Accounting service companies provide a full range of services from payroll to collecting accounts receivable to bookkeeping and accounting processes. Small business owners are attracted by the projected savings in employee costs and additional savings in their time, which is better spent on their company’s core business activity. Additional services available through an accounting service include processing accounts payable, issuing payments and producing monthly reports. Accounting services typically process payments and produce their reports faster than a small staff can and keep information timely for those who monitor costs, procurement and inventory. Another account that many services can administer is accounts receivable. This includes monitoring payments, crediting accounts and dealing with past due accounts.
Additional accounting services offered of particular interest to small business include complete bookkeeping services and assistance with tax preparation.