top of page
Forest Road

Business Services FAQ's

Is hiring an online accounting firm safe?

It can be as safe as the accounting firm are willing to invest in programs that will use the 2 Factor Authentication and will have processes in place where logins and passwords are safe externally and internally.  These programs are called password managers.  These programs are designed to manage security by creating strong passwords and keeping them organized, and both businesses and individuals alike can make use of the protections they offer. From safeguarding confidential corporate content to keeping personal banking logins secure, a password manager can be a very valuable tool.  If an employee were to leave, they would be locked out of being able to use the computer and if they use their own computer, then the 2 factor authentication will alert the firm that an unauthorized personnel were trying to use the logi and will be unsuccessful.

Is outsourcing the accounting responsibilities cost effective?

The largest expense for any company is Labor and material.  What is included in the labor cost is taxes and benefits.  Most companies would like to see their administrative labor cost reduce and outsourcing is the solution to achieve less cost in this area.  Since the pandemic, the accounting department has grown to be more outsourced because firms have figured out a way to give the same quality labor without the cost.  The accounting firms will be able to employ experience professionals and handle all the payroll taxes and benefits.

What is the difference between a bookkeeper, a full charge bookkeeper and an accountant?

There are various definitions for each ot these titles  The definitions are based on experience and level of education.  A bookkeeper is a personnel is usually a person with less than one year of accounting and or the highest degree they will possess is an associate degree. It is an introductory level into accounting and they can do the basic bank reconciliations and maintain the daily maintenance of the financial accounts.  A full charge bookkeeper can do more.  They can do the mainly daily maintenance and are knowledgeable about the accounts on the financial.  They can do all aspects of accounting and will have between one to ten years of accounting experience.  They can hold a bachelor degree, however, their aspirations would be to be in a Managerial/Controller type of role and can manage a bookkeeper.  An Accountant holds at least a bachelor degree and will have more than 10 years experience in a Managerial role and/or Controller role.  They can also hold a certificate license if they have sought to work for a public accounting firm.  They can do all the work of accounting and have advanced to financial reporting. They have experience working with external relationships, such as, auditors, bankers and CPA’s.

Do I need to have a certified public accountant to manage my financial?

No, not necessarily.  If you are not a public company, you can save cost by hiring a staff that has the qualifications of financial reporting.  Matter of fact, it is best to have an accountant separate from the CPA firm so there is a check and balance.  The accountant will manage the financial and process the reports.  The CPA firm will obtain the financials for review to check on the internal processes of the accounting.  When the tax return is finalized, the accountant can review the tax return to ensure it matches to the financial. Also, the accountant can discuss the operations of the business with the CPA so the tax return is in line with the operations.

Wix background.webp

Contact us:

bottom of page