Ensuring reliable financial statements with outsourced accounting for CPAs

Financial statements are the records which help in determining the financial position of your business. Relevant information presented in a well-structured manner plays a huge role in making successful business decisions.

Accurate financial statements are required to ensure business success. This helps business owners make decisions regarding allocation of resources in an effective manner. Credit decisions, Investment decisions, Taxation decisions, and union bargaining decisions, all become easier with a carefully crafted financial statement.

Preparing financial statements in-house may consume valuable time and resources which may otherwise be utilized for business development activities. All this poses a great challenge for organizations managing their accounting in-house. Organizations turn to professional accountants for generating and managing these reports.

But what about the ever increasing workload for accountants? As clients list grows, accountants can sometimes stay limited to their current work and not have enough business expansion opportunities themselves.

Just likes the businesses they serve, CPA's and accountants have to decide whether to keep doing tedious tasks themselves or not.

Outsourced bookkeeping for CPAs seems to be the answer!

Automated functions

When preparing book records and statements, there is a chance of human error. Even the minutest one can make a huge impact on your business.
Outsourced accounting and bookkeeping services, integrates the latest and the most advanced technology into a business inventory, payroll, and other functions, eliminating the chances of clerical errors.

Access to the expert intellect

When hiring the staff for your in-house financial records making functions, it takes significant time and resources to train them. The newly recruited in-house staff may take time to learn the procedures he or she has never seen before.

Outsourcing accounting and bookkeeping companies invest in the best mindset and technology, so their CPA clients get a broader range of expertise available. This in turn also helps in reducing unnecessary expenditure.

Avoids Multitasking

Accounting and Bookkeeping functions often tend to take a backseat when business owners have other duties. The financial reports quickly become outdated affecting the decision-making capabilities of a business.
With outsourcing, all the accounting and bookkeeping chores are taken care of at the utmost level. This also ensures that the workload is reduced over the in-house staff increasing their workability and performance.

Expert Review

While modern accounting and bookkeeping are all about automation and technology, there still exist the review practices by expert accountants keeping an eye over all the accounting work done.
With outsourced bookkeeping for CPAs, this expert knowledge is utilized to provide error-free services. This helps in elevating your Accounting firm's business to new heights and follow a path of continual growth.

Thinking of outsourcing your accounting and bookkeeping functions too? Trust no other than Bikham Finance. Visit Bikham.com to know more about their services.

Accounting and bookkeeping for accountants, should it be outsourced?

Efficiency and profitability being the end goal, Outsourcing accounting and bookkeeping for accountants is definitely a option worth considering !

If the functions of basic accounting and bookkeeping for accountants are outsourced, an accounting firm can begin to explore a world of opportunities.

A growing demand for Skilled accountants has ensured a high client influx.
But what about the added workload from all the new clients?
Most accounting firms are simply not prepared for it.

Work keeps piling up and the clientele stays limited.

The Boons of Accounting and Bookkeeping for Accountants:

1. Procurement of new clients becomes much easier upon outsourcing these type of services. Outsourced accounting and bookkeeping for accountants, helps you to get more time to cater to the more demanding requirements of your clients.
2. Formation of an internal team for these tasks, would result in an increased human resource management and higher operational costs.
3. Outsourced accounting and bookkeeping for accountants, helps to curb the loss of clients, due to insufficient time devoted, just because you were caught up with other crucial task.
4. Another advantage of outsourcing is that, the tasks are done with supreme quality and within strict timelines.
5. Efficiency of your accounting business would be greatly enhanced, after you equip yourself with the qualified and experienced staff of an outsourcing company.
6. Managing a recruitment drive and retaining the professionals you find is a highly complicated task, while outsourcing would be much more hassle-free and favorable for your business.
7. Accounting and Book-keeping functions keep track of important information and documents to accomplish annual taxes. Tax returns become easier, balance sheet is kept organized all the time, and you get sound tax advice so that you do not have to spend extra time in any corrections afterwards.
8. Accounting and book-keeping for accountants ensure that all the balance sheets are prepared, profit-loss statements are maintained, and your company comes on the right track. This makes the business planning so much easier. Also, the business reporting to your clients also runs in a smooth way.
9. Cash flow management is the most important thing for a business to run in a smooth manner. Accounting and book-keeping for accountants may systematize everything up, whether it is follow-up, preparing invoices or handling supplier payments.

