Basis 365 Accounting

Now you can pay vendors by credit cardeven if they don’t typically accept cards.

Outsourcing your company's accounting has its advantages.

Many companies avoid outsourcing simply because they don't want to lose control. However, outsourcing can save you a considerable amount of money and time in the long run. Start by outsourcing any task that takes your focus away from your business goals. For example, bookkeeping, marketing, and fulfillment activities are easily outsourced to other professionals who can get the job done faster and with more precision. By outsourcing your accounting and bookkeeping, you are placing your company's financial well-being in the trained hands of experts who work to become part of your team. Remember, you didn't start your business to become an accountant, so why focus your time on these tedious financial tasks? Instead, let the experts handle this while you focus on scaling your business.

Effective communication is essential in all business dealings, but with the goal of outsourcing your accounting, cutting costs, and improving bottom lines, it's easy to lose sight of what's important. Discuss your plans with your outsourced accounting provider, get the message across clearly, and remember that you can always ask for clarification when in doubt.

Looking for new ways to save money as you scale your business?

Looking for new ways to save money as you scale your business? Many businesses mistake investing too much money on overhead costs like flash office spaces and equipment. Rapid growth will require a functional office space and a more extensive staff but consider saving the pool table and coffee machine for when the cash flows. To avoid incurring significant capital costs, consider giving your employees an allowance for using their equipment rather than providing them company-owned computers and phones. Plus, people tend to take better care of a device they own, so you will also save money on repair costs.