Outsourced Accounting: Why It’s Important for Small Businesses

Many businesses choose to hire – or train – an in-house accountant. What you might not know is that outsourcing your accounting might be the very thing that pushes your business to the next level. Having an in-house accounting department is something that not many businesses can afford to do or maintain from the start, and hiring an outsourced accountant is a great solution.

When you’re thinking about outsourcing your accounting, keep in mind that you’re not restricted to your local accounting firms. Many outsourced accountants operate via a virtual accounting and bookkeeping firm instead of a brick-and-mortar location.

What Does an Outsourced Accountant Do?

When you hire an outsourced accountant, you are essentially hiring an accounting firm (not one person), like ours, to take care of several tasks. An outsourced accountant takes care of bookkeeping, bank reconciliation, reporting monthly financials, and billing, such as accounts payable and accounts receivable.

Thanks to the flexibility of an outsourced accounting firm, your services each month can vary based on your business’s needs such as including additional reports like forecasting cash flow, creating projections, and even creating a budget during periods of quick or slow growth.

How is Accounting Handled Virtually?

As ModVentures is a virtual firm, all of our services as an outsourced accountant are compatible with ever-changing technology. All documents are uploaded to our website’s secure Cloud and from there, our accountants and clients have access to everything needed for a smooth accounting system. 

This Cloud system is convenient for all parties simply because you can access your documents from any device. Additionally, paperless systems are much more cost-effective as well as environmentally sound. This system is also just one of the many ways that we keep accounts secure during our work.

Is ModVentures the Right Outsourced Accountant for You?

Our firm is your best option for an outsourced accounting department because of our virtual systems as well as our ability to tailor our systems to your needs. Rather than having a blanketed list of offerings, our services come with several ways to customize. Another bonus for you is that we work in a team setting, so there is always an accountant ready to provide answers to your questions and keep you updated on your account status. In this way, we are able to work effectively and sufficiently to the needs of our clients.

If you have been considering an outsourced accountant so that you can spend more time doing what you love (growing your business!) we recommend you reach out. We would love to partner with you! Contact us through our online form or give us a call.