When you keep track of your performance, it becomes so much easier to analyze the weak areas and form strategies for business growth. You are well informed of your performance and take effective decisions to optimize your accounting business.

If you are also interested in optimizing your business operations by utilizing these basic functions, seek help from the professionals at Bikham Finance. Visit Bikham.com to know more.

Outsourced accounting services; the cost effective business management tool.

A business owner has several responsibilities. They need to maintain a balance in business, so that it yields maximum profit.

Need of outsourced accounting for accountants.

Accurate financials are essential for the success of a business; but keeping up with accounting and bookkeeping tasks may consume time which can be instead used to serve clients. Employing an accountant or bookkeeper may be expensive. The costs of recruitment, training, setting up of required infrastructure, accounting software and their licenses may rob your business of time and resources.

The demand of streamlined business operations is on the rise nowadays. So what can be the most effective solution for all these issues?

Outsource your accounting operations!

Yes, you read that right. In order to reduce costs, improve productivity, and keep up with the increasing competition, more and more companies are turning to outsource their business operations. However, cost cutting cannot be the only reason to outsource; it is more required so that business owner get more time to focus on growth.

Outsourcing can be an economical option for any size of business. From new business start-ups to established businesses, outsourcing promises a cost effective configuration of services by attracting revenue and providing aid in achievement of financial goals.

Benefits of outsourcing accounting services.

For small and medium sized business owners, who do not want to spend on expensive in-house accounting but still desire high quality performance; Outsourcing is a boon.

By having a dedicated offshore virtual accounting professional, they are able to focus on core business activities in a better way. This maximizes efficiency of operations and generates profit.

Moreover, Outsourced accounting for accountants guarantees accuracy, quality and security of financial data while saving time and money at the same time. The cost of hiring trained and experienced accountants reduces; directly increasing profitability. Outsourcing frees the in-house staff from hectic accounting functions, giving them time to focus on sales, marketing and excellent customer support.

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Outsourcing is an effective management tool for a profitable business.

But, when exactly should you choose to outsource your accounting services? We have an answer for that.

You can outsource your accounting operations:

When you are too busy handling different tasks and are losing focus on core activities.

When you are having a hard time making money and finding adequate human resources.

When you feel the need of reducing overhead costs and expenditure.

When you are not able to trust anyone for the confidential accounts information.

Bikham offers a full range of outsourced accounting services for every kind of small, medium and large businesses. We assist our clients in improving the quality of their financial reporting and the nature of their financial statements, as well as providing guidance on financial accounting operations. Our team comprises talented and experienced professionals who provide business expertise and personalized attention to our clients.

Schedule an appointment to know more!

Why is Outsourced Bookkeeping for CPAs needed?

If you are Certified Public accountant's, time is your enemy. The workload is plenty, it is essential for CPA's, however, to have time for new clients and increase the overall revenue of the business.

Day by day, the accounting industry is becoming much more competitive for CPA firms. To stay ahead, they not only have to deliver services consistently but also have to be more flexible where the timelines are concerned. It’s not uncommon for small outsourced bookkeeping for CPAs firms to spend most of their time doing basic routine tasks and not have enough time for business expansion or growth.

As the workload increases, firms can look for local talent to contribute but do you really want your CPA firm to get bogged down with the burden of managing a whole new set of employees? 

Even if you consider freelance or part-time bookkeepers, Firms are not always comfortable sharing clients' information with freelancers.

A smart CPA would focus more of his time, addressing matters that require more expertise and knowledge, rather than spending all their time under paperwork. 

Sorting out financial disclosures, doing tax planning and investment strategizing for your clients can be delegated to a 3rd party services provider.

BIKHAM FINANCE will make your life easier!

Bookkeeping isn't all about counting numbers, small businesses can afford to do it themselves but when huge sums of money are involved, it has to be performed carefully. 

A mistake can cause be costly.

Hence, it is important to partner with a credible partner who undertakes this cumbersome task with a guarantee of perfection and someone with a history of other satisfied clients. We provide such outsourced bookkeeping for CPAs and CPA firms. Many businesses are effectively utilizing our services to save time and become more profitable.

