If you manage a small or medium-sized business, you may have difficulty recording your business transactions and keeping track of and performing bookkeeping, accounting, tax, and other financial tasks. This could either be a result of rapid business growth, or the incapacity of the existing staff to manage financial transactions. The solution might seem pretty simple, recruit more employees and expand your accounting team. This, however, does not account for the increased costs of a full-scale accounts department that would drastically affect productivity. There is another alternative, one that would delegate your accounting responsibilities to an Edmonton accounting firm. Statistically, over 70% of businesses outsource their accounting services and over 55% of decision-makers agree on the necessity of accounting services. Let’s explore the merits of the decision to hire an accounting firm.
Increased Focus on Business
Needless to say, you delegating responsibilities away from yourself to an accounting service in Edmonton would give you the opportunity to focus on your core operations instead. All the time you spent going through each transaction and double-checking each could better be used to set your long-awaited expansion plan in motion.
Higher Cost-Effectiveness
It may surprise you that hiring an accounting firm is more cost-effective than employing an in-house team of accountants. One accountant would not suffice in the eventuality that there is further business growth and drives their workload beyond the brink. The accounting firm that you hire would surely be cheaper than maintaining employees that have their own shortcomings. By outsourcing your accounting, bookkeeping, and tax matter to an accounting firm like ATS Accounting and Tax Edmonton, you can eliminate the cost of hiring, training, and maintaining accounting staff. In fact, it has been found that outsourcing your accounting can save your company 40 to 60 percent over hiring in-house. We also offer you the option of three flat-rate packages based on your current needs.
Assured Quality of Services
The accounting firm that you choose to hire would provide quality services since this is their area of expertise. Gone are the days when an accounting error would be a major cause of concern. A professional accounting service in Edmonton tasked with managing your accounts would be far more reliable than just a couple of employees (regardless of how hard they try).
Consultation Benefits
Accounting firms provide their clients with consultancy services alongside their standard accounting services. The accounting service in Edmonton that you hire would help your business with tips to reduce your tax burden, help your business with an expansion plan, and even keep you posted with relevant regulatory changes.
Payroll Services
The frequencies with which companies are outsourcing their payroll responsibilities suggest payroll maintenance is a dreaded activity. An accounting firm always ensures that payroll management is done correctly and that payment is released on time.
Bookkeeping Services
Companies have a mixed relationship with their bookkeeping responsibilities. It is time-consuming, it needs attention to detail, it is mundane and it is a relatively low-skilled job, but at the same time it is so essential to make the correct entries and there is no margin for error since the consequences of making a mistake are unpredictable. It would be better for a specialist to handle your bookkeeping duties instead.
ATS Accounting and Tax Edmonton has experienced accountants and financial consultants who will help you manage your business’s financial tasks. Our team of dedicated experts knows the specific risks you may face and help ensure your business is protected.
Ready to get started? For more information about our accounting and tax services, book your free 15-minute consultation by calling us at 780-484-4006 or contacting us online.
