Outsourced bookkeeping: How it works for CPA firms?
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Outsourced bookkeeping: How it works for CPA firms?
CPA [Certified Public Accountant] firms have high responsibilities in terms of accounting. They strive to achieve the financial goals of the businesses and individuals in a very systematic way. One of the non-core and important tasks of the CPA firms is bookkeeping activities. This activity forms the base of the CPA firms where the other things depend. Surely, these firms need the trained bookkeepers who can do this service in a better and accurate way.
The importance of bookkeeping is well-known to most companies, so they strive to get better service here. These firms are now looking for other agencies that can outsource bookkeeping for CPAs. The CPA firms are already under pressure with different accounting and other related tasks like auditing, managing the payroll, accounting, financial consulting, etc. Outsourcing some part of the accounting activities like bookkeeping can relieve these CPA firms to a lot of extents.
In-house bookkeeping VS Outsourcing:
1. Overhead cost reduction
When a company does the bookkeeping activities In-house, they incur a lot of overhead costs associated with it. They need to manage the requirement of the staff, stationery, and another basic requirement of the bookkeeping activities. However, outsourcing the bookkeeping activity by CPA firms to other agencies can reduce this cost to a considerable level.
2. Leverage the technological advantage
As most of the accounting industries are using some of the other software, they make use of the software for bookkeeping too. If CPA firms outsource the bookkeeping activities to a third-party agency then they can get the benefit of the software used by these agencies. As these agencies are specialized, they will certainly use better software that can make it easier to use. So, instead of making big investments in-house for the bookkeeping activities, the CPA firms can leverage the benefit through outsourcing.
3. Increase the activities as per requirement
For CPA firms, the amount of bookkeeping activity depends on the number of clients they are working with. When there is an in-house team handling accounting activities, it becomes very difficult to go along when the number of clients increases. The increased amount of clients increases the bookkeeping activity too. Here, it becomes difficult to hire and train the new staff. Also, it can become problematic when the staff is increased and the bookkeeping activity get reduced. So, when CPA firms outsource the bookkeeping activity they can outsource as per the requirement.
4. Expect expertise work
It is difficult for the CPA firms to hire experts in bookkeeping activity handling. It may incur more cost in terms of their salary. Outsourcing the bookkeeping activities to the agency that does the bookkeeping activities has the expert staff that can handle the bookkeeping activities properly. So, you can expect expert work here.
5. Reduction in errors & Accuracy
The third-party agency can do the work with lesser errors. You can improve the accuracy of the bookkeeping activities.
Why outsourcing bookkeeping is a better option?
- Â It saves the valuable time
- Focus on main core activities for the CPA firms
- Reduction of pressure when the workload is more
- To increase the bookkeeping accuracy
Meru Accounting provides better bookkeeping services for CPA firms. Here, the CPA firms can expect accuracy in the work along with better quality.[/vc_column_text][/vc_column][/vc_row]
