Bookkeeping for small businesses can be a tough task to accomplish, particularly since small startups scarcely have the resources to deal with the demands of a separate accounting department. This is why outsourcing their accounting make sense as it frees the owners from taking up the roles themselves, irrespective of whether they are capable or not. It also prevents a single bookkeeper from being burdened with the responsibility. A responsibility which typically includes making suspense accounts, conducting bank reconciliations, making final accounts and preparing payrolls.
At Ezcfo, a diverse range of affordable accounting services including bookkeeping for small businesses, are provided. The following packages are offered by ezcfo:
Bookkeeping for Small Businesses
Offered in three tiers: Business Basic, Pulse and Vision Packages; they offer differing levels of service, almost as if they were tailor-made for each unique client.
To outsource their bookkeeping, customers are required to send scanned copies of the relevant documents, on a periodic basis such as weekly, bi-weekly or monthly. The frequency can be mutually agreed upon beforehand. The Basic package offers bookkeeping for small businesses and prepares final accounts using source documents. These financial statements are crucial for filing income and tax returns at the end of a fiscal year.
For those clients who wish to keep their accounts on their own accounting software such as QuickBooks, the Business Pulse package is more suitable. This is made possible by hosting the files on a secure portal, to which both Ezcfo and the client company have access. The client company can choose to prepare their own financial statements, which ezcfo will review and correct in the case there are some shortcomings or incorrect entries. In this case, the source documents, such as invoices are to be saved in a virtual file cabinet on the abovementioned portal.
The last of the lot is the Vision package. This is quite a comprehensive package, targeted mainly towards medium-sized business owners. Bookkeeping is only one aspect of this inclusive package, as Ezcfo offers analysis of various business processes and recommendations on how to improve them for higher efficiency.
Amongst other accounting services, due dates for accounts payable are also tracked to prevent interest charges and to avail discounts offered by merchandisers etc. A detailed cash flow report is also prepared so that the client company is well aware of its liquidity needs, which prevents availing emergency but expensive credit lines.
The CFO package enables Ezcfo’s clients to take advantage of the expertise of a Chief Financial Officer at a mere fraction of the cost it takes to hire one in the brick and mortar world. The CFO package takes bookkeeping for small businesses to an entirely new level, since this package is coupled with extraordinary features such as implementation of financial controls to prevent theft and fraud in the business. This is crucial for the growth of any company as lawsuits will be avoided.
While other packages concentrate on the present of the business, the CFO package has a forward view. It includes budget preparation and cash flow planning, along with the execution of tax saving strategies.
Value Added Accounting and Bookkeeping Services
Apart from offering several other payroll and HR packages, Ezcfo couples them with utmost security, convenience and cutting-edge technology. A safe online portal is made available to all clients, and is user friendly and can be easily scaled upwards as needed. Transactions are recorded in a maximum of 48 hours turnaround time, and professional support is available 24 hours a day, 7 days a week.
EZCFO is located in the USA and is governed by international accounting standards and employs only certified accountants to ensure clients receive quality and professional services.