- Non Profits
Today, many non profits are moving toward outsourcing their bookkeeping services. There are five primary reasons why non profit organizations should consider outsourcing their finance and bookkeeping functions:
In addition to a experienced CPA, every non-profit organization also needs a person who will post all the accounting transactions, maintain the general ledger, reconcile the bank accounts and the member or donor database, and create monthly financial statements. The most qualified and skilled professionals often do not have the time nor the desire to perform the administrative tasks described above, and the typical bookkeeper is not equipped to perform the higher-level finance
functions. Therefore, for many non profits, particularly small- and medium-sized organizations, outsourcing their bookkeeping and finance functions is often a more cost-effective way to access professional-level skills and expertise on an as-needed basis without having to maintain a full-time finance department. By utilizing Legal Tech's services, organizations often benefit from improved efficiencies which can lead to further cost savings. Our services can be set up in many different ways depending on the needs of non profit resulting in a cost-effective way to:
- outsourcing may cost less than internal staffing
- outsourcing can provide a higher level of expertise
- outsourcing may result in more timely, accurate, and meaningful financial information
- outsourcing generally improves business processes and controls
- outsourcing often eliminates risks associated with poor internal hires
In addition to a experienced CPA, every non-profit organization also needs a person who will post all the accounting transactions, maintain the general ledger, reconcile the bank accounts and the member or donor database, and create monthly financial statements. The most qualified and skilled professionals often do not have the time nor the desire to perform the administrative tasks described above, and the typical bookkeeper is not equipped to perform the higher-level finance
functions. Therefore, for many non profits, particularly small- and medium-sized organizations, outsourcing their bookkeeping and finance functions is often a more cost-effective way to access professional-level skills and expertise on an as-needed basis without having to maintain a full-time finance department. By utilizing Legal Tech's services, organizations often benefit from improved efficiencies which can lead to further cost savings. Our services can be set up in many different ways depending on the needs of non profit resulting in a cost-effective way to:
- achieve management focus
- expand access to resources
- obtain more accurate and timely financial information
- increase flexibility
- improve cost efficiency