Outsourced bookkeeping and accounting services are a fast growing trend across the globe. The economy has changed in recent years and companies are looking for ways to eliminate expensive administrative overhead.
Business owners are downsizing their offices to lower rental rates; more and more part-time employees are being hired. Companies are now looking to work with outsourced companies that can provide professional services at half to a third of the price it costs a company to hire employees internally. To learn more about outsourced bookkeeping for auditors, browse the internet.
However, many small businesses still require the help of a secretary who can professionally answer phones and handle administrative tasks. To keep the secretary busy, many companies may decide to have their secretaries handle all accounting and bookkeeping functions.
Unfortunately, turning a secretary into an accountant is a big mistake; causes problems, errors and creates inaccuracies. Bookkeeping and accounting functions must be accurate for management and reporting purposes. The cost of training a secretary to be an accountant is another additional cost that a small business may not be able to handle.
Oftentimes, once the secretary is trained, she will seek employment elsewhere. Outsourcing accounting and bookkeeping functions to a company that has been trained in this field eliminates the problems associated with hiring, training, and rehiring a new employee.
A company that provides outsourced bookkeeping and accounting services must keep an accurate set of books. They are also legally responsible for acting in accordance with the laws governing the management of company finances.