Page 18 • April 2, 2020 • Edmond Life & Leisure

Arledge Q&A
The benefits of outsourcing
your accounting services
(Editor’s Note: LaDonna service provider, you also hire
Sinning of Arledge & Associ- their systems. This gives busi-
ates answers questions ness owners access to the in-
below on accounting.) dustry’s latest and best
technology with an expert liai-
Q: What are the benefits son as a guide.
of outsourcing accounting Q: How can outsourcing
responsibilities? benefit a business’ bottom
A: There are a number of line?
reasons for business owners Sinning A: Outsourced accounting
to consider outsourcing providers apply the time and
bookkeeping and accounting respon- expertise to ensure compliance and
sibilities. Delegating these tasks to up-to-date data and reporting. Consis-
professionals in the field often serves tently reviewing financial data and re-
to alleviate unnecessary pressure, free ports can help businesses assess their
up valuable time and allow employ- performance and be more strategic
ees and business owners to focus on moving forward. Strategic reporting
the business itself, rather than spend- reviewed by a trained eye can help a
ing time on necessary, but often pe- business identify unprofitable clients,
ripheral, finance-related tasks. issues with the timing of payments
Business owners are likely to find that and receivables and more. It can also
outsourcing reduces risks and costs, help businesses interpret the financial
increases efficiency and offers deeper success of marketing efforts and
insight into the financial health and other nuances that, when properly
opportunities in their business. managed, have the potential to dra-
Q: How can a business owner matically steer the success of a busi-
know if outsourcing is the right step ness. Most importantly, business
for their company? owners often find that outsourcing al-
A: If your company is outgrowing lows them to focus their skills, time
its bookkeeping and accounting and talent directly into what they do
team, outsourcing is an obvious cor- best - growing their business.
rective action. Some reasons to out- LaDonna Sinning, CPA, CFE, is a
source, however, are less obvious and partner at Arledge and Associates,
might require taking a deeper look PC, an Edmond-based accounting
into your company, staff and capabili- firm. Arledge and Associates, PC is a
ties. Many business owners are sur- recognized leader in the accounting
prised to find a poorly managed back industry offering practical solutions in
office is negatively impacting their the areas of tax planning, auditing,
company’s bottom line. Other busi- consulting, accounting advisory serv-
nesses might find their accounting ices and client accounting. Through
staff is overloaded, increasing the risk its Gateway Executive Solutions divi-
of employee error, or worse, fraud. sion, the firm offers outsourced CFO,
These are indications that it’s time to controller and cloud-based account-
consider hiring a reputable out- ing solutions. 
sourced accounting provider. This article contains general infor-
Q: What other services can an ex- mation only and does not constitute
ternal accounting provider offer? tax advice or any other professional
A: Outsourcing opens many busi- services. Before making any decisions
ness owners up to technology and or taking any action that might affect
data they were not previously access- your income taxes, you should con-
ing. Whether bound by habit or time, sult a professional tax advisor. This
many businesses do not apply the re- article is not intended for and cannot
search or resources into incorporating be used to avoid future penalties that
the technology and platforms to best may be imposed by the Internal Rev-
suit their business. When you hire a enue Service.

Fraud
From Page 17

Beneficiaries should be cautious of disaster@leo.gov.

unsolicited requests for their
Medicare or Medicaid numbers.
Be suspicious of any unexpected
calls or visitors offering COVID-19
tests or supplies. If your personal in-
formation is compromised, it may be
used in other fraud schemes.
Ignore offers or advertisements for
COVID-19 testing or treatments on
social media sites.
A physician or other trusted health-
care provider should assess your con-
dition and approve any requests for
COVID-19 testing.
If you suspect COVID-19 fraud,
contact the National Center for Disas-
ter Fraud Hotline (866) 720-5721 or
“Also, many members may have
questions about their health coverage
at this time,” Vaughn said. “We are
committed to helping our members
stay informed about COVID-19. We
are closely monitoring the situation
and following recommendations from
the CDC and the state health depart-
ment.”
Regarding member coverage, Glob-
alHealth does not require prior au-
thorization and will not apply
member cost shares for testing to di-
agnose COVID-19. For more informa-
tion about health coverage, members
should call the number on their mem-
ber ID card.

Answers to this week’s puzzles