Outsourced Accounting FAQ
Your FAQ (frequent accounting questions) answered.
FAQ about our outsourced bookkeeping and accounting services:
Pricing & Onboarding
ORBA’s Cloud CFO outsourced accounting services include:
Additionally we offer custom managed accounting services to meet your company’s unique needs. For example:
We can execute the first bookkeeping tasks within one week and the total onboarding process is normally wrapped up in 5-6 weeks.
Learn more about how we onboard new clients.
We can automate your weekly and monthly accounting needs (accounts payable, receivable and monthly reconciliations) to take the load off your operations team. They can focus on running the business while you focus on growing your business.
We’ve also found these cloud accounting services to be invaluable for our nonprofit clients.
No. Onboarding should be a seamless transition where you go about business as usual.
We love this question. Here are some benefits of our outsourced accounting services:
- Save the equivalent of one full-time employee’s salary plus additional savings of up to 30%.
- Get access to the latest cloud accounting tools and real-time insight into your books.
- Strategize with CFO coaching and increase profitability at a fraction of a C-level salary.
- Gain cross-industry expertise you can’t find from a single controller.
- Gain a team of self-sufficient professionals that believe in your success.
Bookkeeping & Accounting
Once you have completed the onboarding process, your company will be assigned an associate and manager. The associate takes care of most of the daily and weekly bookkeeping needs.
All controller-level monthly review and reporting will be handled by our managers.
Together with our team, we’ll decide how frequently you need check-ins, but we often have weekly ones for the small stuff and monthly ones to cover the month-end close.
Our team is very proactive, so we often will come to you before you even know you needed a check-in.
No. But we do have a base package that might still be too robust for some smaller businesses just starting out.
Yes. But that’s something we can help with through the onboarding process.
Of course! We customize our approach to meet your needs and business goals.
Yes! Even nonprofits can grow. In fact, nonprofits currently make up 16% of our customer base. There’s a lot we can offer: bookkeeping, monthly reconciliations, donor reporting, and fund management to name a few.
Click here to review our nonprofit accounting services.
We use a number of online accounting tools including QuickBooks, Xero, NetSuite, Gusto, Bill.com and others.
The best one for your business depends on a number of factors like your business model, size (i.e. do you have more than one entity) and revenue.
We can help advise you on the right time to scale up your software and if needed help with NetSuite implementation.
No. We’re not an offshore company.
Our employees are U.S.-based, mostly in the Chicago-area.
Our clients saw an average revenue growth of 25% from 2019-2020.
Looking for any of the below? We’ve got you covered for outsourced financial reports:
- Balance sheet and profit and loss statements
- Cash flow forecasting
- Budget variance analysis
- Capital spends
- Investor reporting
- Cost reporting
- Financial modeling
- Break-even analysis
- Labor cost analysis
The cloud solutions we use combined with our best practices provides you with real-time insight to make more nimble business decisions. In addition, we get to you know you and your business so we’re providing the reports you need before you’ve even asked for them.
A surprising majority of our clients come to us with incomplete financial reporting; we’re here to fix that.
Being accountants, we’ve crunched the numbers and we know for our average client we’re saving them the equivalent of one full-time employee’s hours each week!
STILL HAVE QuestionS?
Ostrow Reisin Berk & Abrams, Ltd.
NBC Tower, Suite 1500
455 N. Cityfront Plaza Dr.
Chicago, IL 60611-5313
P 312.670.7444 | F 312.670.8301