Regardless of your industry or business size, bookkeeping is an essential accounting process for building your success. When your business expands quickly, your books can include an extensive list of transactions, and it can be challenging to record each one.
For companies with internal accounting teams, the professional in charge of bookkeeping may lack the in-depth expertise to track your finances thoroughly. When businesses lack an internal team, they may try to balance the process among other projects and allow the task to fall to the wayside. Even when these companies turn to third-party accountants, these professionals lack a complete scope of the business and miss opportunities for optimization.
Compass East provides advanced bookkeeping services that extend beyond standard accounting support. With our team, you gain the expertise, processes, technology and forward-looking perspective you need to grow your company.
What Are Bookkeeping Services and Why Do They Matter?
What is advanced bookkeeping? Advanced bookkeeping is the process of retrieving, recording and storing financial transactions. A bookkeeper handles a range of functions, such as:
- Billing for goods and services
- Managing invoices from suppliers
- Monitoring accounts receivable
- Creating financial reports
- Maintaining accurate numbers
Businesses need bookkeeping for several purposes. Accurate financial records give enterprises a clear view of their performance. This view is helpful to the company, and it can also build trust with shareholders, investors and vendors.
If your business is growing rapidly, it can be easy to miss financial mistakes. Bookkeeping ensures your revenue and income are accurate as you grow, so your company can remain in the green and allocate funding to additional development projects.
Bookkeeping can feel like a process to easily sidestep, but it’s essential to any company’s success, especially one that’s growing fast.
Our Online Bookkeeping Services
At Compass East, we provide advanced bookkeeping solutions as a part of our accounting services. While bookkeeping may seem like a basic task, it’s essential to have thorough and accurate books to make informed financial decisions in the future. With our services, you gain an experienced certified public accountant (CPA) who puts your team and your stakeholders at ease.
During our Discovery phase, we’ll examine your current bookkeeping methods to identify gaps in recording and determine the best approach to optimization. Our CPAs will analyze:
- All existing accounts
- Debits and credits
- Debt levels
- Incoming cash
- Income statements and balance sheets
- Cash flow statements
- Payroll
Once our experts clean up your books, we implement processes that ensure accuracy and efficiency for the long term and advance bookkeeping in your business. With our cloud-based financial technology stack, we can introduce user-friendly software for tracking accounts and keeping accurate numbers. Our team can implement workflows for your operation to maintain consistent and precise bookkeeping processes.
The Advantages of Outsourced Bookkeeping
Outsourcing your bookkeeping process to Compass East leads to several benefits for your company. With our services, you can:
- Reduce costs: Hiring an in-house team for bookkeeping processes leads to more payroll costs, training expenses and benefits for a background process. You might outsource to a third-party bookkeeper, but their limited scope can still lead to errors that can be challenging to recover from. Compass East’s bottom-up process optimizes your bookkeeping approach for long-term growth.
- Save time: Logging, reconciling and analyzing financial materials is an ongoing process requiring valuable company time. Virtual bookkeeping gives time back to your operation, so your professionals can focus on high-growth projects.
- Maximize accuracy: Bookkeeping involves several accounts and transactions, leaving a high potential for mistakes. Without precision, your books won’t be able to guide wise business decisions the way they should. With Compass East, you gain an expert team and our technology ecosystem that ensure precision at every step.
- Access new technology: Our cloud-based technology streamlines bookkeeping for a more effective approach to financial records. Access valuable financial data wherever you are and enjoy easy solutions to reporting problems.
- Grow your business: With accurate books, your team can make informed decisions about your business processes, helping you grow. When your financials get more complex, our bookkeeping services can scale with you to maintain accuracy.
While you can outsource your bookkeeping needs to other professionals, you won’t experience our bottom-up approach that transforms enterprises for high growth. Our process is forward-looking, giving your business the foundation it needs to succeed.
At Compass East, our advanced bookkeeping services are one of the many financial solutions we offer. With a developed bookkeeping process, our experts can offer KPI development, financial modeling, cash flow management and more to keep your company on an upward trajectory.
Compass East Is a Team of Experienced Financial Experts
When your business is growing quickly, you need trustworthy financial experts to keep your accounting in order. Compass East offers the ease and efficiency your high-level company requires to succeed.
Compass East is more than a financial consulting firm. We optimize your financial processes with our comprehensive bottom-up process. We take time to clean up your existing books and procedures, address your biggest hurdles, implement advanced technology and equip you with a growth strategy.
Our solutions scale with your business. We maintain our forward-looking financial strategy regardless of your size, and we continue to bridge the gap between finances and accounting. With our team, you can gain valuable insights from your historical financial data to drive project development.
With Compass East at your side, your team gains peace of mind over accounting processes like bookkeeping. While you trust us to handle these ongoing procedures, your company can focus on relevant internal operations.