For small and growing companies, a CPA is vital to its long-term success. A CPA not only keeps the financial payroll, tax liabilities and tax planning running smoothly and submitted on time, the accountant also is consulted over matters related to business opportunities, financial projections, audits, personal and business financial planning and estate planning. Wouldn’t it be ideal to have the CPA work in-house to consult whenever a need arises?
However, retaining an in-house CPA as a Chief Financial Officer (CFO) or finance manager is often not a feasible option for smaller businesses as it is for large corporations who can pay such a salaried position. Therefore, an excellent option is to retain the services of a qualified CPA and outsource the responsibility to the services provided by a reputable CPA firm.
Why should I outsource to a CPA?
The importance of producing error-free financial statements compiled and submitted in a timely manner cannot be emphasized enough. It is a critical part of growing a successful business. Using a professional, knowledgeable and competent CPA firm will save time and money long-term by avoiding IRS fines and penalties. Also, retaining a qualified, outsourced CPA who works independently of the company is an excellent solution for new and small organizations that have limited working capital.
Benefits of Outsourcing
There are many advantages to using the expertise of a CPA as an outsourced CFO:
- Accuracy – outsourcing to a professional brings high-level credibility to your business and its functions
- Investor Confidence – it shows investors that your business has professional backing and transparency
- Efficiency – less time and cost to your organization to produce work that can be outsourced to a professional CPA and accomplished in less time
- Timely Outcomes – Deadlines are met on-time with accuracy
- Cost-Effective when compared to retaining an in-house salaried position
- Checks and Balances to reduce the risk of fraud by staff within the business or organization
- Latest technology – an outsourcer will have access to the most up-to-date ways to make your process run more efficiently
- Safe Accounting Practices – using an off-site location to generate ensures confidentiality within your organization and ensures the most recent laws and regulations are followed
- Professional Consulting available on an as-needed basis by the business, therefore cutting costs within the organization for the need of a permanent position
Retaining a Utah Certified Public Accountant as an outsourced CFO is an excellent way to take any organization to the next professional level. Consult with me at 801-830-5305 to see how your business can benefit from my experience and high customer satisfaction.
