Contracting a virtual accountant can help take your small business to the next level. The traditional method of hiring a full time in-house bookkeeper or more senior level accountant/finance professional is quickly becoming a thing of the past in today’s fast pace business world.
The traditional approach is not only costlier but requires more attention by the owner/management which takes away from time that should be spent trying to grow the business.
Here are 5 reasons why using a virtual accountant is the right course of action for your business:
- Cost Effectiveness – with a virtual accountant, you only pay for the services that you need. Hiring a full-time in house accountant requires paying a full-time salary plus benefits, payroll taxes, vacation pay, etc. and can often lead to future financial obligations in the form of severance and other employment liability issues.
- Real Time Data – Using a virtual accountant and cloud computing software will provide business owners with an updated look at the company’s financial situation in real time, anywhere around the globe.
- Time/Focus – As mentioned above, small business owners should be focusing all of their time and effort into growing their business. By contracting a virtual accountant, you can eliminate the constant cycle of recruiting, training and managing on-site bookkeepers and finance professionals.
- Access to Expertise – CFOLink provides access to a network of top tier CPAs, all of whom possess unique skills and expertise. These are individuals that a small business typically would not be able to afford to bring on full-time.
- Independence – Contracting out the finance/accounting function means that the accountant(s) is not entrenched in the politics of the organization and can act as an independent arbiter of the books. Additionally, this provides an unbiased and outside view of what is going on within the organization. Furthermore, the accounting function will have no incentives tied to the company’s performance.
To learn more about how CFOLink can help grow your business contact us today for a free consultation.
