I suppose I`m questioning the whole shooting match! For a small business, (ie. under a million in revenue) with up to 100 transactions (checks) a month, I can let someone else do the whole daggum thing for me. Pay all the bills, process payroll for 4 employees, reconcile the bank statements, record all the deposits and process month end close. Granted, I do have to make the deposit at the bank and code all the invoices, but they do everything else for me. I just fax them the a packet of all my mail each week and they do the rest.
All that for about $800 a month! Not a chance I could hire even a part time employee to do all that for $800 a month. Plus, they know what they`re doing and I don`t! That`s the best part... It`s piece of mind!
I`ve been reading on this forum and it seems that most people do their own "Bookkeeping" and have a CPA or someone do their taxes. My CPA only charges me $600 to do my individual and corporate returns. $800 a month is about $9,600 a year... Plus $600 for the returns is a grand total of $10,200! There is NO WAY I could get this quality of work out of a part time employee and only pay them $10k a year. That`s basically a $10/hr employee at 20 hours a week. That`s a high school student, at best! All the logic I have says that outsourcing my "Accounting" (ie. bookkeeping and taxes and whatever else) is the best, most economic route for my business!
Someone tell me I`m wrong and I won`t do it!