- Our Team
December 27, 2019
– Reasons to Outsource Accounting –
A 2018 survey conducted by the Association of Certified Fraud Examiners found that internal control weaknesses were responsible for nearly half of frauds. Small organizations (less than 100 employees) experienced the greatest percentage of fraud and suffered the largest median loss when compared to larger organizations. This could be due to the fact that larger entities typically have more resources to invest in their internal controls and anti-fraud programs. For smaller businesses, the internal control may just be the owner overseeing everything themselves. Making just one change to your business structure could greatly lower the chance of experiencing theft losses. That one change is to outsource your accounting. By outsourcing your business’ accounting, you improve your segregation of duties, receive timely financials, and can spend more time focusing on the business, all at a cost that won’t break the bank.
Just as the government has checks and balances, so should your business. Segregation of duties ensures that at least two individuals are responsible for separate parts of any task. This reduces your risk for fraud as it prevents any single person from having too much power.
Outsourcing your accounting with Hobe and Lucas’ Client Accounting Services (CAS):
Hobe & Lucas is here to provide a cost effective way to help your business take care of business. Outsourcing your accounting with us will enhance your internal control structure by reducing your probability of fraud occurrences and increasing the efficiencies of your business overall. You will receive timely reconciliations and financials, giving you the ability to always know your financial position for better debt monitoring and tax projections. Putting your back office accounting services in our hands will free up your time to do all of the things that “there just aren’t enough hours in the day” for.
Questions? Ready to get started? Contact us for a quote today!
December 19, 2023
The IRS has announced the 2024 optional standard mileage rates used to calculate the deductible costs of operating a vehicle for business, charitable, medical or moving purposes. Background: If you use a vehicle for business driving, you can generally deduct the actual expenses attributable to your business use. This includes expenses such as gas, oil, […]
September 5, 2023
In many companies, employees drive during the course of their jobs — to make deliveries, visit customers or pick up supplies. In some cases, they use their own cars, which can offer several business advantages, including that you don’t: Beware of Unexpected Situations The Insurance Information Institute notes that business owners often don’t realize the liability […]