Under the right circumstances, outsourcing saves time and money. This doesn’t mean it’s always the best option. Ann Irons, CPA shares tips to help real estate lawyers choose whether to outsource important business functions, such as outsourced accounting in Bellingham, MA.

Commonly Outsourced Business Functions

Until recently, accounting and bookkeeping were the only functions that business owners and practice managers considered appropriate for outsourcing. Today, there are far more opportunities to outsource, including:

• Web design and social media
• Payroll
• IT and tech support
• Marketing
• Risk management
• Reception and secretarial

When conducting business, it’s been said that every penny counts. One could argue that this holds especially true for those who operate nonprofit businesses. Competition for federal funding and contributions by private donors have hit nonprofits hard over the previous few years, leaving them scrambling for ways to cut costs and improve efficiency. Outsourced accounting services in Bellingham, MA help your company achieve its goals with minimal disruption and expense. Ann Irons, CPA highlights important questions to ask as you decide whether to pursue outsourcing.

“What level of expertise can our current staff provide?”

A limited budget compels many smaller nonprofits to hire generalists, employees who are expected to perform several functions across multiple departments. While this reduces expenses for wages, it also means that not all of these functions are afforded the same expertise and attention. Accounting is one area in which no business should shortchange itself, yet we see it happen often. Anyone working in accounting should have more than a basic understanding of GAAP and financial reports. Equally important is an awareness of current regulations and reporting requirements, which often change from one year to the next.

To most small business owners, the concept of payroll seems simple enough. Your employees work, you cut a check. Right?