Outsourcing of the accounting function has gained recognition as a strategic and highly effective management tool. Because both the outsourcing company and its engaged partner focus on what they do best, companies have found they can better provide their core services while often generating accounting related cost savings.
Business functions that are highly specialized and distant from the core—such as internal accounting—are ideal candidates for outsourcing. In fact, according to The Outsourcing Institute and Dun & Bradstreet, finance and accounting tops the list as the most popular functional area for outsourcing.
The benefits of outsourcing the accounting function to ARI include:
· Ability to focus on core business competencies
· Access to highly experienced, executive level financial staff.
· Identification of improved systems, procedures and controls
· Improved internal control and segregation of duties
· Receipt of timely, accurate financial information
· Enhanced business understanding of financial results
· Cost savings in the areas of employee benefits, payroll taxes, etc.
· Elimination of disruption caused by turnover of accounting staff
· Confidentiality of financial information
· 24/7 access to QuickBooks data
· Improved and more efficient service from your existing CPA firm
On a real-time and ongoing basis, we will work closely with a designated person from your business (the “ARI liaison”) to coordinate the activities between our Companies (including the exchange of information). All routine monthly services will be performed at ARI’s Glastonbury, CT office, utilizing QuickBooks accounting software platform.
Our monthly accounting services will include:
· Cash management
· Recording and reconciling payroll
· Recording and reconciling accounts receivable
· Recording and reconciling inventory
· Recording and maintaining fixed assets schedules
· Recording and reconciling other assets categories
· Processing, recording and reconciling accounts payable
· Recording debt
· Recording and reconciling other liabilities
· Recording shareholder equity activity
· Maintaining the detailed general ledger
· Preparing financial statements and reports
· Ensuring financial regulatory compliance
· Providing financial management services
· Providing year-end services and tax planning
If you'd like to receive more information about these services, please complete this form.