We have experienced CPA's, skilled at using varied accounting software like Sage, Intuit, Peachtree, QuickBooks, Quicken, Net Suite, Intuit and Microsoft Dynamics GP etc. We can ensure that all your bookkeeping work would be completed accurately and within short deadlines. Outsourced bookkeeping for CPA's is a boon for CPA firms one who wishes to expand at a fast pace and minimize the costs at the same time.

Partner with us today and see how we can bring a change to your business.

BIKHAM boasts of 13 years of hands-on Industry experience, 100% HIPPA compliance and ISO/IEC 27001:2013 accreditation

How important is an accounting division to businesses?

The Fact.

Most businesses simply cannot thrive without having a dedicated department. The stakes are too high, market competition is fierce and every penny counts. 

There are businesses however that have in the past and still rely on the DIY approach.

Is it really a feasible option?

The Problem.

Start-ups, Small businesses work on tight budgets and skilled expertise is expensive.

Besides, business growth is gradual, business owners can take the risky route and try a hand at accounting themselves.

Outsourced Bookkeeping for Accountants can be a real pain if not done the right way.

What more, it is time-consuming. Especially for someone trying it for the first time.Surveys indicate that a company loses 16 hours a week on average on Accounting related tasks.

Business owners need to ask themselves if they have this much time to spare.

As the business grows, the numbers become daunting very quickly, a simple mistake made can cost a lost, not to forget penalties or loss of clients.

Hiring an accountant then is imperative. 

The Easier way?

A smart businessman would outsource this cumbersome task to save his time, money and brainpower which could rather be used to innovate and expand. 3rd party Outsourced Bookkeeping for Accountants firms know the ins and outs of different businesses. Years of experience working with varied clients allows them to provide up-to-date staff and a mistake-free financials to businesses of all sizes.

Shifting the burden of day to day accounting leaves plenty of extra room to focus on brand marketing, research, and development, which in turn fosters growth. 

A man of numbers would consider both sides of the fence before deciding how to maintain his books. 

Outsourcing costs – considering time and money would be lower than having an accounts department at under any given circumstances.

The choice then seems easy.

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

Growing your business with Outsourced accounting and book-keeping services

Performing bookkeeping on your own is a real balancing task. It is essential to maintain an up-to-date and accurate set of books but, on the other hand, it becomes a distraction from your core business functions.

Why not outsource?

Outsourcing book-keeping services saves time and money and offers you that much needed peace of mind. Outsourcing can offer businesses a lot of benefits. Not only it can save huge sums of money, it can provide owners the much needed time to grow the business and work with new clients.

Some of the ways it can help businesses are:

•High Level of Accuracy

Outsourcing ensures that the services are precise and well organized.

•Updated tools and software

The finance tools and payroll software employed by the other company are reliable and can deliver fast services.

•Actionable financial reports

You get access to regular financial reports which help you analyze your progress and keep track of your performance, profitability and drive financial growth.

•Saved Resources and Reduced Costs

Outsourcing reduces the number of employees, automatically reducing payroll expenses and benefits expenses. It eliminates the cost of training for a newly hired staff. Additionally, Zero investment in hardware, such as computers, file servers or accounting software ensures an increase in revenue.

•Complete Access to information

You get 24/7 access to all your data, regardless of whether you are in your office, home or traveling.

•Manage Less

Professional outsourcing companies take the responsibility of replacing bookkeepers and accountants who leave and conduct necessary training. So you have to manage less.

•Improved Control

You definitely get more time to focus on your core areas and with a team giving you the best results, you undoubtedly gain better control over your business.

What Outsourcing has to offer?

Outsourcing offers you a wide range of benefits which help you focus on core areas and save a big part of your expenditure on basic infrastructure and technology. The accounting work gets done faster and better and you have access to skilled resources. 

All the intricate tasks including 

• Payroll management, 

• Accounts payable, 

• Credit card reconciliations, 

• Tax reports, 

• IRS audits representation, 

• Book-keeping, 

• Strategic planning, 

• Business consultation,   

And many more are taken care of completely by the staff of outsourcing company.

Reliable, professional outsourced accounting services, and a strategic financial advice can make a huge difference in the growth chart of the accounting business. So no matter where you are at present and where you want to see yourself, having a business partner in accounting services you can trust is to be made sure of. 

Outsource your accounting services to Bikham. Contact us today!

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.