Don’t Do the Math: 5 Reasons Outsourced Bookkeeping Services are the Right Choice for Your Business

Published on: 25 December 2018 Last Updated on: 08 August 2019

Every business owner is faced with the challenge of knowing when to outsource and when to hire in-house.

With most business tasks, this depends on many different factors. But when it comes to accounting, it’s always better to outsource.

In this guide are five amazing benefits of outsourced bookkeeping. Read on to see why you should outsource bookkeeping services.

1. Increased Privacy/Security:

Due to the sensitive nature of financial documents, and the wide array of legal issues that result from improper bookkeeping, your accountant must be extremely trustworthy. If they do you wrong, it could completely destroy your company.

This is doubly true of in-house accountants. As they are a member of your own staff, you are held accountable for any mistakes they make.

But when you outsource your bookkeeping, this burden of accountability is outsourced as well. Since the accountant belongs to a separate company, any mistakes or intentional misconduct they make is on them, not you.

Plus, when you outsource, there’s far less chance of misconduct happening regardless. The stakes are much higher for outsourced accountants than for in-house ones.

For an in-house accountant, bookkeeping is just a job. They might leave for a better one at any time. They aren’t necessarily all-in.

But a third-party accounting company is. If they don’t provide you with competitively superior accounting service, they’ll go out of business.

2. Peace of Mind for Everyone Else:

When you do your own bookkeeping, you have exclusive control of your company’s secret financial records that no one else is allowed to see. Understandably, this makes clients and tax agencies nervous.

How do they know you’re not fudging numbers and manipulating the records for selfish gain? They’d have to just take your word for it. And that’s not very reassuring.

But a third-party accountant has zero incentive to bookkeep dishonestly. And since the accounting is done off-site, no one at your company will even have access to edit or share this information. So there’s no reason for anyone to question the accuracy or integrity of their accounting.

3. No Training, No Management, No Turnover:

Your outsourced accountant requires no recruiting, no training, and no management from you, ever. That’s all taken care of by their company.

It’s true, however, that you’ll still have to scout for the right accounting company for your business. But it’s much less involved than the typical hiring process. Here’s more info on that.

Best of all, you’ll never have to worry about turnover. This is a really, really huge deal when it comes to bookkeeping. Have you ever considered what happens if your in-house bookkeeper quits without any notice whatsoever?

Accounting is essential. It’s not something you can put on hold until you hire someone else (which can take a really long time). Who will take care of it in the meantime?

If you outsource, you won’t need to answer these questions. Even if the accountant assigned to your case abruptly quits, there’s an entire team of qualified accountants ready to replace them.

4. Keep Your Focus on Your Business:

You heard us right. When you outsource, you won’t have to recruit, manage, or rehire accounting staff, or do your own accounting, ever again. It sounds like you just got a lot more time on your hands.

What will you do with it? You’ll do what you do best, of course. You now have all this extra time to invest in your business where you’re needed the most.

5. Upscale or Downscale With Ease:

Outsourced accounting is as big or as small as you need it to be. It will more easily upscale or downscale with you as needed than in-house accounting staff.

There won’t be any hiring or layoffs of accounting staff when your company rapidly changes size. And they don’t take up any space in your office, so space restrictions won’t be an issue, either.

Get Outsourced Bookkeeping For Your Business:

It’s now plain to see that outsourced bookkeeping is the best option for any business. Outsource your bookkeeping to reap these great benefits.

Get more financial tips for your smoutsourced bookkeepingall business right here. Read about six loan mistakes every business owner must avoid.

