Are There Disadvantages of Outsourced Accounting Services?

Whether companies have had issues in the past, or simply haven’t outsourced their accounting services before, they may be reluctant to work with an outsource accounting team. Valid concerns like, security, location, communication and control, are all reasons a company may not outsource their accounting functions.

These are issues you won’t face with KRD’s Outsourced Accounting Services team. Below are some of the ways that in-house differs from our Outsourced Accounting Services.

In-House vs. Outsourced Accounting Services

Fraud Prevention

Does your company have accounting policies in place to prevent fraud? Unfortunately, companies are more likely to experience fraud when you have in-house accounting rather than outsourcing.

An outsourced accounting team provides more security. We put systems in place to provide internal controls that can prevent fraud or theft before it happens. With established checks and balances, we can ensure fewer mistakes are made, saving you time and frustration.

Best Practices Across Multiple Industries

KRD’s Outsourced Accounting Services team has worked with hundreds of clients across various industries. This kind of exposure allows us to provide industry benchmarks, best practices, and identify weakness and opportunities for business improvement. We have seen it all and know how to handle all kinds of accounting situations.

Quality of Work

At KRD, we offer consistently high quality work. We adhere to GAAP (Generally Accepted Accounting Principles), and have built-in efficiencies that keep our processes organized. Our firm is required by the AICPA to stay up to date on training and certifications. We’re staffed with professionals who specialize in high-level accounting, which eliminates a lengthy on-boarding process if you were to hire an in-house accountant or accounting team.