Decreased Errors and Increased Accuracy
Hiring an in-house accounting team involves a lot of training – everything from onboarding to getting your accountant or accounting team familiar with your industry and your business. Even more training and potential risk is involved when business owners “outsource” their accounting functions to family members or people who do accounting on the side.
Family accountants come with many hidden expenses like the time needed for oversight, costly errors that an expert would not make, the lack of formal training for compliance purposes, and the missed opportunities from not having an expert with decades of experience performing the accounting activities.
The experience is completely different when you outsource your accounting functions to Financial Optics. In-house and family accountants need a certain marginal time to “adapt” to the nature of your business and this could lead to errors that impact on operational costs. We have decades of experience working with many different types of businesses, so we’ve seen and handled a lot of different situations.
We can offer accuracy from the start of operations. We use automated systems and models that suit your business to track and keep financial records in order. We have processes for double and triple-checking transactions and records for accuracy, thus the chances of errors or oversight are almost non-existent.
Small businesses can take advantage of our outsourced accounting services to improve their operations and reduce losses due to financial mismanagements.
Access to Periodic Detailed Financial Reports
Small business owners will have access to regularly updated financial reports to keep track of their income and expenses when they outsource accounting to Financial Optics. We’ll keep you informed and educate you on key matters like your business’s cash flow, income projections, key performance indicators, and advise you on major financial decisions.
This function comes in handy when you wish to share this information with your employees, partners, creditors, and/or legal counsel.
You’ll also get qualitative insight into your operations expenses, profits, and revenue from time to time to equip you with the financial knowledge so that you can control your business finances and have a solid foundation for the future of your business.