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Outsourcing Brings Value to Bookkeeping Services
Bookkeeping tends to be low gross profit margin work and it is virtually impossible to find qualified bookkeepers. There are a number of firms that decided long ago to give up their bookkeeping practices. Most firms find that they are making little or no profit on their bookkeeping engagements. And with the advent of QuickBooks, clients often felt that they could do their own bookkeeping, until they received the accountants year-end bills to clean up their mistakes!
Once the bookkeeping is completed, we send the source document files back to you, indexed and annotated, along with the completed QuickBooks file for the month, quarter and year. The QuickBooks file is then reviewed by your in-house bookkeeper before the financials are mailed to the client. It’s that EASY!
With the low cost structure of outsourcing, developing or buying a bookkeeping practice can bring new life into your practice. By outsourcing both the bookkeeping and year end tax preparation you can reap up to 50% gross profit margins per engagement. In addition, since you are looking at the information on a monthly or quarterly basis, you are shifting work from the busy time of the year (spent cleaning up their messy QuickBooks files) to what typically is the slow time of the year. Adding revenue and value to your practice.
Would you rather be working on high demand, less profitable and more risk exposed audit and financial statement clients or working on less demanding, high gross profit margin and virtually risk adverse bookkeeping clients?