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7 Things You Must Know About Dow Jones Stock Market Chart

Dow Jones Stock Market Chart has made investment research easier and more comprehensive. The world of the stock market is quite enticing and, inspired by the movies or a real-life story, most of you must have thought of investing in stocks. Eventually, people give up the idea and continue watching the movie or reading the newspaper. The most common reason behind the dropping of the idea of investments is - people generally think of investments as a really complicated matter, which is completely untrue. Investments are not complicated but they need a bit of practice and you have to be good with numbers. Various Stock Market charts like Dow Jones Stock Market Chart, have made investments a lot easier. Now, stock market indexes have made the trend analysis more numeric than imaginative. So you have a number to trust on, rather than your instincts or other such unreliable figures. One of the most popular and most used stock market indexes is - Dow Jones Industrial Average or DJIA. Securities Research can help you benefit from your stock investment. DJIA is a collective price-weighted index that uses the share prices of its 30 component companies to weigh the fluctuations in the US Economy. Dow Jones Stock Market Chart is one of the oldest stock market index and is still is one of the most used indexes, in spite of various criticisms. So, let us understand this stock market chart by knowing various facts about it. Here are 7 things to know about Dow Jones Stock Market Chart 1. The Component Companies: Currently, DJIA takes into account its 30 component companies. This includes the current business-leaders of the US economy like - Apple, Microsoft, AT&T, Boeing, etc. DJIA, in its beginning, has only 12 component companies mainly from the industrial sector. 2. The History: DJIA was coined in 1896 by Charles Dow and Edward Jones for providing a proxy for the broader US economy. DJIA was weighted arithmetic mean at the beginning, which means, it was just the arithmetic mean of the share prices of individual stocks of its component companies. 3. It is a Price-Weighted Index: DJIA is a price-weighted index. This means - more the share price of a stock of a component company, greater will be its weight. The resultant sum is then divided by The Dow Divisor rather than the number of contributing stocks. Thus the next point of interest is - The Dow Divisor. 4. The Dow Divisor: The Dow Divisor came onto the scene to avoid the minor changes like split-dividends, spin-offs, or such others. This ensures that the final value of DJIA and the Dow Jones Stock Market Chart doesn’t get affected by these minimal changes. 5. Trend Analysis: The Dow Jones Stock Market Chart has been a reliable source for the trend analysis of the stock market. It can also be used to study the falls and spikes in the share prices of individual stocks of a certain company. 6. Reading Dow Jones Stock Market Chart: Dow Jones Stock Market Chart is really helpful but the most important thing is to know how to read them. Reading these stock market charts takes a lot of practice and experience. Securities Research has more than 80 years of experience in the field of investment research. Use our experience to benefit from your investment. Learn to read DJIA Charts with Securities Research; download your free eBook now! 7. Components keep changing: The contributing companies of DJIA keep changing according to the change in the leadership in business trends. One of the grandest replacements in DJIA was Apple replacing AT&T to get in the 30 companies of DJIA on April 18, 2015. Read Also : How To Start Trading On The Stock Market And Profit? How Businesses Can Use Stock Trading

