More and more companies, especially those in strong expansion, rely on accounting outsourcing to better manage internal resources, optimize productivity and adapt their business according to changes in their market. Ordinary accounting is a system for recording, cataloging, and finally entering into the double-entry system of everything in the company.
By everything, we mean: payments made, payments received, payment of advances, and receipt of advances from suppliers, up to contractual commitments and security deposits given or received. In practice, keeping ordinary accounting means justifying and recording every accounting movement present in the account statement and every cash movement.
It is immediately understood that such a precise system allows you to have an updated situation of how many debts are, what the credits are, and the company’s liquidity situation (bank, cash).
Outsourcing accounting services, also known as outsourcing, involves entrusting the accounting and administration to an external company that acts in total autonomy. Many entrepreneurs believe they can do everything independently and without outside help. And you, are you sure you can manage the entire accounting without errors? How much does the internal staff cost you for training?
Doubts grip many entrepreneurs, but here you have landed in a haven.
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Who is required by law to use accounting?
For some entrepreneurs, the ordinary regime is mandatory:
- For activities other than the provision of services, such as sales, etc.
- For mixed activities, it is necessary to refer to the main activity.
For all corporations, consortia, and unrecognized associations that carry out mainly commercial activities, ordinary accounting is mandatory regardless of the number of revenues.
The benefits of business accounting outsourcing
First of all, let’s start with the economic benefits for companies, an aspect that should not be underestimated in a period in which saving is the watchword. Outsourcing accounting is cheaper than hiring in-house staff. In addition to training, you should take care of all hiring-related charges such as salaries, leaves, paid holidays, contributions, etc.
Your company probably already has an office dedicated to administration and accounting, but an external team of trained and qualified professionals can certainly offer a more efficient and updated service.
Internal resources are used to rather routine dynamics, so the company risks running aground on itself. The danger is that of concentrating exclusively on the economic aspect, losing sight of the strategic one without the possibility of growth. On the other hand, Dynamism and evolution are essential requirements for any company that always wants to keep up with changes and innovations.
And this is precisely where accounting outsourcing becomes one more arrow in your bow. An external accounting-administrative team in charge of a single activity can better identify the criticalities, weaknesses, and strengths of a company, draw up medium-long term strategies to save, and propose solutions according to the new dynamics of the market.
However, some entrepreneurs suffer from “control mania,” so they are terrified of delegating or outsourcing a service. Do you also fall into this category? No problem.
The accountant of Vienna (Buchhalter Wien) always keeps the door open to dialogue with its customers, responding in a timely and efficient manner to every question and thus dispelling any doubts.
Buchhalter Wien offers a 24-hour Customer care service always alongside the customer, who can constantly count on a reliable and professional partner.
Accounting outsourcing: less risk for your company
Sometimes errors and omissions occur within offices and companies, which negatively affect the company budget by blocking the growth of the business.
A team of experienced professionals guarantees a more careful and correct control of the budget, having no internal pressure and being able to count on experience gained in the field and a long training activity behind them.
With business outsourcing, you can count on a neutral eye that helps you see more clearly and ponder strategic choices for your business.
The accountant of Vienna (Buchhalter Wien) stands by your side as a valid ally to make the right investments at the most suitable times. You will hone your skills as a “businessman, “understanding how to optimize expenses, when to invest, when to stall, and so on. These are knowledge and skills that no one teaches you and that you can only acquire in the field, so better take advantage of the advice of experts in the sector by maximizing profits and minimizing risks.
Accounting outsourcing pays off: conclusions.
At the end of what has been said so far, we can conclude that outsourcing is the ideal choice for rapidly expanding companies that aim to expand their borders and conquer more and more markets.
The same employees are exempted from tasks that do not fall within their competencies. Therefore they work more calmly and more productively with the awareness that the administrative and accounting management is entrusted to a specialized and qualified group that operates in compliance with the regulations in force.
Furthermore, by observing with a neutral eye, the external company can identify critical issues that weigh on the company budget, such as unexpected expenses, shortages, unnecessary purchases, etc., and propose more prudent management.
The markets are constantly evolving, so it is essential to keep up with the times and rely on an external accounting company capable of dealing with all technological changes with the appropriate tools and means.
This service has become essential for any company or brand that wants to establish itself and expand in its reference market.
The work phases of a good accounting
Data collection and entry:
registration of active and passive invoices, payments, bank movements, credit card movements, registration of the first company note (when available), processing of payslips, and registration of the same in the general accounting and any other accounting document according to the rules of the accounting regime adopted.
First level control:
check that the registrations have been carried out correctly. Control of the closure of debit accounts, verification of cash results, correspondence of accounting balances to bank and credit card statements.
Second level control and analysis (often carried out together with the customer):
- Analysis of the congruency of the relative valuations of the depreciation of assets, provisions, the criteria adopted for the valuation of inventories and other assets, control of the accounting results in the light of the budget and tax policies to be objected, economic analysis result and the consequent tax burden.
- Outsourced accounting means entrusting a delicate and strategic aspect of their business to an outside company—however, all possible objections to this dissolve in the face of a simple consideration.
A specialized company has a wealth of knowledge and can hardly be requested from an internal employee. On the other hand, the outsourcer has personnel adequately trained on the subject, who is always up to date and aware of legislative changes and who can take advantage of the most innovative software.
The management of the budget outsourced and performed by competent personnel is an optimal solution that protects against risks and errors.
But that’s not all: having a pool of accounting experts at your disposal allows constant legislative monitoring and the possibility of taking advantage of personalized advice.
Remote management in the cloud will allow the company easy access to all its data, even if processed by external personnel. Thus reaching the second type of savings, usually not taken into consideration: that connected to storage space management.