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Businesses today are nimble and cost efficient. Paying for an in-house accountant is becoming a thing of the past, especially with today’s advances in technology. What we find interesting is that using an outsourced accounting service isn’t just for small businesses anymore. It’s not uncommon to see multi-million dollar enterprises turning to more affordable and efficient solutions as well.
Most business owners find themselves asking the following question…”Is my company a good fit for it, or should I hire an in-house accountant?” Not every business is a good fit. One example is if your business requires a high degree of in-person customer contact from your bookkeeper. Few businesses need their bookkeeper interfacing with the client face-to-face constantly, but if your business is this way, you may need to go with someone in-house.
While it’s true that outsourcing the books is not the right path for every company, here are a few benefits to consider:
- You can sleep at night knowing the numbers are correct, and that you didn’t pay an arm and a leg to make them so.
- You avoid the nightmares of hiring in-house staff
- You get consistent updates and reports on a daily, weekly, or monthly basis.
- You get to spend the majority of your time growing your business
- You get to make your business financially nimble. The money you save can be reinvested elsewhere.
If you do decide to look into outsourcing, you should do your homework first. There are a lot of accountants out there, and they’re not all created equal. Before you allow someone to enter your financial domain and mange it, you’ll want to make sure that the accountant is qualified, capable of being there for you when you need them, and generally fits the feel and muster of your organization.
When hiring an outsourced accounting service, we suggest that you ask the following questions:
- Are you professionally insured?
- How long have you been in business?
- How many employees work at your firm and how many clients do you have?
- What industries do you serve best?
- What is your turn around time for getting a request completed?
- What accounting software do you use?
- What happens if I leave your firm? How will my financial records be returned to me?
- Is there a long term contract?
- Are there set up fees?
- Do you charge hourly or do you charge per project?
We also provide other services such as Immigration Malaysia, Malaysia My Second Home, Accounting Malaysia, Company Registration Malaysia, Business Registration Malaysia, Payroll in Malaysia. Call us now +603-20789990 or visit our website www.BeyondCorporateGroup.com for more information!