There is no I in Team
Here at Jitasa, we love best practices. We follow strict protocols to ensure the safety of our client’s accounts, as all accountants should. This is the main reason that we operate on a team based approach. We believe that every account should have multiple team members that understand it inside and out and share responsibilities to maintain its integrity.
We also operate as a team because an accounting department requires a variety of skills - someone who knows the ins and outs of the system - be it Quickbooks or otherwise. Someone who can perform financial analysis, read and interpret financial statements, who knows the intricate IRS rules on grant allocations, etc. In addition, when an accounting team is assembled, it often has bookkeepers and accountants on it. This is because they don’t do the same work. Bookkeepers do things like data entry, record daily activities, write checks, make deposits, process payroll etc. An Accountant however, deals with the more finite issues of an account such as, balancing both sides of a transaction, determines how transactions affect your accounts, prepare your books for audit, complete yearly 990, they are basically the detective on the account.
Often nonprofits struggle to find all of this in a single person. If you get someone overly qualified, they get bored doing the day to day bookkeeping. If you get someone who is great at data entry and bookkeeping, you may sacrifice quality at the higher level, more complex tasks. Outsourcing to a team-based service provider, instead of outsourcing to an individual freelancer or consultant, can be a cost-effective way to get access to a whole variety of skills.
Thinking about outsourcing? Read 27 Questions to ask an outsourcing agency.