Outsourcing Accounting - The Master Tool For Your Business Success   by Amitaabh Saboo

in Finance / Accounting    (submitted 2010-02-22)

The accounting process is the easiest procedure to be outsourced. Thus, accounting outsourcing is born. It has now become global. There are numerous companies providing accounting outsourcing. It has been developed to be the practical way to meet the pressures of tax preparation. It is the best move to have more profits and subsequently to help your business grow, without having to take in a growing staff or workers. It provides the clients the chance to profit with the help of the resources that already exist.

Outsourcing Is Cheaper
Accounting outsourcing comes out to be cheaper as compared to the cost of having the traditional bookkeeper. Bookkeepers and other related positions within the office can be expensive. You do not only consider the salary, but also the other cost directly associated to it, like taxes, medical insurance, overtime pay, retirement benefits, and other assistance. That's not the end, in-house accounting staff also enjoys vacation and sick leave. Then you can also save on expenses for advertisements, interviews, written and screen examinations. There is also the need for the continued trainings of employees, which is needed if you want them to be more knowledgeable. All these involve expense for the business, and all of these can be minimized when opting for accounting outsourcing. You do not only save money, but you also save on time as well.
Outsourcing Means Reducing Work
Since in accounting outsourcing all transactions are maintained, doing report preparation or specifically the year-end report is no longer a problem. General ledgers and its subsidiary schedules are part of accounting outsourcing. All the transactions and the recording process is done by the outsource, that is why you do not have the problem to do it anymore. The business is saved from the overwhelming year-end work, and in effect, they also reduce accounting fees. Preparing the tax returns and all the financial statements will be faster, and not to mention, efficient.
When to Outsource Accounting
Accounting outsourcing does not add a position to your business. But every business needs to employ bookkeepers, and that would mean you need to hire one. But since it is logical to do what can give your business less expenses, then it is time to focus on outsourcing accounting. It is one excellent alternative solution. You are guaranteed highly qualified help, without having difficulty in looking for them. Now, as the business owner or as a manager, you get to focus more on other equally important activities that your business is going through. There is no need to worry in accounting outsourcing, the bookkeepers or accountants are accurate, consistent and most important, organized. Accounting outsourcing is the best move to get your business going.
Outsourcing Procedures
There are three easy steps to for an easy accounting process:
1. Scan and upload all the source documents (sales report, invoices, payroll data, and other related documents).
2. The outsource does the work while your business continues the usual business operation.
3. Download and print the finished report by the outsource.