Understanding Accounting Outsourcing

#1 Accounting Myth

Accounting is about math. If you want to get paid, you will have to calculate the amount you are owed, the change if paid in cash, your commission percentage, etc. Accounting is accounting for assets, liabilities, income, expenses, etc...

#2 Accounting Myth

Accountant = Tax Preparer or IRS Agent. Understand that when you enter a major tax franchise or chain your taxes are most likely being prepared by a trained "tax preparer" NOT an accountant. The true definition of an accountant is one who has a degree in Accounting.

#3 Accounting Myth

Accounting is for Men only.

#4 Accounting Myth

Even a tax accountant has to be a people-person. We all have to work with clients, employees, vendors, client's customers, etc. I have 2 small children, a husband (business partner), employees, family, friends, clubs and organization meetings and the list goes on. If I have time to take care of chores, this is a perk in the week.

#5 Accounting Myth

Ok, so this means that as a small business owner, you would say that you don't need to budget, forecast financials, know about trends in your business, or know the latest, greatest tax advantages.

Every business needs an accountant watching their back. A business cannot and should not be run based on whether or not there is cash in the bank at that current time.

#6 Accounting Myth

Well, this might be the case if you go to a high-dollar firm, but while looking for an attorney, if you retain the services of Robert Shapiro, it wouldn't be cheap either. Check references, qualifications, and services.

#7 Accounting Myth

I pay business expenses out of my own pocket. If you own or operate a business, it is a business, not your spouse.

#8 Accounting Myth

No matter the industry, changing times can cause chaos and in many cases put a company out of business if they do not stay up-to-date with trends, technology, and consumer information.

#9 Accounting Myth

I really don't need accounting reports to know how my business is doing. If you are busy, this does not mean that your business is doing well. You need to run reports to show problem areas like theft, loss, waste, profitable areas, etc.

In the service industries, reports can show how time is allocated.

#10 Accounting Myth

I can handle my accounting myself. You can be wonderful in business but unless you know how to operate the accounting side of your business perfectly, you should really do yourself a favor and at least get advice from an accountant on this process.

If you don't book discounts or refunds correctly, you missed out on another tax deduction. Our services maintain our business and we give the best service possible.

Top 10 Accounting Myths

Running a business has always been a difficult thing. A business owner knows what exactly it takes to make a business successful. Running a business has never been an easy task and this is a known fact in today’s time. Finance is the most crucial aspect of any business and therefore, the finance department or the accounts department is given the most importance in any organization. Accounting or in other words, bookkeeping is s huge thing. Professionals working in firms that provide accounting outsourcing services are CPAs and are thorough with their work. You will obviously have to be careful while selecting the firm because it is your business and you cannot really see something bad happening to your business. The firms who provide accounting outsourcing services make sure that they use softwares that are meant for this particular work.