AccountingBookkeeping

4 Bookkeeping & Accounting Must-Haves For Professional Services

By September 11, 2018 No Comments

Certified accountants for doctors and lawyers

If you’re in the professional industry — doctor, lawyer, architect, engineer, consultant — you’re highly qualified, expertly trained, and have absolutely no time to manage your financial accounts. On top of that, there’s probably not a one-size-fits-all answer to your bookkeeping and financial process because you need the flexibility for rate variation based on customer. So keeping track of your numbers is the very least of your worries, which can be worrisome for your financial health and security.

To cut through the red tape with finding a direct, easy solution that works best for you, here are the top things you need to reduce your accounting workload and get back to what you do best.

Here’s what you need to consider

A system with optimum flexibility, and marginal room for error, is the ideal solution. And while you may not require all of these processes now, many will apply to the accounting needs of your company:

  1. Reports that track your cash flow, so you always know what’s going in and what’s going out
  2. The capacity to handle as many clients, or projects, as possible so the system grows with your business
  3. A streamlined workflow that incorporates payment systems, client invoicing, retainer management, and more.
  4. A billing process that is based on a number of variables, including time, project, and work completed.

While managing these tasks on your own is possible, it’s certainly not the most efficient. To track the value of your work and ensure that your business has ample opportunity to grow, outsourcing your bookkeeping is the best option.

Here’s how outsourcing can help

By outsourcing your accounting and bookkeeping needs with a firm like Acuity, you’ll get the flexibility of expert, industry-specific advice without having to hire an in-house department.

What Acuity can do for you:

  • We can give you the assistance to keep the team billable so that you’re not wasting time doing accounting. We’ll also provide support with customer invoicing and customer collection processes
  • We’re experts in understanding how to work with various service delivery models, including time and materials, fixed fee, retainers, progress billing and more
  • We work with the best programs in the industry and can provide efficient professional service tools to supplement your current workflow including time tracking systems, project accounting, employee/contractor payment systems, and employee expense reimbursement.

With the most certified accountants in the country and over 35 years of combined experience, our modern solution to your bookkeeping needs is just what you to need for creating a financial environment where the numbers keep up with you. Not only that, you’ll have access to our expert CFOs who can help you take your business to the next level so that you continue to grow.

Want to learn more about our industry-specific accounting services? Click here.