Don’t believe in the myths related to outsourced accounting services as most of them are baseless. You can check out the most common accounting outsourcing myths and the reality behind them in this post.

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Are you a new CPA firm with high hopes and ambitions? Are you trying to establish your account business in the cut-throat competition of the US economy? Do you want to serve your clients with perfection?

Then, you have to surf the boat of outsourced accounting services. That’s because by accounting outsourcing in the US market, you will be able to – hire talented employees at lower rates, can reduce your overhead cost, improve your productivity, expand the client base of your small accounting business and so much more.

However, if you are not sure about outsourcing for accounting firms yet, and you are wondering in the land of outsourcing accounting myths – then you need to pull yourself out of the misconception world and try to accept the reality.

Outsourced Accounting Services Myths – Hindrance in your Success

For small CPA firms, it is economically not possible to hire full time experienced professionals in various areas like taxation, bookkeeping or management. Plus, they can’t afford to update accounting technology every other month. So, outsourcing for accounting firms here is a great solution that can empower small CPA firms.

But, still, there are some myths regarding the outsourced accounting industry lurking in the market that has been disturbing small CPA firms to invest in the outsourcing services. So, today we are going to discuss a few common outsourcing accounting myths that you need to wipe out today from your mind.

Myth #1. Outsourcing services is beneficial for large companies only.

Reality – It is a misconception going in the minds of lots of CapActix clients that only big accounting firms in the US can benefit from our services. But, that’s a sheer myth – the large firms can indeed increase their productivity and efficiency by outsourcing accounting work, but it doesn’t mean that small or mid-sized accounting companies can’t gain benefits as well.

With the help of outsourced services, small accounting firms can provide a variety of services to their clients at affordable rates. For instance, if any of your clients wants you to perform taxation as well as bookkeeping services, but you only have bookkeepers in the house. Then, you can outsource tax professional’s services and use your in house staff for bookkeeping services. These way small accounting companies will be able to offer all kinds of services to their clients without hiring full-time professionals.

Myth #2. My company’s safety and privacy will be compromised.

Reality – This is a myth that has been stopping numerous companies in accounting outsourcing in the US. People assume that once they share confidential information with strangers and welcome outsourcers in their business, then their companies’ safety and privacy will affect.

Well, this is somehow true – now, if you handover confidential clients files to strangers without any verification, then you are indeed compromising your company’s safety. But, if you hire well trusted outsourced accounting firms with good client reviews and reputation, then you won’t lose anything.

Moreover, all the trustworthy accounting outsourcing firms foremost sign agreement with their clients so that all the terms and conditions will be legalized in the written to avoid any future conflicts. So, if you are using the services of trustworthy and reputed accounting firms, then your company’s safety and privacy will remain well intact.

Myth #3. There is no difference between offshoring and outsourcing.

Reality – Accounting business holders often get confused between the offshoring and outsourcing accounting services. Both these terms are completely opposite from one another. Outsourcing accounting services is an agreement between you and a third party company that will provide particular services to you. However, offshoring means hiring an accounting team from a different country where professionals will be available at cheaper rates, but the employees remain part of a company.

Offshoring is adopted by US accounting firms because some countries have low wage rates and tax rates as per the US. So, if you are wondering that you have to manage your outsourced accounting team, then you are mistaken as outsourcers aren’t part of your team. They will be managed and trained by the service provider company that means apart from assigning the work and making the payment – CPA firms have nothing to worry about.

Myth #4. Long term partnerships can’t be established with outsourced accounting companies.

Reality – Most of the accounting firms consider outsourcing accounting services short term activity only. They think that outsourced services can offer them a one-time solution only. Now, of course, it is a myth because CPA firms can establish long term relationships with outsources service providers.

You can entirely outsource certain accounting services from the outsourced company. Such as if you don’t have tax expertise in your team, and then you can still effectively provide tax services to your clients by outsourcing the service. Moreover, tax services are required during a specific period so you can easily make long term contracts with outsourced accounting firms.

Myth #5. High level IT infrastructure is required for outsourcing accounting services.

