As a small business owner, you know full well that your time is best spent growing your business. Unfortunately, you’re spending far too much time on other things. While you’ve rationalized that you need to wear many hats, you’ve also come to realize that you’re not doing what you do best. Something has to change.
This is ultimately why so many small and medium-sized enterprises (SMEs) look for outsourced bookkeeping services with a certified public accountant (CPA) firm. So, why outsource your bookkeeping to a Las Vegas CPA firm?
Thinking of outsourcing your bookkeeping but don’t know where to turn?
Contact Larry L. Bertsch, CPA & Associates today for the assistance you need!
Take a look at some of the benefits you can enjoy once you let someone else keep track of your business’s finances.
1. Cost Reduction
Reducing costs doesn’t merely involve saving money on a full-time employee, although that is a definite savings of outsourcing. Instead, real savings are measured by how much your small business reduces its tax burden. According to some estimates, upwards of 50 percent of businesses face a yearly fine or levy from the IRS for incomplete or incorrect tax filings.
So, while you’ll definitely save money over having a full-time employee, you’ll actually save even more by having one of the Las Vegas CPA firms properly fill out your taxes. Granted, there is no personal or business income tax in Las Vegas Nevada, but that doesn’t mean your business is exempt from Federal taxation. A CPA firm is well-versed in government regulations, tax codes and labor laws. They can help you save on taxes and make sure they’re done right the first time.
2. Improved Time Management
Less time spent trying to take care of your business’s bookkeeping means more time managing your day-to-day operations. You need to commit yourself to growing your enterprise through aggressive business development endeavors. After all, nobody can sell your company’s products and services better than you can. You’re best served by being at the forefront of your business and increasing customer face time. Freeing up your personal time means you’ll be more focused on what you do best.
3. An Extra Set of Eyes
It isn’t merely a question of reducing expenses and freeing up valuable time. It’s also about benefiting from everything a CPA firm has to offer. Once your business has outsourced bookkeeping services to a CPA firm, you can gain insight from a team of experts whose solid business acumen is backed up with years of pertinent experience. A CPA firm is a fantastic resource on all things business-related.
Many small enterprises count on their outsourced firm for business insight, strategic planning and guidance on how best to manage the company’s finances and reduce its day-to-day operating expenses. In fact, in many instances, a CPA is that silent partner, one capable of providing timely business insight.
4. Reduced Financing
Outsourced bookkeeping services don’t just mean you’ll simplify how you manage your time. It’s not just a question of lowering costs by eliminating a full-time position. It’s also about reducing your company’s costs of financing. The right CPA firm can provide insight on how best to reduce your company’s daily costs of financing. This might involve helping you reduce your costs of inventory and receivable financing, while also helping you better manage cash flow by keeping more capital in your business.
5.) Budgeting and Planning
One of the benefits of outsourcing bookkeeping to a CPA is that you’ll be in a better position to budget and plan for the future. An experienced bookkeeper can give you insights about your business that help you best direct resources toward it. With an extra set of eyes and years of experience at your disposal, your business can achieve growth.
6.) Consistent Punctuality
You have more than enough to keep track of when running your business, and the last thing you need to worry about your punctuality on payments. A bookkeeper can help you keep up with payroll, make sure your invoices are sent out, and pay all of your bills on time. This way, you won’t be waking up in the middle of the night questioning if you made a vital payment.
7.) Access to Sophisticated Software
Once you’ve outsourced bookkeeping services for your business to a Las Vegas CPA firm, you’ll have access to sophisticated and expensive accounting software. These platforms can greatly streamline and improve your accounting operations and have far more capabilities than free or low-cost options, which can be critical if you are running anything more than a sole proprietorship. You also won’t have to worry about learning how to use them, as you’ll have an experienced team of experts trained to do so.
8.) Don’t Stress During Tax Season
Despite your best efforts to keep up on your taxes throughout the year, you probably still find yourself scrambling to meet the filing deadline. One of the underappreciated benefits of outsourcing your bookkeeping is you’ll be able to keep up with your taxes each month. This makes filing easier and gives you a better ability to view the financial state of your business at any time.
Larry L. Bertsch is a customer-centric CPA firm that helps small businesses secure their long-term future through better financial management. The firm’s goal is to work directly with customers and forge a strong and lasting business partnership. If you are looking to reduce your tax burden, free up valuable time, lower costs, and or just benefit from their insight, then give us a call for a hassle-free, no obligation discussion.