Frequently Asked Questions
Here’s a list of the most frequently asked questions by our customers, when they outsource finance and accounting services to CM Associate. In case the question you are looking for is not answered below, or not addressed satisfactorily, please feel free to contact us.
What is the Role of an Accountant?
An accountant has many duties and responsibilities. Let’s take a look:
- An accountant is responsible for financial accounting and reporting
- He takes care of the auditing process
- He helps in preparing tax documents
- He provides management services and consulting
- An accountant is responsible for financial analysis
- He plays a major role in cash management
Why should I choose CM Associate to outsource finance and accounting services?
Outsourcing finance and accounting services to CM Associate offer you multiple advantages, key among those are:
- Huge cost savings
- No Infrastructural or administrative hassles
- Increased productivity and efficiency
- Easy access to skilled resources
- Less dependency on internal resources
How to maintain accounting accuracy?
There are some ways that can help you in maintaining accounting accuracy. Let’s take a look:
- You need to identify revenue streams to maintain accounting accuracy.
- You need to keep a track of invoices and receipts
- Preparing tax returns is a good way to avoid penalties
- Preparing financial statements is another way to maintain accounting accuracy.
- You should always keep an eye on the deductible expenses.
Should I have my bookkeeping completed every month?
Not necessarily – monthly, quarterly, or annually. However, you enjoy the maximum benefits when your records are updated regularly. Many of our clients prefer receiving updated information each month and we highly recommend it to you.
I have an accountant already. Can I still use your service?
Absolutely. You can use our bookkeeping service. We will provide all necessary records and reports to your accountant. We are happy to answer any questions and assist your accountant to maximize the value of both our services and your accountant’s services. In fact, if you have a particular issue that we feel requires the advice of an expert, we will provide you with a reference to a local professional and will work with them until the issue is properly resolved.
What if I am audited by the government?
We understand it can be stressful when you are chosen by the government for an audit. We will respond to any government inquiry and assist in preparing the documents requested by the government.
How should I structure my small business?
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