Accounting and Outsourcing

Business Process Outsourcing: The Competitive Advantage by Rick Click & Thomas Duening

Global competition doesn't just move jobs, it also moves business processes and creates new kinds of business cooperation. For more than a century companies with global reach had to grow into huge enterprises with massive internal infrastructure. With the rise of computer systems, smaller companies learned to share the large mainframes to lower the cost for each business. Specialized providers went into business to offer their systems and expertise so that businesses could focus on their value proposition rather than their information technology.

This outsourcing of non-core operations has expanded to many other kinds of business processes such as human resources and even some aspects of accounting. Some businesses are even creating new value propositions by combining their specialized abilities with those of another company in order for each to have a more powerful offering for their target markets. This is especially true as companies extend their reach around the globe.

Rick Click and Thomas Duening show you how this process works and what you need to do and consider so you can identify which processes you might want to outsource to lower your costs and extend your reach. While this is a practical introduction, it is meant for the general business person having to learn about BPO and having to get up to speed about what has to be done to get it right.

     

Accounting and Outsourcing

Index of Articles about Accounting and Outsourcing

What Other Authors say about Accounting and Outsourcing

Basic Accounting Primer by Edward Singleton

<p>Balance Sheet<p>A balance sheet is a snapshot of the resources of a company, or its liabilities and equities.<p>Income Statement<p>An income statement is actually the breakdown...

Outsourced Accounting: Prepare Your Accounting Tasks In A Flawless Manner by Michelle Barkley

<p>A number of services like accounting outsourcing and tax return are undertaken by the accounting professionals in India. Outsourced accounting is profitable for the organizations worldwide due...

Get accurate with Accounting Outsourcing by michelle barkley

Spending hours on drafting and redrafting the accounts books of your business can try out your patience. Moreover checking each of the transactions can also consume a lot of your time, resulting in exhaustion...

An Introduction to Quicken Software by Bei M.

<p>When you say 'quick' you are commanding a rush and faster action. Thus, when you 'quicken' your computer, it may also mean you are making your financial uses and transactions using the computer...

Quick Guide to Accounting Training by Kate Leas

Are you considering an accounting education but confused by all the jargon? This is a quick guide to understanding the different specialties associated with accounting careers and the training you will...

Accounting Outsourcing is a road to more profits by Alvis Brazma

Maintaining accounts is a daunting task, as it involves lots of concentration as well as time. Well, these days various organizations and other multinational companies are opting for accounting services...

How to Tell if You've Outgrown Quicken by Stephen L. Nelson

Think you've maybe outgrown Quicken as a small-business accounting solution? Maybe, maybe not. Small-business accounting systems (including Quicken) are supposed to do three things:1. Measure your profits...

Accounting Outsourcing is the latest trend in global business by Alvis Brazma

Suppose you have a small business that has just taken off sometime back. It is also doing quite well and you have brilliant plans for expansions that you are confident will work. However you have human...

Let Accounting New York bother for your accounting hassles by Peter Terry

Whether you are in a new business or established one, you must have found accounting the toughest job. If you are handling the accounting work of your business, on your own it means that you have to be...


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Accounting and Outsourcing
Let Bush Tax Cuts End, Economists Say (Fox News)
NABE economist said Congress should let the Bush tax cuts expire.
NY Governor Rejects Reimposing Stock Transfer Tax (Reuters Via Yahoo! News)
New York state should not reimpose a stock transfer tax as this would make Wall Street firms move to other cities such as New Jersey's Newark, or other states like Connecticut, Governor David Paterson...
Tax Season Brings Out The Fraud Artists (ABC News)
Tax season is a popular time for identity-theft scams. Identity theft - Theft - Crime - Fraud - Law
N.Y.âs Paterson Shuns Wall Street Stock Transfer Tax (Update2) (BusinessWeek)
New York Governor David Paterson, facing at least a $9 billion budget deficit, rejected a call for a stock transfer tax on Wall Street.

CPA Moms provides a professional, single source accounting department that is convenient and responsive, at a lower cost than an in-house staff or third party providers.

CPA Moms will provide you with the personnel and accounting system you need to proactively run your business.

CPA Moms is not a tempaorary agency. CPA Moms offers a long term solution for your accounting needs. We use state of the art electronic communications and computer systems. It's as if we are located right at your office.

Kinds of Records To Keep
The IRS does not require you to keep your records in a particular way. Keep them in a manner that allows you and the IRS to determine your correct tax.

You can use your checkbook to keep a record of your income and expenses. In your checkbook you should record amounts, sources of deposits, and types of expenses. You also need to keep documents, such as receipts and sales slips, that can help prove a deduction.