Reality – a large number of accounting firms hesitate to use outsourcing services because they don’t find themselves sufficient enough to deal with the large IT database required to establish a connection with outsourced service providers. Well, that was an old story, because communication tools and numerous other IT applications are now available at very cheaper rates.

Small accounting firms can easily acquire the tools and applications to establish a connection with their outsourcing accounting service providers. Moreover, due to intensive competition in the technology sector – some of the IT tools are available for free. So, if you are not using the services of outsourced accounting companies because you don’t want to increase your IT expenses, then no need to worry as hiring outsourced team won’t affect your budget much.

Myths Are Useless

Myths are just created out of a few bad experiences. You can’t judge the full book from the cover page – similarly, if you want to experience the outsourced accounting services benefits, then you have to try yourself. You can’t believe in some baseless myths – you have to first try, and then believe. So, if you believe in any of the above discussed five accounting myths, then immediately clear your thoughts.

Wikipedia defines website performance as the speed at which website pages are downloaded and displayed on the user’s browser. Several factors negatively affect website performance and they include backlinking, indexing, low server memory, or data influx. Your site visitors are likely to drop off due to a slow website hence the reason why you need to regularly conduct an SEO audit to pick out issues that need to be fixed such as high loading time. We tell you how an SEO audit tool such as [Ninja SEO] can help speed up your website.

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Website speed performance is thus very crucial for your eCommerce. While it’s very easy to point out a slow website, it can be quite daunting to get to understand what slows down your website hence the need for an SEO audit. A good SEO audit tool will not only unravel what’s slowing down your website but also give grades for pages according to their SEO scores. What’s more, such tools go ahead and provide solutions to resolve on-page SEO errors.

SEO audit should be a priority for businesses if they are to get the most out of their websites, which have come to play a very critical role in times such as this where COVID-19 mitigation measures have forced businesses to rethink and to reimagine how they do business. Indeed, it is business unusual and SEO is a tried and proven way of driving qualified traffic to your website.

Social media marketer Monica Oneil agrees, “SEO can be competitive, but it is still by far the most effective way to drive sustainable traffic to your website.”

According to Forbes, “Optimizing your website for search engines is a powerful means for strengthening your website and extending its reach, allowing you to better connect with customers and increase visibility on your brand.”

As clients and businesses move online, companies must ensure that they offer their clients a seamless customer experience lest they lose their audience to competitors. Once you have attracted a lead to your site, you want them to stay with you till the end where they purchase a service or product or even download an e-book.

Since you don’t want to lose them, ensure that you don’t give them any reason whatsoever to drop off as you will need to work much harder to regain their attention. One of the easiest ways to lose your site’s visitors is through a slow website. In this day and age of SEO audit tools, no business has an excuse for a slow website.

How to easily conduct an SEO audit

Search engine algorithms are constantly being upgraded and you keep on adding content to your site to make it active. To ensure your brand’s site is up-to-date with these changes, it is vital to regularly conduct an SEO audit.

Here’s how you can get started with your SEO audit.

1 Competitor research. Begin your audit by scrutinizing your competitors. Look at how they are generating their organic search traffic for certain keywords. This will help you know what they are not doing so that you could generate content to surpass them. A competitor analysis could be easily done with an SEO auditing tool such as Ninja SEO. The main areas to look into are competitor keywords, their estimated monthly search traffic, inbound links, and domain authority among others. These statistics need to be evaluated and compared to help you figure out how much content competing sites are churning, and their weaknesses and strengths. With this knowledge, you will understand where to focus your strengths.

2 Crawling and indexing. Crawling is determining how your website is read by search engines while indexing is adding your web page to search engine results. Indexing and crawling are vital to a successful SEO approach. Leveraging a proper SEO analysis tool will help you establish whether your site is being crawled or indexed. The robots.txt file is helpful when trying to comprehend what content is blacklisted from crawlers and evaluating the sitemap to see if it meets all requirements. You might be surprised to discover that the entire website has been blacklisted by a search engine. Most sites contain information that is not useful for SEO operation and search engines mostly ignore them.

