Solutions

Outsourcing Makes Good Financial Sense

Taking care of your businesses’ finances shouldn’t be a stressful, worrisome chore. With CoEfficient Services managing your accounting tasks, you can relax and know that all your needs are being addressed.

Consider the Benefits of Outsourcing Your Bookkeeping

  • You are free to focus on growing and managing your business, not time-consuming accounting duties.
  • Better cash flow management – we pay your bills on time.
  • Your accounting software and financial data are stored and maintained on a highly secure off-site server. Files are routinely backed up.
  • You save money by eliminating the need for in-house staff.
  • We invest in state-of-the-art technology so you don’t have to.
  • We manage a highly-trained professional staff that remains up-to-date on all regulatory requirements that affect your business.
  • You have instant, anytime, anywhere access to all your financial information.
  • We match up our staff member to meet your needs. The right person with the appropriate skill level is always on the job.
  • Our leadership team has a strong mix of accounting and business leadership experience at work for you, with your best interests always at the forefront.
  Internal Bookkeeper Outsourcing Bookkeeping
Payment Salary and benefits must be paid whether or not work is being accomplished. You are buying services, not hours. Pay for time actually working on account on an hourly or transactional basis.
Availability If accounting is not a core competency for you, there is no replacement when the bookkeeper is sick. There is always a person on staff to keep your books up-to-date.
Relationship Employer-employee personal relationships can create emotional attachments that often detracts from proper professional management Professional relationship between two companies brings the trust of an employee, but employee personal problems do not interfere.
Turnover Bookkeepers often gain experience and move on to work for another company. The outsourcing company is continually motivated to work hard and keep their client’s business.
Time and Resources Employee supervision, turnover, and use of your office space and/or computer. There is generally more training of employees and you can tap into the resource and expertise of a full accounting firm.
Knowledge Rely on one employee who may have limited training to keep your books and financials in order. There is generally more training of employees and you can tap into the resources and expertise of a full accounting firm.
Information Safety Rely on your computer and boxes of papers to save your bookkeeping. Access to system back-up on and off-site, electronic document storage capabilities.

Accounting Problems

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Traditional Evolution

Founder + QuickBooks

Off-site bookkeeper & On-site Admin or Family Member

Gap for companies that need full accounting team, but lack the budget/desire to develop full team

Fully functional internal finance & accounting team

Issues

Founder limited time & expertise

  • Error prone
  • Limited reporting
  • Limited fraud controls

Either under/over hire (bookkeeper doing controller work or vice versa) Rapidly changing & unstable needs

  • Added Cost Structure
  • Distracting
  • Time intensive

CoEfficient Solution

Founder + Hosted QuickBooks + Advise on proper setup

Outsourced Bookkeeper that has access to CFO, Controller, & Accountants

Fractional Outsourced Accounting Team. CFO, Controller Accounting Manager, Accountants Only Use/Pay as you need

We support your existing structure with interim support or 1 time projects

Appropriate Use

  • Early-stage
  • Pre-revenue
  • Pre-funding
  • Immediately prior to funding
  • Immediately prior to revenue

Post Funding

  • In between hires
  • 1 time projects

 

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