It’s amazing how much online technology has changed the way people do business. This is especially true for small business owners looking to save money wherever possible. One of the best examples of this is bookkeeping—a job function many don’t want to manage, yet one of the most important roles in any company.
Doing your own bookkeeping can be a questionable decision because you don’t have an objective viewpoint or you might not have the proper training. Yet hiring an in-house employee to handle your books is expensive. Professionals in this field are looking for full-time positions with pay that matches their qualifications.
An option that many business owners are considering these days is to outsource their bookkeeping. You can hire a CPA or accounting firm like Ferguson, Timar & Company to be your “Outsourced CFO” and handle all the vital financial duties without having to pay a six-figure salary to a full-time accountant. Let’s take a look at some of the advantages of outsourcing your CFO or bookkeeping services.
1. Time Savings.
Rather than dealing with the bookkeeping yourself, you can free up your time and know that your Virtual CFO has all your accounting needs covered.
2. Proven Expertise.
With outsourced CFO services, you’ll essentially have a professional and licensed CPA working for your company. They protect your assets, understand tax regulations and make sure the job is done right.
3. Cost Effective.
Obviously, an outsourced CFO is cheaper than having a full-time accountant on staff. In addition, you are also likely to encounter fewer tax issues and penalties if you were to attempt doing all the bookkeeping yourself without proper experience.
4. Teamwork at Work.
Most outsourced CFO services are provided by CPA firms. That means you will have a team of experts working on your behalf.
5. The Best Bookkeeping Systems.
Rather than having to upgrade your accounting systems, which is a constant pursuit, the firm who provides your outsourced CFO services will most likely have the latest and greatest systems already in place.
6. Business Growth.
An outsourced CFO can help you grow your business. The expertise they provide will help you save money throughout your company, while also saving on payroll. That way, you can put those extra funds toward your business growth goals.
To learn more about outsourced CFO services from Ferguson, Timar & Company, contact us today for a no-obligation consultation. Let us show you how we can help your business achieve more.
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