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Outsourced and Managed Accounting Services

Aiding clients across industries with outsourced accounting services, bookkeeping, and virtual accountants

Icon for Accounting ServicesSee if this sounds like your organization: Your field changes constantly and moves at the speed of light.  To remain ahead of the competition your operation must remain flexible and make sound strategic decisions quickly.  You are spending most of your time managing your staff and working out ways to stay near the top of the pack in your industry.  That leaves very little time for you to make sure your accounting staff is keeping up with the many changes in regulations that come through annually and to focus on better financial strategy and procedures.

If that situation sounds too familiar, don’t feel lonely.  Most of our clients had the same problem before they outsourced their accounting services to us.  Now they breathe a sigh of relief throughout and at the end of every month, knowing that our professional accounting staff is taking care of transactional, reconciliation, and financial statement preparation services to satisfy their requirements.

We offer a full range of accounting outsourcing, including bookkeeping services, virtual accountants, outsourced CFO and Controller, payroll processing, and taxes. For smaller businesses we offer complete outsourcing of their accounting operations. For mid-size businesses we offer complete outsourcing or a managed accounting solution, in which we oversee and manage the firm's internal accounting function -- providing guidance and advice on how to improve procedures and outcomes.

How It Works

When You Outsource Accounting Functions

1

Database

You'll choose whether to have us host your accounting database or to host it yourself.

2

Access

You'll give us your database or access to your transactions, if you maintain the data.

3

Processing

We'll manage your accounting system and process transactions.

4

Review

We'll meet with you regularly to review financial statements and tax liabilities, answer questions, and make recommendations.

Why Choose Outsourced or Managed Accounting Services?

The simple answer is to save money and focus on what your organization does best.  A recent Outsourcing Institute member survey found five main reasons why clients outsourced their accounting functions:

  • Reduce and control operating costs.
  • Improve company focus on core competencies and growth.
  • Gain access to world-class capabilities.
  • Free internal resources for other purposes.
  • Obtain resources that are not available internally.

The CPA Department maintains the expertise necessary to navigate clients through the maze of changing regulations and expectations from government agencies.  Because our focus is on these details, we can manage or completely handle all of our clients’ accounting in a more efficient manner than they can do so themselves.

This in turn leads to predictable costs that clients realize from our fixed monthly fees, and savings from not needing as many (or any) internal accounting staff and related overhead.  On top of that they don’t have to spend the time or go through the effort to recruit, hire, and train new accounting staff.

In addition many clients can’t justify maintaining a full-time CFO or Controller.  This level of expertise isn’t needed on a daily basis, but is required for high-level tasks and occasions, such as presenting to the board of directors, negotiating with bankers and finance sources, planning mergers or major equipment purchases, and analyzing or interpreting results for stakeholders and shareholders.  Many of our clients call on us to handle their part-time CFO or Controller function.  To learn more, please click to this page:  Outsourced CFO Services.

Our most popular services are day-to-day, month-to-month bookkeeping and accounting services that include what every business needs:

  • Monthly, Quarterly or Annual accounting services and financial statement preparation
  • General Ledger Account Reconciliations
  • Payroll Processing
  • Vendor Bill Payment
  • Customer Invoicing
  • Fixed Asset Tracking and Depreciation
  • Business Property Tax Returns
  • Sales and Use Tax Returns
  • Business and Personal Income Tax Returns

We also specialize in accounting system support and integration – meaning we can help you evaluate your current accounting system and whether its adequately meeting your needs.  We can also help you identify new systems if it’s time to move to a more or less sophisticated accounting system.  We will assist you in the setup and implementation of a new system, and incorporate our accounting services, and your internal procedures,  into your chosen accounting system.

So if you find you are working harder to stay ahead, or even falling behind, because of administrative responsibilities, please consider talking to us about our virtual bookkeeping services and accounting outsourcing. 

See the panel above on "How it Works."  Then ask for a free consultation to learn how we might help.

FAQs

These are the most frequently asked questions about this topic.  If you can't find your answer here, please contact us for more information.

Q: What is outsourced or managed accounting?

A: Outsourced or managed accounting is the practice of hiring an outside partner to provide accounting and finance services, or management of those services.

Q: How does outsourcing the accounting function benefit me?

A: When hiring an individual employee, companies are invested in the skill sets of that individual. When hiring an outside company with multiple CPAs and staff, clients benefit from the combined knowledge and skill sets of the larger team. We specialize in the accounting and finance function, freeing our clients to focus on running their operations.

Q: Why would a business or organization decide to outsource?

A: Here are some typical reasons for outsourcing accounting functions: • Changing, new or complex accounting requirements • Resignation of a key employee - outsourcing avoids the recruitment/training effort • Employee dishonesty or fraud resulting in termination of employee • Business growth brings transaction volumes that existing staff can't handle • Recognition that outsourcing can improve results (faster collection of receivables, higher level of vendor financing from effective management of payables, etc.) • Short-term need of an administrative or financial management business process to support a project, cover for maternity leave, illness or military service, business restructuring or location startup

Q: Do you provide just bookkeeping services?

A: No, unlike our competition, our services are not limited to bookkeeping. We are CPAs and career accountants, providing full service, cash and accrual-based accounting services for simple to complex businesses. We also provide tax preparation and audit support, CFO services, and DCAA Compliance services to government contractors.

Q: If I already have an external bookkeeper, why would I want to outsource?

A: A bookkeeper posts transactions to the accounting records. As CPAs and career accountants, we work with your bookkeeper to improve processes, cash flow and take a proactive role in operating accounting functions.

Q: Will you pay our bills for us? Invoice our clients? Process payroll?

A: Yes, we offer all of these services to our clients.

Q: What software do you use?

A: We are experienced accountants, proficient in numerous software packages. Many of our competitors limit their services to the use of QuickBooks, Xero, and similar software. While we can and do work with this software, it’s not practical for all clients. We also support multiple additional accounting software, including Microsoft Dynamics Nav, Microsoft Dynamics SL, Procas, Deltek, and Jamis, among others. If you have specific software needs, please contact us.

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Contact Us to Learn More

Find out how we can help you with your accounting, taxes, or financial consulting. Call 703-729-2882, send us a message below, or Click Here for all our contact details.

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