Top Reasons to Never Contract an Accounting Outsource Service – You Need to Read This!customonecfo
If you’re a small business owner, you’ve probably been struggling to try to figure out how to juggle all the responsibilities that come with owning your own business. As exciting as it is, as your business grows you will reach a point where you can’t do it all by yourself and have to start hiring people to take care of the various tasks that come with running a small business. One of those areas that can be hard to manage is finances. Because keeping the books, paying taxes and managing payroll is so important to the lifeblood of a business, it’s important to get the right help. Many people consider hiring setting up a contract with an accounting outsourcing service. As tempting as it might be to just let an outside firm handle all of your finances, there are several reasons why you should not do this. 1) Lack of Supervision When you outsource your accounting services, you are literally handing over your sensitive financial information to an outside company. Regardless of the many assurances, they might give you, the truth is you have no supervision of your information once it leaves your company’s hands. You only have their word that your finances and information are protected. And if they aren’t? Well, the time you find out about it, it will be too late for you to do anything but damage-control due to problem number two. 2) Distance and Time When your money isn’t being handed in house, you immediately run into problems created by the fact that the people you might need to talk to, and the information they need to give you, are not in the building. They might be down the street, or they could be on the other side of the world. Either way, when you need them, it’s not a simple matter to get in touch with someone when you need them. 3) Training Training is another area where you give up all control. Because you are outsourcing to another company, you have no say who actually handles your accounts. Like the supervision problem up above, you only have the company’s word that the people are well-trained and competent in handling your money. But what if they aren’t? This is really not worth the risk. So, what’s the solution? Instead of outsourcing your accounts, why not hire the services of a professional Des Moines accountant from CustomOne CFO & Controllers? Our experiences and trained staff come to your place of business on a pre-set schedule and act as your part-time CFO. Trained, knowledgeable and available at the drop of a hat. Contact us today if you would like to know more.