In the months or years since you became a business owner, how many times have you said you need accounting services? If you're like most business owners, the answer is probably a lot. From the moment you opened your doors and started your first billing, consultants, partners and other well-meaning associates have undoubtedly weighed and suggested an accounting service to help keep your company's books and finances on track.
If you've ignored this advice until now, it might be a good time to start doing your search, because an accounting service does more than just record accounts payable and receivable, it ensures the safety, power, and success of your business.
What does a bookkeeping service do?
A bookkeeping service offers a three-tiered approach to developing and maintaining your company's overall financial management and processes. The first pillar created by the accounting specialist is the use of a suitable system (software), whether it is a system in the accounting office or in the company itself. It creates your accounting data file to be tailored to your company's specific needs, which will guarantee you access to the software and reports you need.
Next comes the basic duties of an accountant: bookkeeping, tax, keeping track of accounts payable and receivable, and keeping all your company's financial transactions documented. It sounds simple enough, but there's a lot more to this job than meets the eye.
An accountant can also manage payroll, handle deposits, create and maintain financial reports, manage the ever-changing world of sales tax as well as quarterly taxes and withholding. Accountants also reconcile bank statements with internal accounts and even help during an audit or tax.
Whether you're looking to get a business loan, respond to an auditor, or simply project next year's budget and business plan, you need the help of an accountant. They help ensure that each of these tasks is completed correctly, in a timely manner, and is accurate enough to be truly useful.
You will start creating a set of checks and balances in your company. Individual departmental expenditures will be recorded and analyzed by the accountant, accounts receivable and accounts payable reviewed and fulfilled by the accountant, and company expenditures will be compared to its budget for review and analysis, helping to identify inefficiencies and create future budgets. more accurate.
And this is where the third end of the accounting service comes in: the controller. The controller increases the company's overall financial responsibility, checks and balances. A controller reviews the accountant's accounting for accuracy and maintains the integrity of the accounting data file in the future so that adjustments cannot be made without approval. Finally, a controller issues monthly financial reports highlighting any critical issues you need to understand and possibly address.
How an accounting service benefits your business
While all the tasks of an accounting service are vital to the financial health of your business, it's the underlying framework they apply that really makes the difference. Accounting services implement - and maintain - a consistent financial process that strengthens the health of your business and helps create and encourage consistency in tracking, payment and reporting. The value of this is immeasurable as it protects your business from costly and dangerous risks.
Part of the benefit of the process comes into play when the accountant coordinates with members of management in other departments to approve purchases and gather expense reports. Not only does the activity require extreme organizational, managerial and math skills, but an accountant must also have the personal skills to make it work.
The team also works to reduce your overheads. Not only does it ensure that books are properly maintained to avoid costly errors, fees and penalties, it can also help alert you to waste and mismanagement of supplies and inventories. All this while saving you time as you will no longer have to carry out these tasks alone.
There is no doubt that a bookkeeping service saves your business time and money, but the processes and consistency introduced can increase the longevity and efficiency of your business, making you more profitable for decades to come.
Hiring an accounting service
Hiring an accounting service is more than just finding someone who can use a calculator and understand bookkeeping. You need a complete team that has the professional experience, training and expertise to really benefit your business. People whose expertise you can trust. Ideally, you need to focus on those who have certification, national and international structure, additional professional certifications in specific accounting software, or those who employ CRC-registered accountants.
One of the easiest ways to secure an experienced and certified professional accounting service is to use an accounting service provider. In fact, you can hire an entire accounting team - including an accounting software specialist, accountant and full billing controller - all through a virtual service without having to create an in-house department. And after using their services, you find that your company cannot afford not to have their expertise.
No matter where your business is located, an accounting team can give you all the advantages you need to stay growing and profitable for years to come.
You give your business so much to grow and succeed. You dedicate your time, knowledge and ideas, market your products and services and hire qualified employees, design benefits packages and have a dedicated space. Now it's time to take your business to the next level and ensure your future success by implementing an accounting team. Allow them to take advantage of maximized efficiency of their business income and expenses while holding their employees accountable and minimizing exposure to various financial and audit risks. If you care about your company's future, hire an accounting service today.
Get in touch with TATICCA – ALLINIAL GLOBAL, which offers integrated auditing, accounting, tax, corporate finance, financial advisory, risk advisory, technology, business consulting and training services, For more information, visit www.taticca.com.br or e-mail taticca@taticca.com.br and learn more. Our company has professionals with extensive experience in the market and has certified methodologies for carrying out activities.