If you own a small business or start-up, then virtual accounting is a no-brainer. Every new employee will cause a significant financial impact when a company is small, so it makes sense to hire some outside specialists.
But what if you own a much larger company? Is it still a good idea to invest in virtual accounting services? We think so, regardless of company size. But don’t worry, we have some good reasons:
Bigger rarely means “more efficient”
In fact, it usually means the opposite. The US Government is one of the largest employers in the world, and it usually runs about as smoothly as a car with concrete tires. And the larger your company is, the more employees you have to worry about. Every additional employee means more numbers on the spreadsheet, which increases the chances for human error.
But it doesn’t even have to be a mistake that sinks you – your system could simply be inefficient. What if your accounting department gets bogged down with sexual harassment training, benefits meetings, etc.? After all, these are regular, full-time employees with regular day-to-day tasks. And if an accountant is sick for an extended period of time? Now you’ve got to hire a substitute and get them trained. See how easily it gets out of hand?
Virtual accounting makes your finances top priority
Why do companies outsource jobs? In order to save time and money. And with virtual accounting services, you’re basically outsourcing your entire accounting department. But don’t worry – we’re not sending these jobs to some third-world country. You’ll be working with accounting experts right here in the United States; they’re merely working virtually. And since they specialize in accounting, this is the only matter they’ll focus on. That ensures top notch efficiency and attention to detail, which is pretty important whenever the IRS is involved.
You don’t have to stop with virtual accounting
A virtual firm can usually handle a variety of regular business tasks, such as payroll and other HR functions. A virtual accounting firm will have access to qualified professionals who can assist with these additional responsibilities. And again, we’re held completely responsible for all of these decisions. Which means if the IRS does come knocking, we’ll be your first line of defense; and we know how to avoid painful tax penalties.
It saves you time, money and liability
Let’s be honest: liability is a real concern in the business world. More employees means more responsibility and potential liability for the employer. We understand you want to grow, but shouldn’t you hire creative folks or marketing specialists? Why waste a spot on someone who merely needs to perform menial office tasks, when there’s a perfectly viable alternative available? Hire someone who can help your company specifically, not an office drone who’s just there to add up numbers.