Why CPA Firms Should Avoid To Build In-house Accounting Team To Grown Their Business?
CPA firms are required to work extremely hard to build and retain a well-managed core accounting team with expertise and experienced ample to implement accounting and bookkeeping practices. But this is the time that CPA firms can avoid to build an In-house team, and instead can focus on growing their business. Ever evolving accounting and bookkeeping industry has become competitive more than ever for CPA firms.
So as to keep pace with the competition, while handling client demands at reasonable rates and regulatory compliances of IRS; they are likewise required to be adaptable in their work routines. It should not come as a surprise that CPAs get overworked with routine tasks including bookkeeping, payroll accounting, and filing tax returns, which are time-consuming and not at all profitable and productive. So in such a scenario, should CPAs build the virtual team, in order to manage everything effectively and efficiently?
YES, CPA firms should hire remote staff for bookkeeping and accounting task. Bookkeeping is a basically time-consuming task, and though simple but not that rewarding, it needs exceptional expertise and experience to be done correctly. This makes it more than vital that CPA firms should take support from a reliable virtual accounting professional to save time and money both. Remote staffing is now onboard for a small and mid-sized accounting firm to serve remote staff as per business needs. Their onboard best accounting and bookkeeping professionals, understand the importance of paying due attention to details.
Remote staffing ultimately empowers CPAs to invest their time and efforts more efficiently and focus on several other activities such as investments, wealth planning, financial disclosures, tax planning, canvassing for themselves and increase the number of clients. Let’s check out some more benefits of hiring virtual/remote staff from staffing company for CPAs:
- Initial capital investment for infrastructure, staff expenses and a lot more is not required to be done by CPA firms.
- This gives you the levy as a CPA firm to take up clients who manage their accounting and bookkeeping with help of software, which you do not use – but remote staffing have trained team, who capable of working on various software including QuickBooks, XERO, ManageMart, Clear Books, SlickPie, SAGE Accounting, IRIS, LedgerLite, etc.
- The accuracy and proficiency of accounting and bookkeeping tasks increase significantly and decreases the chances of errors, as remote staffing allows you to interview and test candidate skill level at the time of hiring.
- Reduce overheads cost: Office space, electricity, software/hardware, employee benefits, food & drink allowances etc.
- Hiring a virtual bookkeeper provides you with the same level of expertise and service but without the employment burden costs such as benefits, training costs and more.
- Remote staff/Virtual Employee will save anything from 60% to 70% of the overall cost if compared to hiring in-house accountants and bookkeepers.
Remote staffing is very differing from an outsourcing company. In outsourcing, you will never know who is working on your stuff. While hiring remote staff you actually get connected with the employee who will only be dedicated to you, same as an in-house local staff. Offshore Staffing allows you to hire an accountant, bookkeeper, Sr. tax preparer, data entry expert for full time, part time or temporary basis, depends on your staffing needs. However, the count of small and mid-sized accounting & CPA firms hire remote/virtual staff from staffing agency is increasing consistently as a remote staff is the best option.
Entigrity™ is a trusted offshore staffing partner to over 500+ accountants, CPAs and tax firms across the US and Canada. Our flexible and transparent hiring model gives helps firms of all sizes to hire staff for accounting, bookkeeping, tax preparation or any other task for 75% less cost. As a firm 'run by accountants, for the accountants', Entigrity captures the hiring needs of accounting firms most precisely, providing staff that works directly under your control and management, still you are left with least to worry about compliance, payroll taxes, overheads or any other benefits.