Accounting services: Lower your costs and risks.
As soon as your company starts to grow and enters new markets, the question arises, whether you should outsource accounting.
In fact, there are many reasons why you should leave this job to specialized agencies. Outsourcing your accounting does not only save costs, it also leads to better results
Outsourced accounting may reduce costs by up to 50 percent
With accounting requirements now more complex than ever, many companies see the need to outsource their payroll accounting and bookkeeping.
Tax laws are constantly changing, and digital financial accounting and payroll accounting is now common in many companies. The good old times, when the company boss or an office worker recorded receipts and prepared balance sheets, are over for most companies.
By outsourcing their accounting to a specialist, companies can concentrate on their core business. No company can differentiate itself from its competitors through accounting. The outsourced accounting service can replace a specialized in-house employee. This way, businesses may save not only wages and labour costs, but also avoid investments in employee training and specialized accounting software. Companies that outsource their accounting, may reduce costs by an average of 20 to 50 percent.
Accounting services also cover communication with authorities
For payroll accounting in particular, outsourcing can be a practical solution for your company to comply with accounting regulations.
Reliable and professional accounting service partners like RBO operate as a one-stop shop for your accounting questions and concerns in your everyday operation, and take over the task of liaising and communicating with health insurance funds, authorities, trade associations, Soka Bau and other public organizations.
Outsourcing all accounting tasks may also be worthwhile for many companies, especially for those that must include income statements, cash flow statements and balance sheets in their financial reports. Proper accounting is the basis for complete and accurate annual financial statements and tax returns. Anyone trying to prepare acconting statements and documents without qualified experts and specialists in the company is risking hefty fines from the tax authorities.
Outsourcing: Accounting and tax advisory services from a single source
Please note that a simple bookkeeping service provider is not allowed to prepare annual financial statements, i.e. the statements prepared must be reviewed and approved by an auditor or tax advisor.
It is therefore highly advisable to hire an accounting service provider like RBO that also operates as a tax advisor. Your entire accounting is going to be in one hand. In addition, as an experienced accounting service provider and tax advisor, RBO can give you valuable tips and advice on a daily basis on how to save taxes and how to protect your interests when dealing with public authorities.
Outsourced service mitigates risk for company owners
Outsourcing your accounting to a third party service provider can also be part of your company’s risk management strategy.
After all, errors in payroll accounting or annual reports may result in substantial amounts owned to the social security and/or tax administration, or even fines or criminal charges. Given that outsourcing significantly improves the quality of accounting, your risk of liability decreases. Outsourced accounting service providers can save you from any claims or damages resulting from accounting errors.
Outsourcing of your financial and payroll accounting has become a simple process. A modern accounting service provider such as RBO provides digital accounting services, under which you can easily share invocies, statements, reports and accounting documents online.