can help grow your business. Outsourced accounting companies are much more affordable for businesses unable to afford in- house accountants. Also Read: Virtual Bookkeeping Small businesses don’t need a bookkeeper A large number of small businessmen are under an impression that they can easily manage the accounting and bookkeeping needs of their business since their business is functional on a small scale. In the same context, they see no good reason to hire the services of an outsourcing company. But the reality is that it is extremely essential to capture every business transaction with utmost vigilance. Outsourcing CPA firms will be able to handle the books and all the complicated transactions without any hassle. This will you will have adequate time to devote to business growth. Outsourced bookkeeping is not secure Security is one of the most important aspects to take care of in the bookkeeping industry. Many business owners are doubtful that the outsourced accounting service providers will be able to keep things private and secure. Since handling the accounts is not an easy task, people shy away from assigning the finance- related information to some third part accounting company. We understand that it is normal to be concerned about the security of the financial information but, you should know that the accounting firm employs all the security measures that can guarantee the security aspects. Moreover, some of the advanced security measures are even better than the ones you can employ within your company. All the financial documents are protected by employing the utmost security measures, and they also conduct regular audits to ensure no data breach. Outsourcing is the loss of control and visibility 2/3

3. Small business owners think that outsourcing the bookkeeping needs will have an unpleasant effect on their business operations. This is not true by any means. Be completely sure that outsourcing your accounting services will not sideline you from your business activities. You will still be the sole one in charge and the decision-maker of your business needs. An outsourcing company never hides any information regarding your company’s financial health. They will regularly update you about your financial health on a daily, monthly, and quarterly basis. Difficult to trust Business owners are under a delusion that they should never trust outsourcing companies about the outsourcing accounting services of their company. This is because an outsider will not be able to handle the financial aspects of their business with utmost honesty. But you should know that it is not at all true. Any experienced bookkeeping service is well versed in handling the accounts-related information about several businesses with a lot of privacy and never shares any detail with an outsider. Conclusion These are the most common myths about outsourced bookkeeping services. Hope you now know about the truth behind outsourcing the bookkeeping services. You should consider outsourcing your bookkeeping needs to a trusted outsourcing firm. Professional Accounting Solutions, Inc offers timely and cost-effective accounting services including bookkeeping, catch-up bookkeeping, accounting, payroll, tax, and QuickBooks consulting from their Miami and Fort Lauderdale offices. Get free 1-Month online bookkeeping services from Professional Accounting Solutions, Inc., one of the best-reputed accounting firms in Miami, USA. Watch this video to learn more about our exceptional services. 3/3