Some points to convince you into accounting outsourcing

“If you deprive yourself of outsourcing and your competitors do not, you're putting yourself out of business.” - Lee Kuan Yew.

A recent research stated that companies that leverage outsourced accounting for CPAs are able to process transactions and invoices at least 60% faster than those who don’t. 

With companies offering outsourced accounting for CPAs, a little more can always be accomplished even if you have access to limited resources. The workload can be reduced allowing increased focus on improving the core aspects of a business. 

Utilizing outsourced bookkeeping for CPAs can help transform manual and paper-intensive functions into a fully automated process. They have the resources necessary to streamline the accounting and bookkeeping process by reducing the administrative workload on the staff.

A majority of businesses feel much capable of turning the cost burden into advantageous practices by seeking the help of outsourced accounting for CPAs. They are able to turn the cost burden into an advantage. With customized services at competitive prices, outsourcing accounting and bookkeeping can be a smart choice.

The following are a few benefits of outsourced bookkeeping for CPAs:

Innovation 

Outsourcing accounting and bookkeeping processes can help businesses to improve them further as there is no need to get involved in exhaustive documentation, planning, execution, and auditing processes. Decision making becomes easier and focus can be increased on the core business.

Performance

Bringing about cost efficiency by standardizing business processes can be easily managed by outsourced accounting and bookkeeping service providers. As a result, business performance is improved while the cycle time and expenses are reduced.

Businesses having high employee turnover or seasonal hike in invoice volume, better understand that hiring and training employees are an exhaustive and expensive process. Limited capital and technical resources are also the reasons affecting growth. 

Hiring an in-house accounting staff and maintaining the equipment & facilities can be costly. 

Outsourcing here is an appealing option allowing businesses to maintain steady growth levels with cost-effective methods.

Technology

Maintaining in-house technology options, especially those with licensed models, require an upfront investment, along with regular software maintenance and update expenses. Providers of outsourced accounting for CPAs invest in cloud-based software packages and invest time and money in product upgrades. This benefits businesses in two ways: Making the entire process quick and transparent and, allows any time, anywhere access to financial information.

Standardization

Organized providers of outsourced bookkeeping for CPAs have standardized processes and are always compliant with the Service Level Agreement, SLA. They take the entire responsibility of designing processes, delivering results and controlling the output to ensure that desired business goals are met.

Outsourcing to Bikham Finance!

Outsourced accounting for CPAs can be very beneficial to a business. Bikham Finance has been offering expert outsourced accounting and bookkeeping solutions since the last 14 years of its operation.

Outsourcing bookkeeping and accounting services for CPAs

CPAS are well-versed strategic business advisers and decision-makers. They act as consultants on many issues, including bookkeeping and accounting. With many years of experience, they have knowledge that businesses want to tap into.

One of the common questions that arise is whether your organization needs a full-time accountant?

A company needs an accounting professional who focuses on its day-to-day financial records. The outsourcing bookkeeping and accounting services is a less expensive option as compared to in-house services. Accounting firms either small or large require the skill of a CPA, as they have much more to offer. They provide an organization with a path to extra wealth and help individuals, accounting firms, and other organizations to reach their financial goals.

Whether you want to save money, time, or both, you need to Outsource bookkeeping and accounting services.

It means now your organization doesn’t have to pay for the overheads, vacations, sick leaves, payroll taxes, and eliminates hiring and training costs. They make sure what “tax benefits” your organization is eligible for. They consider your business as their own by providing business insights and financial advice. They give timely, relevant advice to their clients and the ability to work at whatever pace the client desires.

Why does your organization need some professional help?

1. CPAs are constantly paying attention to the changing tax laws so that an organization never misses something important.

2. Let a CPA help you in improving your card ratings.

3. There are many tactics which can help you in getting out of debts, but most of the organizations are not aware of these. Guess what? Your accountant does.

4. CPAs are eager to work for your organization and even appreciate your business.

5. If your organization owes any historical taxes, then CPAs are ready to figure out strength-based solutions.

With 13 years of on-hand industry experience, Bikham Finance allows us to stand out from the crowd. With the ISO 27001:2013 accreditation, our bottom line has grown up just enough to be able to support your bottom line. In the end, this one decision can end up saving you thousands of dollars.

Bookkeepers as "Tax Strategists"

Accounting services include complete bookkeeping services, issuing payments, producing monthly reports, processing accounts payable and tax preparations. Bikham information technology provides you with an advisor and a financial interpreter. They maintain and update your accounts at a cost much lower than hiring staff locally. Your business demands accounting needs and they are fulfilled by Bikham.

Benefits of Outsourced accounting provided by our firm:

1. Payroll processing

2. Helping you understand the balance sheet

3. Maintains profit and loss statements

4. Data is secure

5. Cash flow analysis

6. Budget analysis

Payroll is defined as the total amount of wages paid by a company to its employees. Payroll process includes pre-tax deductions, state payroll filings, and related payroll issues.

A Balance sheet is a financial statement which includes assets, liabilities and owners equities.

Assets include short-term certificates of deposit. By the term certificate of deposit, we mean there is an agreement according to which you receive an amount of interest for depositing money.

Liabilities include long-term certificates of deposit.

Owners’ equities represent the net value of a company.

These sheets are prepared at the end of the month or year-end. These balance sheets turn out to be a report of how the company has performed over time.

Profit and loss statement is the statement of operations, statement of income or statement of earnings. These statements give a conclusion regarding the revenues and expenses generated by the company over time. These statements include:

Net sales

Cost of goods sold

Gross margin

Net profit

Outsourcing accounting is defined as handling all accounting work to an accounting expert. This is done to ensure that the financial goals are met.

At Bikham, the accounting services offered to CPAs are:

1. Clear view of the financial health

2. Bookkeeping services

3. Documentation and financial reports on time

4. Payroll

5. Taxation and other value-added services

CPAs demand bookkeepers and consultants which are highly expensive and most of the firms are not ready for the huge upfront investment. But at Bikham Finance, you get an option of getting this work done at a cost much lower than hiring these advisors. They provide you with balance sheets, income statements, cash flow statements, and detailed general ledger reports on time at a nominal cost. These services have reduced accounting hassles and offer efficient services and interesting business advice to the clients. Clients having overheads that come in the form of accounting staff and dealing with complex payroll work comes to an end when you start working with us.

With over 13 years of on-hand Industry experience, we are the perfect choice to the firms. We help you to act out of your limitations.