Forex Trader Guide: How to Start

If you are here, you have probably already decided to run a Forex trading campaign or started considering this as a good online business opportunity. If you want to trade classical Forex or CFDs Forex, you need the truth on how to start, so here is a detailed started guide from actual experts in the field, the Forextb.com team. Let’s start! 1. Learn The Key Principles: Before you start practicing Forex trading through your first demo account, you have to note down and learn the fundamental principles of trading. The list of these short rules will help you even when you get into the professional trading league one day. Don’t expect too much – All your expectations should be based only on sober judgment. You always have to think of both positive and negative results that can happen when you open the next position and focus on the opportunities rather than on potential profits. The last may cause terrible anxiety and make it impossible to focus on the right things. Don’t invest more than you can lose – Leveraged trading, which makes Forex so attractive, can lead you not only to multiplied profits but to immense losses as well. That’s why you have to avoid investing more than you can payout if you lose. Even if you are 100% sure about a position, don’t try to be in over your head. Follow the headlines – Being aware of the markets is incredibly important for every trader. You have to know the entire background of every Forex pair you want to trade to be able to predict the most probable results. Turn off emotions – Emotional trading is is a failure even if you win the first few times. You should develop a strategy and follow it strictly to the end, without letting your emotions change your decisions. Otherwise, you won’t learn anything from your current strategy and won’t be able to develop a better one. There’s no reason for losing time and money like this. Get ready to lose – There’s no such trader who doesn’t lose. Even if you look at the trading history of top professionals, you will see multiple losses for every year of their careers. What makes a trader successful is the ability to overcome losses quickly and end up earning more money than losing. 2. Choose a Reliable Broker: Brokers are mediators between you and trading platforms. Technically, they provide you with access to certain trading platforms and charge a certain fee based on the services listed in the agreement. The truth is that brokers can impact the quality of your trading, so it’s very important to analyze all the popular offers and select the one that matches your needs, market standards and has generally positive reviews from the business community and trusted industry experts. 3. Use Stop Loss Orders: Of course, a stop-loss order is not a 100% guarantee that you won’t face losses if the market goes down too fast, but it’s definitely, a way to minimize potential losses. You can set the orders for specific scenarios to be sure that the system will cut you from the falling position automatically until you lose too much. 4. Pick a Strategy & Improve It: There are four main trading strategy categories that cover the vast majority of trading strategies. These common categories include: Scalping – Scalping stands for very short trades that usually take just a few minutes. Scalpers develop strategies aimed at making small profits on multiple trades during the day. One of the most popular examples of scalping is the Forex-1 minute Trading Strategy. Make sure to google it. Scalping is widely considered one of the most advanced trading categories as it requires a trader with a quick, agile mind who can adapt to frequently changing circumstances and understand where the wind blows. Day trading – Day trading strategies open and close within the trading day timeframe and last for a few hours. It’s a popular category amongst beginner traders as it provides you with enough time to think and doesn’t overwhelm you with potential overnight market changes. Swing trading – This category involves trading strategies that last around 2 trading days and stay overnight. It’s quite a risky thing for beginners but can be a great instrument when you have enough experience. Positional trading – This trading strategy type involves following long-term market trends in order to multiply profits on significant currency price shits. Unlike the previous three, this approach is considered long-term and requires traders to be extremely patient and disciplined. There’s no real need to start with your own custom strategy created from the ground up. You can start by testing classic trading strategies that have proved efficient over time and learn what makes them so good while practicing in real-world conditions on your demo account or a real one. 5. Learn to Analyze: The lesson to learn here is that there are two main analysis types: Technical analysis – This analysis typically involves studying price movement patterns of a specific currency pair or asset. Your aim here is to see historical price trends and try to make accurate predictions on future price movements. This way, you can gain more confidence in the trend you should bid for. You can use indicators, chart patterns, and candle patterns to conduct effective technical analysis. Fundamental analysis – Similar to technical analysis, fundamental analysis involves making predictions, but it focuses on the general economic situation worldwide, including current GDP, interest rates, employment rates, worldwide trade, manufacturing of physical goods, economy-driving commodities, and more. Long story short, fundamental analysis is practically about everything but the price movement pattern. Time to Start a Demo: You can read hundreds of articles, but they are just nothing until you start practicing real-world platforms and instruments. The best way to start right away is to select a reliable broker and open a free demo account to see how it goes. You can practice on a demo account without spending a cent as long as you need to get used to the platform, test your first strategies and try to understand what you feel. Don’t be there too long, though. The real market with real money is the best teacher. Read Also: How Financial Trading can give you the Life you want Forex Trading Wisdom: Talk Yourself Out of Bad Trades CFD Trading: Everything You Need to Know in 2021

