Skip to main content

Accounting automation and outsourcing is a fast-growing trend. Accounting is the heart and world of any business and needs particular concern to make an informed decision. Even when it comes to choosing the right outsourcing accounting service, many companies make some common outsourcing accounting mistakes during the process that ends up costing them in the long run.

Here we have compiled a list of expensive outsourcing accounting mistakes and how you can avoid them.


Mistake 1: Not Defining Your Goals

defining accounting goals

Photo by vedanti from Pexels

If you are outsourcing accounting with the idea of getting better service at low rates and minimum management, you should reconsider. You will not achieve anything out of outsourcing unless you have a proper plan. Moreover, you need to define your objective from outsourcing service.

You should determine if you want to just outsource the more complicated accounting tasks or the entirety of your accounting. If you choose to do the latter, you should consider a service that does bookkeeping & payroll as well. This will make sure the process is streamlined and all the accounting activities are being handled by professionals.

For example, if you outsource bookkeeping services, you will have enough time to focus on your business’s management and marketing aspects because bookkeeping takes a lot of time. 


Mistake 2: Not Thinking About the Interview Process


Would you ever hire an in-house account in your company without a formal interview? If your answer is no, how can you hire an outsource company without a formal interview? 

If you simply trust some online comments or referrals from your friend, please don’t commit this mistake and conduct a good interview session before hiring a professional accounting company.


Mistake 3: Hiring Cheap Solutions


While outsourcing accounting services is a cheap solution, it doesn’t mean you will get good services by paying less. Consequently, if you hire affordable accounting services or appoint an individual freelancer to handle your accounting operations at cheaper rates, it will be one of the biggest outsourcing accounting mistakes.

For instance, freelancers will take up only a limited amount of work and won’t even offer complete accounting services because they are trained in just one part of the accounting process.

On the other hand, if you hire a reputable accounting outsourcing company, you can use their multiple accounting services and support from highly professional accounting staff that consists of accountants, auditors, tax experts, and others.

Therefore, you shouldn’t get lured by the cheap accounting services offered by freelancers. Spend a little extra to get a flawless accounting service.


Mistake 4: Not Setting Expectations


outsourcing accounting mistakes contract

Photo by Gabrielle Henderson on Unsplash

You always need to be clear about your outsourced business partner’s expectations right from the beginning of the contract to avoid outsourcing accounting mistakes for your company and your new partner. 

When you neither define your expectations nor legalize them through a written contract, you won’t be able to achieve your outsourcing goals. 

Further, there are a lot of pointers you need to be fully clear about, like – 

  • Which mode of communication will you prefer?
  • How would you be addressing issues? What are the problems for you, and what is an emergency situation?
  • When do you want account work to be delivered, weekly, biweekly, or daily?
  • What should you do if your internet goes down?

Mistake 5: Not Having Proper Communication


You don’t have to micro-manage every aspect of the work as the outsourced company’s manager will handle everything for you. However, this doesn’t mean that you can completely neglect your outsourced worker’s demands and get a report on their work progress without communicating to the project manager. 

Consequently, if you allot work to a company and don’t follow up, this would be a massive outsourcing accounting mistake on your end. Nonetheless, the outsourcing accounting team might be thoroughly trained and experienced. Still, if you want to get the work done accounting to your style, you need to communicate with the team and guide them whenever they aren’t following your vision. 

Always remember, regular communication is the key to success for a business organization, whether operations are handled remotely or locally. 


Mistake 6: Not Understanding the Accounting Services You’ll Need


If you don’t define the scope of what you need accurately, most probably, you will end up with incomplete solutions that take time to integrate and complete. Always ensure that you have outsourced a complete process.

For instance, you may feel that you just need invoice scanning and data entry with software for routing for accounts payable management. However, it pays to think through how you spend your time throughout the process.

Further, most businesses find the biggest benefits come from a complete outsourced account payable management solution that includes automated routing for approval, exception management, vendor setup, and support for vendor payments as well. 

A complete accounts receivable management solution will include:

  • Customer billing.
  • Cash application exceptions [Like dispute management and credit card expirations].
  • Customer late payment reminders.
  • Cash applications.

You must customize an integrated end-to-end accounting process to your needs based on your business rules for a successful outsourcing accounting solution.


Mistake 7: Letting the Providers Tell You What You Need

outsource accountant

Photo by Headway on Unsplash

Let’s assume you are about to make a fairly common but relatively big-ticket personal purchase: you need a new car. You have done your research, made a list of must-haves and nice-to-haves. Moreover, since your kids are in college, you would like something sporty but fuel-efficient at the same time. Further, you wouldn’t mind a few bells and whistles, but safety is crucial. But wait, that’s not the thing.

Now imagine a salesperson listens intently, tells you that they have the right car for you. That leads you to a big minivan without a safety rating, and as far as bells and whistles go, it has heated seats and satellite radio. Practically nothing in this vehicle is right for you. In contrast, they keep you assuring this is the one and trust them, and they have been selling cars for a long time. What’s the problem now?

You would not buy this car. However, companies may sometimes be drawn into this same situation when they are shopping for vendors. This is a huge mistake, but it is an understandable one. After all, you are new to outsourcing. Nevertheless, this doesn’t fall under scrutiny. 

You know best what your business needs. A quality accounting company will listen to those needs and create a solution that meets them. Along with this, they should act as a guide to the ins and outs of outsourcing. Besides, they should suggest ways to address other issues that you didn’t realize or improve alongside your initial concerns. 

Finally, there is no need to force your company or project into parameters that you didn’t use yourself. Or use a technology you are unfamiliar with or sign on something that doesn’t serve you. 


Mistake 8: Half Knowledge is a Dangerous Thing


We are all aware of the fact that knowledge is power, and research is all about creating new knowledge. Outsourcing accounting work that is outside your core competency is a viable option.

Consequently, before deciding on outsourcing the task, a company should have a properly analyzed report of the eligible companies’ list on whom you can trust and hand over your company’s financial data.

For instance, you won’t need to hire a firm that keeps sending the newsletter in your mailbox as there are automated tools available for newsletters. Rather, you should go for a company only when you have complete knowledge about the process you are to outsource and how it will help you to transform the business work style in a contemporary manner. 


Mistake 9: Trusting Words and Not Actions 


Companies should never believe the words of any outsourcing accounting company unless they have not scrutinized their action. Nowadays, the dependency of all generic companies upon outsourcing accounting companies is vast. 

However, you should keep a separate coordinator who keeps in touch with the outsourcing company and observes their working efforts as in the end, the result speaks. 

Interestingly, outsourcing is not a straightforward solution to your problems. You should understand the concept of mastering your strengths while outsourcing your weaknesses. Every industry should have a deep knowledge of outsourcing their financial tasks to a reliable company at an affordable cost with good service quality. 

Outsourcing accounting mistakes can have a significant impact on the goodwill of your company. Hence, you should remember the goal of outsourcing is reducing the inefficiencies and delivering quality services to be more focused on other day-to-day business activities.

xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonxosofutebol ao vivofutemaxmulticanaisonbethttps://bsport.fithttps://onbet88.ooohttps://i9bet.bizhttps://hi88.ooohttps://okvip.athttps://f8bet.athttps://fb88.cashhttps://vn88.cashhttps://shbet.atbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩaAG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88