December 7, 2021
Accounting, Business, Insight article
Authored By GreerWalker
Outsourcing the accounting for your business can be an excellent way to balance a limited operating budget with the level of financial insight needed to expand your reach and grow your customer base. Whether you’re facing problems with your current accounting process or just want to be more proactive, it’s never too late (or soon) to research providers.
GreerWalker is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries. Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise, and technical resources. For more information on how GreerWalker can assist you, please call (704) 377-0239.
We know what you’re thinking, “Why do I need a new accounting provider? We could just do it ourselves.” That’s true, but giving your accounting to untrained employees can cost you time and money in the long run.
Our clients come to us with a number of reasons they‘re ready to commit to our payroll services. Here are a few of the big issues:
Too much time spent on bookkeeping
If you’re the leader of your organization, you’re used to doing a little bit of everything. It’s okay to spend some time taking care of the bookkeeping, but this can become a problem when it takes you away from other tasks. If accounting is consuming more and more of your time, you aren’t able to focus on growing your business.
You want better financial insight
Businesses need clear financial insight so they can demonstrate financial viability to potential stakeholders. This can be difficult to ensure when you’re worried about figuring out the basics of financial management. With outsourced accounting, you can gain better financial insight for yourself, your board, your investors, and your customers.
Your accounting employee is leaving your organization
If you’ve always relied on a key employee to take care of your accounting and they’re planning to leave, you may consider outsourcing rather than hiring a new employee. Outsourcing eliminates having to hire an employee, pay for benefits, manage and train them, and worry about them leaving as well. Not only is outsourcing easier, but you can also often fill multiple roles for the same cost as hiring one financial employee.
You’re just getting started
Accounting for a startup can be a huge challenge. If you’re in the process of starting a business, this can be the perfect opportunity to outsource and ensure your finances are set up properly from the very beginning. If anything, the infancy of your organization is the most important time to get your finances right so you don’t find yourself in the red before you’ve even really begun. In addition, outsourcing to a firm like GreerWalker means they’ll help you navigate GAAP guidelines and assist you in case of an audit.
You’ve outgrown your current accounting software
If you’re shopping for new accounting software, this is a good time to think about outsourcing your accounting. An accounting firm can set up and manage your financial software, so all you need to do is login and monitor everything when and where you want. This helps you avoid significant costs and time to research, implement, upgrade, support, maintain and train users on accounting software.
If any of these issues ring true for your business or organization, it’s definitely time to think about bringing in a third-party provider. With our highly customized level of service, GreerWalker can provide you with valuable expertise and personalized insight developed over years of working with small businesses just like yours.