Renting vs. Buying an Accountant

By Kristen D. Berdar

Businesses of all kinds can benefit from “renting” an accountant, or outsourcing to a trusted provider. Compared to the costs and hassles of employing an  accountant, outsourcing is so easy and efficient that businesses can’t afford the alternative.

Renting vs. Buying an Accountant

Businesses today have an important decision to make: whether to rent or buy an accountant. That is, whether to outsource accounting responsibilities to an experienced firm or employ an in-house accountant.

These days, the right answer for most businesses is outsourcing — at least if your priorities are cost savings, efficiency, and superior service.

Reduce personnel and other costs

In-house accountants are expensive. It’s not just the cost of their salary and benefits. It’s also the cost of hiring, training, and managing employees, plus the costs of maintaining their office, hardware, and software.

Outsourced accounting can save you thousands of dollars every year. There’s no salary to pay, and no healthcare or other benefits to provide. Consulting firms never go on vacation or get sick. And you don’t have to purchase, fix, or maintain their equipment, which eliminates IT headaches and surprise expenses.

Streamline operations

When you outsource to a proven consulting firm, you gain access to a team of experienced experts who can recommend the latest software, payment systems, workflows, and other resources to simplify and streamline month-end closes and other operations.

It is important to note that virtual accounting is not an impersonal solution. The best outsourcing providers develop strong relationships with every business to ensure that they understand your operations and your needs. Then they devote themselves to helping you achieve your goals.

Use the latest technologies

Many businesses can’t afford to invest in the latest finance and accounting technologies, or don’t have the time or know-how to upgrade them consistently. When you outsource to a trusted provider, they provide the latest, best-of-breed technologies to give you real-time, relevant data that informs smart business decisions.

Avoid unpleasant surprises

A lot can go wrong with in-house accounting. For example, if an employee decides to take another position, or goes on leave or retires, businesses face unexpected expenses and have to shift from focusing on business growth to hiring and training a replacement. With virtual accounting, the firm is always there to support you, at whatever level you prefer, using the latest resources.

Make the transition

The financial professionals at BST offer Virtual Accounting Solutions to a wide range of retailers, franchises, and other businesses. Our team of experienced professionals understands advanced accounting practices, business processes, and workflows, so we can support your financial stability and growth. We build relationships, become trusted advisors, and provide continuous consulting to support every step of your business journey.