Benefits of Outsourced Accounting and Bookkeeping Services
Bookkeepers and accountants perform very different functions. Both are vital to the life cycle of a start-up. Bookkeepers can often handle the day-to-day financial transactions and maintain the company ledger. These professionals are invaluable resources during the early days of your start-up. However, accountants offer “big picture” financial advice and make adjustments to the ledger dictated by business needs. They analyze business costs and compare it to the long-term benefits for your mid-stage start-up.
By the time you reach the late stages of your startup, you require in-depth budgeting and forecasting credentials as well as someone familiar with the IPO process (if you plan to go public). An accounting consultant or virtual CFO can provide this breadth of service and knowledge.
Outsourced accounting and bookkeeping services give you access to professionals equipped to perform the tasks you set, depending on where you are in your business journey. At Ravix Group, we can provide the right financial resources at the right time for your start-up.
What Bookkeepers and Accountant Can Do for Your Business
Why should you outsource accounting and bookkeeping functions? Here are some of the skills these professionals develop over years of experience:
- Organization skills: When you start a new company, things can get chaotic quickly. Financial consultants from Ravix Group can help you keep your books organized and answer any questions you may have about available funds, revenue growth, and so much more.
- Due diligence: If you attract interest from an acquiring company or have venture capitalists willing to invest in your future, it’s important to follow through with due diligence. Having a part time or full-time accounting professional ready and able to answer questions can give you the confidence to seek out the funding you need.
- Compliance: Depending on your industry, you need to know the local, state, and federal compliance and reporting requirements. With our financial pros on board, you can breeze through discovery meetings with venture capitalists and rest assured that you are in compliance with financial regulation impacting your business.
- Responsiveness: Our professionals are prompt and responsive, and we are here when you need us the most. If you have urgent requests for financial reporting, advice, and expertise, your Ravix Group accountant is just a phone call away. For example, you may wonder how to calculate severance and handle the legal requirements of terminating an employee. This is just one of the processes that we can walk you through.
- Financial modeling: Financial modeling gives you a transparent look at how you’re performing compared to preset goals or the competition. Creating budgets is just the first step in meeting your expectations and adjusting your outlook when new information becomes available. For the purpose of forecasting, key performance indicator (KPI) analysis, and overall financing strategy, your senior accounting consultant gives you a deep or high-level view of your financial landscape.
Are You Ready to Outsource Your Accounting and Bookkeeping Functions?
Whether you need outsourced accounting and bookkeeping services to obtain expert advice or to relieve your overworked staff, we can help. Let us nurture your startup by establishing solid accounting practices.
Need Help Creating Effective, Inspiring Leaders?
Ravix Group curates a pool of part-time or full-time finance professionals. Our outsourced accounting and bookkeeping services scale to meet the needs of start-ups at every stage of growth.
Contact us online or call us at 408 216 0656 to book an appointment today.