3 Accessibility. One of the reasons that damage visitors’ access to your site is slow loading times and 404 errors. Site speed in the SEO industry is increasingly vital. Search engines rank slow sites very poorly; speed is a major UX signal for search engines. Slow load time frustrates readers and search engines. Ensure you check the speed of the entire website. Most clients check the homepage speed and they forget that is just a page and the entire website is the book. Also, analyze your competitor’s site speed and compare it with yours. Most crucially, measure both the desktop loading time and mobile site speed. This will give you an in-depth report on your site performance in terms of speed and suggest what errors to eliminate to improve your site visibility to search engines and functioning.

4 Link analysis. Search engines use relevant links as one of the major determinants in ranking websites. Determine how the site is linked both externally and internally to reputable third-party sites. Ninja SEO and Google Search Console are some of the incredible tools that can analyze links in your website and determine what pages linked to yours are important and how your data is linked. It could be backlinks or referring domains. Domains are a much stronger signal than backlinks since one site generating 10,000 backlinks is still one referring domain. It is easier to manipulate a site for backlinks but harder to get numerous domains. When analyzing links to your site, referring domains and backlinks should all be evaluated as spam links influence website performance – weed them out.

5 Keyword analysis. Audit what keywords can generate high-value organic search traffic on your content and determine where these keywords rank your brand. Understand the keywords bringing traffic and how the traffic is converting to clients. Auditing tools help you understand how keyword ranking affects your site performance.

6 Content evaluation. Your content should be based on what interests your audience. Audit your content to determine what value they are adding to your brand. Know what pages are generating high-value traffic and how to leverage this information to boost your website performance. Auditing will provide actionable data about content optimized for target keywords, time spent by visitors engaging on specific content, duplicate content issues, meta description, target keywords, among others. Use the report to develop an SEO strategy that has an action plan for your content creation. This information will help you understand what competing firms are not doing and could improve your brands’ understanding of what areas to focus on.

7 On-page optimization. Auditing on-page includes looking at header tags, missing elements in pages, page title length, URL, and ALT tags on images.

8 Site design and architecture. The goal of search engines is to ensure clients get a safe and enjoyable experience. To keep up, brands should evaluate customers’ behavior and experience. Improve customer experience by ensuring your site is mobile-friendly, secured HTTPS, and easy navigation. These are key areas that search engines use to rank websites, negative reports injure your online visibility and website performance.

10 Execution. Once you point out areas that require action, do not hesitate to find solutions. The primary goal of an SEO audit is to find what interferes with your website performance; however, it should be geared on priorities. Take action on recommendations based on how crucial they are, and ensure all recommendations are looked into eventually.

SEO Auditing Tools

Here is a list of some reputable and incredible auditing tools you can use for your SEO audit.

1. Google search console It is a product of Google and it was previously known as Google’s Webmaster Tools. It is a free tool with powerful capabilities that anyone can utilize. It provides its clients with news and updates from google. In case of any mishap in your website, Google instantly notifies you.

Google Search Console also has powerful search analytics and capable of conducting audits on the total number of clicks, number of impressions, average click-through rate, average position, link analysis, manual actions taken by a search engine, and mobile-friendliness among others.

2. SEMRush One of the key advantages of this tool is how it outlines keyword change in position. It can easily conduct a competitive analysis on keywords, rank them, and display what pages are linking to the keywords. It has a free version but with limited usage but has a paid version with incredible tools. Use it to also conduct an audit on average click-through rate, average position, link analysis, page speed, and many other areas.

3. Ninja SEO It is one of the best SEO auditing tools in the market. It enables you to conduct page audits analyzing your website on the primary key basis and checking errors that damage your overall visibility in SERPs. It does a website audit by crawling the page in seconds and providing reports on all minor and major issues. It also identifies broken links on your website that lowers your content ranking and fixes them to improve your website health and content rating. It analyses your speed and improves it by rectifying errors that hinder user experience. It comes with a 30-day free subscription and an infinity suite that you can subscribe to for $50.

