Freedomtax Accounting’s staff has been providing accounting services in Orlando and Kissimmee for 15 years, and we know that managing your business accounts, no matter what the nature of your business is, can be a difficult task. Not only can it take up a lot of your time but it can also be risky in case you make a mistake. Therefore, having a professional accountant handle your books is always the best thing to do. However, it is completely up to you whether you decide to hire an in-house accountant or outsource the service to an accounting firm. If the option of outsourcing interests you, here are some pros and cons you should consider before going for this option:
Pros of Outsourced Accounting Services Orlando
If you are planning to outsource your accounting services Orlando FL to a dependable and professional accounting firm, here are certain advantages that you can get:
Outsourced accounting services Orlando FL are much more cost-effective than having an in-house accountant. There are several different types of costs that can be saved if you are outsourcing. First, you would not be required to invest on the hardware and software requirements such as PCs, furniture and software etc. Second, you can pay these accounting services Orlando FL providers according to projects completed or hours worked. Last, you can save up on paying employee benefits such as payroll taxes and insurances to these people since they are not on your payroll.
Another major benefit of outsourcing accounting services Orlando FL is the higher level of expertise and accountability they offer. Since these people specialize in financial management, they can provide much better services at quite lower costs. Moreover, these people have higher liability to provide complete accuracy compared to the in-house staff, reducing the financial risk for your business.
Another advantage of outsourcing accounting services Orlando FL is the amount of time you can save. Hiring and managing in-house accountants can take up a lot of your time and effort, delaying your work for some time. With outsourced services, you can start having your books managed right away without going through the hassle of employee management. All the time you spend in getting the right employees or managing your own books can be devoted towards growing your business.
Cons of Outsourced Accounting Services Orlando
While outsourcing has its own benefits, there are good reasons why some companies still prefer having in-house accounting professionals on their payroll. Here are some cons of outsourcing accounting services Orlando FL that should be carefully considered along with the pros before a decision is made:
The biggest disadvantage you can have in outsourcing is the limited amount of control you have over the process. While you manage the employees in your in-house accounting department just the way you want, you cannot have any control over the employees working for these accounting services Orlando FL providers.
Another major risk that is often faced by companies that outsource their accounting services Orlando FL is that of security. While some accounting companies are quite reliable and offer the highest level of security, taking personal liability in case of any damages, not all of them are good enough to be trusted with the financial details of your business. Therefore, a lot of companies prefer having accounting departments under their own control.
If you need more information about our accounting and tax services, please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting firm has its main offices in Kissimmee, FL. We serve the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.