You should keep your records in an orderly fashion and in a safe place. Keep them by year and type of income or expense. One method is to keep all records related to a particular item in a designated envelope.

Benefits of Outsourcing Accounting

Outsourcing your accounting requirements allows you and your staff to focus on your core competencies so that you can achieve the goals that have been set for your company. Some of the benefits of outsourcing include:

Eliminating or minimizing the number accountants employees thus reducing payroll expenses and benefit expenses required for these employees.
Eliminating training requirements for a staff of bookkeepers to manage accounts payables and accounts receivables.
Eliminating the risk of fraud or embezzlement
Eliminating the investment in hardware such as computers, file servers and accounting software that may or may not work for you.
Eliminating the risk of data loss and corruption due to computer crashes or viruses.

Data is secure using the latest technology for data encryption, firewalls, redundant back-ups and around the clock monitoring.
24/7 access to all of your data irregardless of whether you are in your office, at home or traveling.

How much should it cost to prepare your 2009 taxes?

For Immediately Help
Call 866-900-1040

In a study conducted by the National Association of Tax Professionals at the end of the 2008 tax season to determine the commom pricing methods at all Tax Professionals. The methods they found were:

1. Fee for each tax form or schedule
2. Fee based on last year's fee plus an additional fee for any changes in a client's tax situation
3. Minimum tax return fee plus an additional fee based on the complexity of the client's situation
4. Value-based fee based on the subjective value of the tax preparation service,
5. Hourly rate for time spent preparing the tax return, and A set fee for each item of data entry.

You'll want to ask how they determine their prices, and what they estimate your tax preparation service might cost. But because of per-item, per-form, or per-hourly rates, it might be impractical for an accountant to provide you with an accurate price quote. Accordingly, you'll want to ask accountants for a likely price range for your tax return.

A CPA Moms does not give estimates, they give you a exact rate they you are going pay and if you have a refund they will take their fee from your refund.

Average Prices for Tax Preparation Fees according to the National Association of Tax Professionals reports the following average prices charged by their members:

Average for 1040 with Schedule A and state return: $205
Average for 1040 with state return: $115
Average hourly rate: $122.12

Average Prices at Franchised Tax Offices

H&R Block: $187.17 per return average for 2008 tax season
Jackson Hewitt: $188.96 per return average for 2008 tax season

The fees charged by the chains and as reported by the National Society of Accountants are fairly similar. So these average prices may represent a sort of range for average prices charged.

Find Out What's Included in the Tax Preparation Fee

To help you determine if your tax preparation fee is appropriate, be sure to ask the accountant exactly what's included in the fee.
Do they charge extra for electronic filing?
Do they charge extra if you need a copy of your tax return later in the year?
Does the fee include a tax consultation or planning meeting where you can ask questions and received advice on how to minimize your taxes?

Some firms, especially the franchise chains, charge an extra fee for audit protection. This is basically a way to prepay for any costs associated with an audit of your tax return. So you should ask the accountant how they charge in case your return is audited, or if they will correct any mistakes they make free of charge.

Additionally, find out how the tax professional will charge if you call up later in the year to ask a tax question, or need copies of your documents, or need to respond to a letter from the IRS.

Each CPA Mom uses a their own personal method for setting prices for tax preparation services. The price for tax preparation services increases depending upon the complexity of the tax return.

A CPA Mom will quote a price before they start working on your tax return and it will be the same price when they finish.

The general information in this publication is not intended to be nor should it be treated as tax, legal, or accounting advice. Additional issues could exist that would affect the tax treatment of a specific transaction and, therefore, taxpayers should seek advice from an independent tax advisor based on their particular circumstances before acting on any information presented. This information is not intended to be nor can it be used by any taxpayer for the purpose of avoiding tax penalties.

What Other Authors say about Taxes

Online Accounting by Joe Goertz

Accounting in USA has seen lots of change. There was a time when the accounting was more of book keeping done in huge ledgers and was the purview of select few. It's not so anymore. Accounting is much...

Make more profits through real estate accounting by Alvis Brazma

Accounting is one of the most significant parts of any big or small business, irrespective of which industry the business belongs to and thus needs extra care to be handled efficiently. And real estate...

Finding Reliable Accounting Software by Michelle Bery

Those of us who own and operate a business know that far more goes into it than just marketing and selling products. There is an entire behind-the-scenes operation that enables the business to run smoothly,...

How to Get The Best Accounting Software For Your Small Business by Ryan Hough

Buying accounting software is a major investment. It's an important decision and you need to be sure of all the facts before you buy. You certainly wouldn't want to get accounting software and then find...

