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Outsource your accounting: the unobvious advantages of such a choice

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4/13/2023

Outsourced accounting, widespread in the Western world, is winning ground slowly in Georgia.

Many businessmen are still confident that the accountant should sit in the next room - it seems safer and more reliable.

Let's analyse the advantages of outsourcing accounting that you deprive yourself of by following the usual format.

Outsource your accounting: the benefits of refusal of an in-house bookkeeper

When it comes to outsourced accounting, the first thing that usually comes to mind is the price.

That is a fact - remote accounting is cheaper than a full-time employee by ten folds. Here's why:

The cost of the outsorcerer's service is lower than the accountant's salary.
No need to make deductions to funds, or pay for sick leave and vacations. 
No need to allocate space in the office, equip it, buy office supplies, to maintain office equipment. 
Document flow with counterparties is conducted electronically, which eliminates the cost of couriers and postal services.

Saving is an important, but not the only advantage.

The decision to outsource your accounting will also allow you to:

  • Forget about paying penalties out of your pocket. Serious firms have insurance against mistakes by any of their employees. At Jara Accounting, for example, we ensure everyone we serve is at the amount of USD 65,000.
  • Don't get attached to one person. A lot happened in the practice of our customers: in-house accountants moved to other cities and countries, outsourced accountants stopped answering the phone after making a mistake, and so on. And just an accountant on vacation or sick leave can be a disaster - if all the processes are tied with him/her, you have to wait, which can affect relationships with clients and partners. If you work with a firm, there is nothing to worry about - a specialist who falls ill or goes on vacation will be replaced by a colleague with similar qualifications.
  • Get better services. No matter how professional an accountant is, he can't know everything. We have a team of three specialists working with each client: tax, payroll, and supporting documents. If an accountant is not sure about something, he/she can always consult with colleagues and find a solution. 
  • Do not worry about missing deadlines and problems with the tax authorities. First, as we wrote above, the outsourcer- company must have insurance. Second, compliance with deadlines is strictly monitored. At Jara Accounting, each customer is assigned a client manager who makes sure that the reports are submitted on time.
  • Additional control is provided by the software. Communicate with an accountant seldom, quickly, and only on business. We don't force entrepreneurs to bring in documents, meet with accountants, or talk to them on the phone. Interaction happens in the chat of the mobile application and by mail: it is enough to send scans and confirm payments in due time. We sign everything with an electronic signature. 
  • Adjust accounting expenses. If activities have stopped or turnovers have fallen dramatically, you should pay a salary to an in-house accountant. The cost of outsourcing company services depends on the volume of tasks - if they grow less, you can choose another rate and reduce costs.

If you decide to outsource your accounting, you must take responsibility for the selection of the person to whom you entrust your company's finances. Let's see what's worth special attention.

Who to trust the outsourced accounting

Ask all candidates these questions:

Is there any insurance against errors and for what amount?

Does the team consist of accountants with experience in your field (e.g., online stores or restaurants)?

What does the cost of services depend on? It is important that in the event of a business interruption (for example, seasonal) you do not have to pay the outsourcer in full.

How is the process of interaction with the accountant? Think about whether it is convenient for you.

Look for feedback from those who have worked with the chosen companies. If you can't find anything in the public domain, ask the manager if you can contact any of the customers. Usually, it is possible to talk to other customers, with their permission, of course.

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