trusted staff members who can perform your accounting , reporting , payroll and bill payment functions , performing these tasks in-house may be your best bet . But if some of your staff members are nearing retirement or you are looking to hire , take a step back and consider your options . Outsourcing any of these functions can be less expensive than hiring , not to mention the added flexibility outsourcing brings – no worrying about how processing payroll will happen when your office person is on vacation or your server goes down .
ARE YOU TECH-SAVVY ?
Accounting firms , payroll providers and software solutions alike are becoming increasingly cloud-based , which allows organizations to work with their data online rather than purchasing hardware and / or software for their office . The “ cloud-based ” concept isn ’ t new , but has been called hosted and web-based in the past . Cloud-based solutions provide the flexibility to work from anywhere with internet access , and the responsibility for upgrades , maintenance and disaster recovery resides with the provider .
DO YOU HAVE GOOD INTERNAL CONTROLS ?
Most business owners would say they trust their staff members – otherwise , why would they have them on staff ? But how often do you hear about embezzlement and theft in the news ? The sad truth is that sometimes employees steal from their employers , so it ’ s best to have good internal control processes in place to ward off any temptation and keep your business out of that scenario . Does the same person prepare and sign checks ?
Do you sign checks and give them back to the check preparer to mail ? Does the same person create vendors and prepare accounts payable checks ? Does someone responsible for accounting functions open your mail and / or bank statement ? If you said “ yes ” to any of these , it ’ s time to talk with your accountant about strengthening your internal control processes , which might include outsourcing one or more of your back office tasks .
MAKING YOUR DECISION
There ’ s no universal answer to this question – each organization ’ s solution will be different . But considering these various factors can help you decide what ’ s best for your business .
The PayPlus + system and services provided by Mize Houser & Company includes a customizable suite of accounting , reporting , bill payment , payroll and electronic document management solutions . The PayPlus + system can be used by your staff in-house or you can contract Mize Houser to perform the services for you – or somewhere in between . In addition , the PayPlus + system easily integrates with other systems , including Health + and selected electronic on-boarding , WOTC and pay card providers ’ systems . To schedule a live web demo of the PayPlus + system , please contact Steph Luke at 785-233-0536 or sluke @ mizehouser . com . S
Contributed by Mize Houser & Company .
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© 2016 TCF Equipmment Finance
THESCORE | 2016 Issue 2