How to find the top accounting jobs by George Unterberg

How serious are you in your search for jobs in accounting?Accounting-Employment is powerful gateway to help job seekers find jobs in the accounting profession. If you are looking for accounting job openings...

Quicken Record-Keeping Tricks by Stephen L. Nelson

If you're just getting started with a checkbook program like Quicken, incorporating the program into your record-keeping routines can be a little awkward. To ease this process, here is a handful of helpful...

Learning Accounting: Debit and Credit Basics by Peter Lenkefi

When learning accounting for the first time, the terms 'debit' and 'credit' can be a bit confusing. Why? Because when you go to the bank and deposit money, the teller will tell you, "I am crediting your...

Choosing The Best Accounting Schools by Robert Thatcher

Accounting is defined as the measurement of assurance about certain information in the aid of resource allocation for managers and other decision makers. The most popular and most commonly practiced branch...

Working with a Petty Cash Box by Stephen L. Nelson

A common bookkeeping task that many small businesses and nonprofit organizations need to master is petty cash record-keeping. Why? A petty cash system makes it easy (or easier) for the entity to quickly...

Quick Guide to Accounting Training by Kate Leas

Are you considering an accounting education but confused by all the jargon? This is a quick guide to understanding the different specialties associated with accounting careers and the training you will...

Help with Accounting Software by David C Skul

If you run a small business you need an appropriate accounting software that can satisfy your requests. You have a lot of options from which you can choose, such as: Peachtree, Quickbooks, Microsoft Great...

Accounting Outsourcing is a road to more profits by Alvis Brazma

Maintaining accounts is a daunting task, as it involves lots of concentration as well as time. Well, these days various organizations and other multinational companies are opting for accounting services...

Debit and Credit - Learning Accounting Basics by Tony Forster

Debit and Credit - Learning Accounting Basics <P align=justify>The terms 'debit' and 'credit' can be confusing when learning accounting for the first time but why is that? If you go to the bank...

Accounting Outsourcing Service to augment your business prospects by Michelle Barkley

Are you unable to keep a tab on the heavy accounting work undertaken by your accounting firm? This is just no reason for anyone to despair about his/her business prospects. Opt for accounting outsourcing...

Accounting Principals and Tulsa by Simon Ward

<p>You can also find Accounting Principals in the city of Tulsa. The company is considered a leader in terms of offering the best workforce solutions specifically in the financial and accounting...

Keep your profits running with retail accounting by Alvis Brazma

Numbers are something that leaves us with a cold feet and sweat and especially, when the numbers are endless. Whether one is managing a big or small-scale business, accounts are something that one dares...

Let Accounting New York bother for your accounting hassles by Peter Terry

Whether you are in a new business or established one, you must have found accounting the toughest job. If you are handling the accounting work of your business, on your own it means that you have to be...

Fixing Quicken Loan Calculation Errors by Stephen L. Nelson, CPA

It is possible that the breakdown of a payment into principal and interest that Quicken makes will be incorrect. Rounding errors, payment delays, and perhaps even a bug in either Quicken's or the bank's...

Online Accounting Schools Train Professional Accountants by Michael Bustamante

There are many ways to gain an education in accounting, but the most convenient way to an accounting degree has to be online accounting schools. You can obtain a degree in accounting over the Internet...

Quick Reviews on Using Quicken and Consumer Rights by Gibson Maseko

Many people use quicken to keep track of their internet banking. It is a way to make transaction details more clear. It also allows you to keep your personal or business records on your computer, and at...

Online Accounting Management by Veera Nagaraj

Online Accounting management Online Accounting Management (Business) is the practical application of management techniques to control and report on the financial health of the organization. This involves...

Personal Finance Software Review of Quicken Product Offerings by Charles Hebert

In this article I would like to conduct a personal finance software review of the Quicken product offerings designed for personal use. There are several personal finance software products on the market...

Accounting Job Search Tips by Jay Bauder

Accounting graduates, have broader choices and specific paths to follow with their careers. Accounting requires a lot of skills when it comes to business and that is why every company has an employee that...

Business Accounting Programs Whats The Right Choice For Your Business by I Henman

There was a time when small businesses could run their operations with little to no book keeping or accounting practices. But with more and more people leaving their 9 - 5 job and opting to take their...

How to Tell if You've Outgrown Quicken by Stephen L. Nelson

Think you've maybe outgrown Quicken as a small-business accounting solution? Maybe, maybe not. Small-business accounting systems (including Quicken) are supposed to do three things:1. Measure your profits...


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