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Why should small businesses outsource accounting services?

The reasons are simple specialized skill set,reduction in taxes and better productivity. Small business owners should choose an accountant that specialize in its industry. Avoid "general knowledge" accountants. It's doesn't mean they are not qualified, however, it gives the small business owner a level of comfort as it relates to the learning curve. To reduce taxes, hire the accountant as a independent contractor and save on 6.2% on employment taxes. Finally, outsourcing accounting should improve productivity in other operational functions within the business. Before outsourcing this funciton, have a brief staff meeting regarding this decision. You want to make sure hiring a new member within the organization will not lower moral.

 

Is QuickBooks the best accounting system for your business?

It really depends. QuickBooks has great features and benefits to include cost, web-base, security(in the cloud) and user friendly etc. However, some small business owners are growing frustrated with QB's as it fails to do all. QB's is suitable for many businesses, the key to choosing an accounting system is to truly understand your needs and do not purchase solely on price. Do you have inventory? Do you run your business project based (job)? Do you have other applications that must interface with accounting system? Do you have unique invoicing/billing processes? Do you have unique purchasing processes? Do you have more than 3 key employees to train for this application? Do you plan on expanding your business? Would the software grow with the business/ Recommendation: Take your time to think through your needs before settling for a accounting application. The conversion process may not be as easy.

 

 

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