Not all customers are always right

Why Not All Customers Are Subjects to “Always Right” Position 1909 is the year when one of the most famous phrases of all times ‘The customer is always right’ has appeared. The author, Harry Gordon Selfridge, founder and owner of a department store in London, used this phrase to argue customers into the point that they will be served like kings and employees of the store by the same token promised that they would do all they could to satisfy their customers. Much water has flowed under the bridges since then, and perhaps it is time to throw discredit on this dictum. Today it is clear that such approach can lead to worse customer service. So if you are a business owner, and do not want to support this ‘customer’s right’ position then rejoice! You are not alone and economists tend to agree with you. Here are some reasons to support this point of view : 1. Such approach harms the productivity of the staff The way an employer treats his people is extremely important as thereon hangs their wish to put the best leg forward and bend every effort for company’s success. Many customers when paying for certain service decide that they have a right to abuse workers of the service. And taking their side in the conflict with your employees makes your people vulnerable. Employees need to feel that they are protected and valued, so no tricky customer can spoil your relationship. Of course, one may say that such approach encourages lousy customer service, however, it turns out that if the employer always takes side of the customer, the repercussions are much worse than in the sound solving of the problem. 2. It over complicates work of the staff Abusive people take this slogan to their advantage demanding additional service that employees should not provide. And due to this slogan workers try to satisfy excessive demands, for the most part neglecting needs of nicer costumers. 3. You can fire a customer, yes There is no excuse to disrespect and rudeness towards employees of your business and no matter how much money such customer can bring to the company. So when the customer keeps complaining about your service but still uses it, feel free to fire him – save time and nerves, yours and your staff. There is no need to worry as long as your business offers high quality services –you will always have customers. 4. You get better results at work Treat your people as you wish them to treat your customers. Satisfy all their needs and protect their rights and dignity. And that will motivate your employees to work harder and care about customers. Otherwise, you will show your staff that they are not important for the company and they have to tolerate disrespectful behavior from clients. 5. If the customer is wrong, then your business is better off without him, honestly There are situations when clients are definitely wrong, for example, when abusing others or infringing on their rights. Providing services to such buyers will result in the rundown of appropriate customers. As for the companies that offer online writing services like 10 page papers.com, the situation is brighter. Students come for help and they know what they are searching for. For example, if they need custom academic papers, then they place an order at the website and discuss it with the writer. All writers of the service are qualified and eager to help, more than that, after completion of each order students leave feedback for their work, so they are motivated to be customer-friendly. If there is any problem, the friendly Support team helps to solve the issue and as the company tends to be customer-oriented, members of Support team work 24/7 to be in touch with customers in need. So any client can communicate with the writer or member of the Support team using convenient means of communication and at any time. The support team is always able to get across even with the most carping customer, yet, they also do not tolerate rudeness or abusiveness. Writers there are masters of their craft, their works are highly evaluated by students worldwide so they know their own value. Managers of the service are always ready to hear an appeal if there is something wrong with the order, still, they always make fair verdicts. Read More : How To Write And Design An Article That Attracts New Customers To Your Business Top 4 Reasons To Outsource White Label PPC For Your Business Using Social Media To Promote Start-Up Businesses How To Get Product Ideas For Your Ecommerce Business Using Digital Signage To Improve Your Business

Don’t Do the Math: 5 Reasons Outsourced Bookkeeping Services are the Right Choice for Your Business

1. Increased Privacy/Security:

2. Peace of Mind for Everyone Else:

3. No Training, No Management, No Turnover:

4. Keep Your Focus on Your Business:

5. Upscale or Downscale With Ease:

Get Outsourced Bookkeeping For Your Business:

It’s All in Your Head: Do You Have the Right Mindset for Business?

6 Shameless Examples of Product Placement in Movies We’d Like to Forget

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Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Not all customers are always right

Don’t Do the Math: 5 Reasons Outsourced Bookkeeping Services are the Right Choice for Your Business

1. Increased Privacy/Security:

2. Peace of Mind for Everyone Else:

3. No Training, No Management, No Turnover:

4. Keep Your Focus on Your Business:

5. Upscale or Downscale With Ease:

Get Outsourced Bookkeeping For Your Business:

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It’s All in Your Head: Do You Have the Right Mindset for Business?

6 Shameless Examples of Product Placement in Movies We’d Like to Forget

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

All Comments

Popular

Follow Us

Recent

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