Once you decided to outsource, the next step should be to choose an outsourcing company that will be a great fit with your goals and objectives, but most importantly, would be able to match your needs and requirements. We believe, when outsourcing bookkeeping and accounting services, the quality of performance and efficiency must be the top priority. However, few more important factors must be considered as well.
What service you are in need. Is to prepare the end of the month reports, balance sheets, payroll services, reporting to authorities or taking care of your account payables and receivables? You maybe need someone to prepare your bank reconciliations and analysis or just enter the data into the accounting software? Whatever it would be, you need to be clear on what you do personally, what your in- house staff is responsible for and what you want someone else to do.
Competitive cost range. Every accounting and bookkeeping company have their payment schemes – some of them charge by the hour, others monthly. Therefore, you can choose the payment term that suits your needs and budget the most, but do not make your decision only based on the cost effectiveness.
Expertise. Make sure, that the company you want to hire is experienced, professional and has the right qualifications. Remember you can always ask for some recommendations from their previous or existing clients, look at their reputation in the market, financial stability, but most importantly, their ability to deliver high quality and consistent results.
Data security. In our opinion, data security plays an important part when outsourcing accounting services online. The highly respectable firm handles their clients’ data with most required privacy and ensures that each transaction is secure. It is important, because you will be not only communicating cash flow information to them but also confidential data.
Flexible service level agreement. The company you want to work with must be flexible enough to use the latest accounting software, such as the advanced spreadsheets, e-conomic, Dinero, , SAP, Navision, QuickBooks, and Xero, that will be compatible with your type of work. Also, it must show their flexibility and desire to match your future needs and requirements. Besides, we suggest checking the term and conditions before you sign the contract, so you will be aware of how to terminate the agreement if you are not satisfied with their work.