As it should be, you are completely focused on building your business. But, have you done a “health check” on your back office lately? Without a strong accounting function, your business will not reach its potential.
Whether you have a dedicated accounting/finance department or you handle your accounting personally (sometimes off the side of your desk), it may make sense to investigate outsourcing all or part of your accounting needs. The following are scenarios where outsourcing may make sense:
- A foreign company with an office in Canada
- A start-up company
- A fast-growing company which has outgrown its existing accounting and finance functions
- A business struggling with payroll preparation
- A business who would rather not worry about the headaches of managing an accounting department and focus on growing the business
- An enterprise that is simply unhappy with its current accounting solution
- An enterprise wanting to streamline and reduce costs
Once you have determined that outsourcing is a potentially attractive option, the next step is to assess which aspects of the accounting/finance function you should carve out. The following is a menu of functions that you could potentially outsource:
- Bookkeeping (onsite or offsite)
- Payroll services (onsite or offsite)
- Cash flow projection and management
- Design, implementation and preparation of Management Reports
- Prepare HST returns and all other regulatory filings
- Support with banking, financing and investor relations
- Assistance with obtaining financing
- Sounding board for strategic planning
Welch can first help you assess whether outsourcing all or part of your accounting/finance function might make sense for your business. If, in fact, outsourcing does make sense, Welch has a proven track record of providing the various functions either on a full-service or piecemeal basis with high quality results and sensible pricing.
We cannot say that we are Doctors; however, we can definitely help you create a healthier back office!
Kathy Steffan, CA
For more information regarding how to do a “Health Check” on you back office, please contact Kathy Steffan at: [email protected]