4. Google Analytics It provides a pool of information to any SEO. It provides an x-rayed report on your traffic and visitors’ behavior. You can monitor what readers are doing on your site and the time they spent on your content. It outlays key information on the average time users spend on site besides issues like page speed, webpage ranking, and keyword analysis. Engaging content is what will improve your content visibility in search engines, the information provided by this software will help develop valuable, relevant, and trending content readers will like. https://www.freepik.com/premium-vector/audit-concept-illustration_9371575.htm#page=1&query=SEO%20audit&position=8

How SEO Audit tools help improve website performance

SEO audits are vital in improving website performance and they do this in the following ways.

1. Find SEO weaknesses. Auditing your website will help you understand what issues are damaging your website performance. It will also enable you to stay updated with changing search engine algorithms. Search engines rank website performance and visibility using different metrics now and then. With an SEO auditing tool, brands can determine issues damaging their online presence and find suitable solutions to change this.

2. Evaluate competition Auditing is not only about your site but also what other competing sites are doing. You can analyze various aspects of your competitors’ websites to know their strengths, weaknesses, and where you can beat them. An SEO audit tool will analyze keywords your competitors use and where you rank, it will also look at your competitor’s site backlinks and determine which ones are spam and can even provide an opportunity to replace a competitor’s backlink with yours. Auditing your competitors will shed light on the strategy they are using and what mobile site they are utilizing. Furthermore, you will know how they are generating traffic, and if they are generating engagement from social media.

3. Improve your brand’s marketing SEO audit will outline what causes your site’s downtime. Things that affect usability such as customized 404 pages, favicons, or structured data mark-up improve users’ experience. Optimizing these and indexing and crawling issues boost brands’ organic search ranking. Search engines rank highly sites that provide apt user experience such as mobile usability.

4. Content audit and site health. Engaging content attracts more click through and conversion of leads. Auditing the website will outline what hinders your content ranking. Content ranking eventually improves website performance, thus, it needs constant scrutiny to ensure its relevance. An audit also outlines the health of webpages and suggests what issues should be improved.

5. Evaluate content consistency and quality Web content should be easy to read and engaging to intrigue the readers to share it. The ranking of content affects website performance and visibility. Through auditing, you get to understand the quality and consistency of your content as well as areas of improvement.

6. Improve user experience Auditing enables brands to improve various issues such as slow loading times, spam links, content quality among others. This eventually improves user experience and generates traffic. Through auditing, brands can ensure their content is mobile friendly. Slightly over 55% of search engine traffic is from mobile phones and tablets. Search engine rewards sites optimized for mobile and desktop use.

The Key Takeaway

One of the indicators of a healthy website is its loading time. An SEO audit will help you identify the issues affecting your website so you can effectively nip them in the bud before they cause extensive damage to your website’s reputation both on the interwebs and to your target audience. It is also advisable that you use a reliable SEO audit tool that will give you more insights about your website.

If you are a virtual accounting company with high hopes to grow your business, then you need to merge your cloud accounting services with AI for better results.

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With the urge to high precision and increased regulation along with the furious demands of clients, it has become necessary for accounting businesses to adopt a new style of the workforce to serve their clients. Accounting companies need a task support system that can simplify their workflow and without demanding anything in return. This new cloud accounting services system requires some artificial resources along with qualified human force – artificial intelligence.

Artificial Intelligence for a Virtual Accounting Company

Artificial Intelligence – a capacity of machine and software to reflect a cognitive intelligence. AI tools imitate the capacity to think, learn and react like a human being. It is a technology that can offer great leverage to the professions where intensive training is required.

In cloud accounting, a high level of technical precision and a strong ability to make the right decisions are prerequisites. Accounting companies have to perform various roles for their clients like auditors, tax consultants, payroll manager and much more. Some of the accounting companies’ roles can be simplified with a touch of artificial intelligence where human capabilities are amplified.

CapActix is a live example of an online accounting outsourcing company where artificial intelligence meets cloud accounting. With this amalgamation, 80% of better productivity and efficiency is offered by us. That’s because artificial intelligence is boon for the industry where a large amount of data needs to be processed and analyzed by humans.

What Happens When AI meets Cloud Accounting

When two dramatic technologies of the accounting industry – AI and cloud computing come together, then they leave a very positive and modern impact on the accounting industry. Wondering how? Let’s see the parts of cloud accounting where artificial intelligence can leave its impact.

