Outsourced accounting is a service that will provide your small business with a full accounting department experience without hiring an in house accountant and accounting team.
An outsourced accounting department can handle all business accounting needs, including day-to-day bookkeeping, transaction coding, accounts payable, accounts receivable, payroll and/or payroll management, financial reporting, along with several other services.
If you’re looking for an accounting department that can handle your business far beyond just its bookkeeping needs, look no further. Financial Optics can provide you with precise, professional, and thorough accounting with our Outsourced Accounting Services.
Our team can ensure that your business’ books are always in balance, up to date and accurate. We take an individualistic, comprehensive approach to accounting with each of our clients, and we will cover everything from daily bookkeeping, bill pay management, invoicing and receipts, reconciliations, and year-end reporting to cash flow management.
Whatever your business needs, we can handle. We take a hands-on approach to accounting for your business while also allowing you the flexibility and freedom to approve, change, or make any adjustments as needed. After all, it is your business and your accounting! We’re just here to make your life easier any way we can and help you use the numbers to create a better business.
No matter what service you’re looking for, we have the professional expertise necessary to understand and navigate the complexities of any financial challenges your business may face. Our team can provide you with knowledgeable guidance and help you to make informed financial decisions when it comes to your business.
It’s not uncommon for companies to outsource their business processes, including bookkeeping and accounting. You may already outsource some of your process, such as your payroll process.
If you have any experience with outsourcing, you may be familiar with some of the general benefits that outsourcing can provide your business. Outsourced accounting has benefits similar to those general benefits, as well as many others, such as:
It can be expensive and incredibly time consuming to interview, hire, train, onboard, and maintain an in-house accounting department. Let alone trying the manage the day to day operations of a highly technical business process. In addition, your business may not be large enough to warrant a full in house accounting department for its day to day financial and accounting operations.
Outsourced accounting eliminates the time and money you would have to spend in order to start or keep an in house accounting department.
It is cost effective to outsource bookkeeping functions to an expert rather than hiring an in-house bookkeeper to handle the process. An in-house bookkeeper means extra payroll costs as you would have to pay hourly or annual wages, provide benefits, and ultimately spend time managing another employee.
Outsourcing accounting services saves operational costs that could go into the growth of the business. You can increase the number of your sales staff, get more equipment, or even expand the physical facility of your business.
Outsourcing the accounting of a business to Financial Optics will ultimately earn small business owners more time and financial freedom. How? By outsourcing your accounting services, you have the freedom to work on your business while someone else handles your accounting.
Taking care of all accounting services on your own while trying to effectively run your business can be hard, stressful, and time consuming. Let us take the accounting and bookkeeping off of your place so you can spend more time actually running your business.
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.
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.
When you work with Financial Optics you don’t have to worry about hiring more hands as you expand your business.
Our outsourced accounting services offer different packages tailored to fit your business. As you increase your sales and expand your reach, all you have to do is upgrade your current plan to take care of the new demand.
Another benefit of outsourcing accounting to us is the use of online portals for financial records and bookkeeping. Unlike most traditional accountants and CPA firms, our modern and virtual approach means everything is a simple secure click away.
The use of our financial portal for accounting and bookkeeping allows our clients access to a ton of benefits. The portal offers increased accuracy and stores financial records in a centralized secure cloud storage platform. You’ll have access to your business financial records from any location, 24 hours per day and 365 days per year.
This means you can access your finances, track your transactions, and get information on your business income/expenses with a simple mouse click or phone tap. Our online portal keeps your information safe, organized, and fully accessible to anyone with permission even as our team updates the daily financial activities.
One of the amazing benefits of outsourcing accounting to Financial Optics is making smart and informed business decisions backed by accurate accounting and experienced analysis. Most outsourced accounting providers only crunch numbers and provide you with periodical reports. But here at Financial Optics, if you choose that level of service, our team is experienced and savvy enough to give you in-depth analysis to help you make important financial decisions and project the results.
With our accounts payable service, your accounts payable entries will be tracked and managed by our accounting services team. This ensures that you are doing things like paying your vendors and suppliers on time. In addition to this, we will also make sure that your balance sheet stays on track and up-to-date in real time.
Our team will also manage accounts receivable entries and invoicing for your company. This service helps you to avoid missing out on any money you are owed. For many of our clients the invoicing process is complex and requires a hands on approach from their management team. With our virtual systems this is still possible, and we can step into the process at whatever point makes sense to your business. At a minimum we help you stay on top of receivables aging and keep you informed who needs to pay you and when.
With our detailed financial reporting service, you’ll be able to stay up to date and informed on the financial health of your business. Our financial reporting includes income statements, balance sheet and cash flow reporting to help increase your awareness of cash flow and your business’s financial performance.
We will work to keep your financials air-tight and secure by checking your credit card activity to ensure that your corporate card transactions are reflected fully and correctly on your balance sheet.
Our services team will keep a close eye on your bank accounts in order to confirm that all business transactions are up to date and accurately recorded. This will help you to avoid any costly errors, discrepancies, and even fraud.
This service ensures that the correct wages, salaries, deductions, reimbursements, and more are distributed to your employees on time. If you are already set up with an outside payroll service we work with them to ensure that accurate payroll entries are made in your ledger and reflected properly on financial reports.
Outsourcing accounting functions to our team at Financial Optics gives you the opportunity of hiring financial experts that offer accounting and other advisory services for a lesser cost. You’ll enjoy a dedicated team of experts that will handle the day-to-day accounting for your business and offer other important advisory services geared to the growth and development of your business.
Financial Optics has established its reputation in accounting and bookkeeping as well as financial and business advising. We don’t just give you the numbers, we are here to help you make informed business decisions that will help you grow a more financially healthy business.
Check out all of the financial services we offer, tailored to suit your business and help you grow here.
Why not book a free 1-hour consultation session with our experts and let’s discuss your business? It’s free! Let’s show you how you can improve your business by outsourcing accounting to the right team.