Compliance of Accounting Rules
With AI governance, accounting companies can ensure that high standards of rules can be set in the organization and make sure that they are being followed. This stream can help virtual accounting companies in evaluating the performance of their employees and implement HR policies. AI can analyze human behaviour by examining the patterns of their work style. This technology will help accounting firms in establishing some ground rules for their in house and outsourced teams to run the accounting operations smoothly.

Bliss for Closing Season
Every accounting company has to put extra effort during the season end when they need to access the financial position of their clients. In this process, artificial intelligence can be very useful as it can crunch a large number of data faster than any human being. AI can provide data to accounting companies at the end of the accounting year from multiple different resources, consolidate, and merge it. This will eventually speed up the monthly or yearly close up for companies and they can easily anticipate their current financial resources and make timely decisions.

Helpful in Filling Boring Paperwork
Accounting companies have to file numerous papers on behalf of their clients, it is a boring task, but mandatory. However, with artificial intelligence, the methods of filling paperwork with different file formats have become super easy. Additionally, data integrated by AI tools can be easily modified by humans as well. AI can process a large amount of unstructured data effortlessly and makes the procurement of paperless work possible. This even enables accounts to easily track prices and change them as per the prevailing market rates at the moment.

Automation of Financial Management
A perfect implementation of AI with rightly allocated tools can result in the increased productivity and top-notch level of financial resources management. Globally accountants are today using various different accounting software from CRM platforms to business management tools to smoothen their workflow. Now, with the constant evaluation of artificial intelligence number of automation management platforms are launched daily to increase the abilities of accountants. Thus, it is clear that AI will help accounting companies in getting insightful data to effectively manage the resources of their clients.

Prediction & Forecast
One of the primary responsibility of the accounting firms – to help their clients in forecasting their financial conditions. When AI is integrated into accounting software, then the accountant will be able to share the comprehensive and correct insightful to their clients. With the ease of quick evaluation of the day to day accounting reports, you will be able to better predict the future of your client’s company and can take effective steps before any problems. Cloud accounting is thrived by intelligence because all the data can be collected and accessed from one place instead of different locations that make forecasting fast and accurate.

Presence of OCR
Optical character recognition isn’t new but AI enhances its accuracy significantly and opens it to new usage scenarios. It has been always possible to extract data from documents with the help of OCR, but with a touch of artificial intelligence, the ability of OCR has gone one notch up.

Computers are the best at processing and analysing numbers, but they can only work on those numbers that are shared by humans. They can’t fathom numbers on the priority basis; human interference is required for this. However, with AI and OCR amalgamation – it is possible to recognize the type of documents and their importance. This means now the computer can easily read information from purchase receipts and arrange them as per your priority and accomplish the entire process without any human intelligence.

Easy Bookkeeping
Accounting companies have to maintain a large number of accounting books to make final statements. Now, as invoice management software is already powered with artificial intelligence technology – the process of making account receivable and payable has become more streamlined. Accountants don’t need to enter the same entries again and again as AI will automatically handle that. Such as if your client pays monthly office rent $1000, then your invoice management tool will automatically make this entry each month, however, you can alter the amount manually if any changes have been incurred in the amount.

Clean Auditing
Auditing accounting books have been a challenging task for accounting firms. But, now with the artificial intelligence oriented tools, this process has become breezy for accounting professionals. The digital files can be easily accessed by a designated person who improves the security level of the confidential files and data.

As a result, during the auditing process, auditors don’t need to look up for the storage cabinets to get essential documents. They can easily access digital files of any financial year with few taps. This will increase the efficiency of auditors and empower them to audit entire documents of the company for the present and the past with a 100% accuracy level.

AI is for Cloud Accounting

Artificial intelligence has empowered accountants in multiple ways and given them an opportunity to grow. This technology has lots of layers that can be customized to uplift the grade of the accounting industry with the help of various streams like cloud accounting services, expenses management, AI chatbots and much more.

Now, if you are seeking an online accounting outsourcing service provider that supports AI technology, then without wasting another second drop your queries at CapActix using the following information – email [email protected] or can call on +1 201-778-0509.