What is Outsourced Bookkeeping?
Outsourced bookkeeping is when you hire a third-party company to manage your financial records and accounting tasks. This can include recording transactions, reconciling bank statements, generating financial reports, and managing payroll. Businesses of all sizes can benefit from outsourced bookkeeping services, but it can be particularly helpful for small businesses that don’t have the resources to hire a full-time bookkeeper.
Why do Businesses Outsource Bookkeeping Services Offshore?
There are several reasons why businesses choose to outsource bookkeeping services offshore. One of the most common reasons is to save money. Labour costs in many offshore locations are significantly lower than in developed countries. Additionally, businesses can avoid the overhead costs associated with hiring a full-time employee, such as payroll taxes and benefits.
Another reason businesses outsource bookkeeping services offshore is to access a larger pool of talent. Many offshore locations have a large number of highly skilled and experienced bookkeepers. This can be particularly helpful for businesses that need specialised bookkeeping services.
Finally, businesses may choose to outsource bookkeeping services offshore to free up internal resources. This allows businesses to focus on their core competencies and leave the bookkeeping to the experts.
Benefits of Outsourcing Bookkeeping Services Offshore
There are many benefits to outsourcing bookkeeping services offshore, including:
- Cost savings: Businesses can save a significant amount of money by outsourcing bookkeeping services offshore.
- Access to a larger pool of talent: Many offshore locations have a large number of highly skilled and experienced bookkeepers.
- Improved accuracy: Bookkeeping errors can be costly. By outsourcing bookkeeping services, businesses can reduce the risk of errors.
- Increased efficiency: Bookkeeping can be time-consuming. By outsourcing bookkeeping services, businesses can free up internal resources and improve efficiency.
- Focus on core competencies: Businesses can focus on their core competencies and leave the bookkeeping to the experts.
Types of Outsourced Bookkeeping Services
There are a variety of outsourced bookkeeping services available, including:
- Basic bookkeeping: This includes recording transactions, reconciling bank statements, and generating financial reports.
- Payroll processing: This includes calculating payroll taxes, withholding taxes, and issuing paychecks.
- Tax preparation: This includes preparing and filing tax returns.
- Forensic accounting: This includes investigating financial fraud and other irregularities.
What are the Costs Associated in Outsourcing Bookkeeping Services?
The cost of outsourcing bookkeeping services varies depending on several factors, including the type of services required, the volume of transactions, and the location of the provider. However, businesses can typically expect to save a significant amount of money by outsourcing bookkeeping services offshore.
The Flat Planet Advantage
Flat Planet is a leading provider of outsourced bookkeeping services. We have a team of experienced and qualified bookkeepers who can provide a wide range of services, including basic bookkeeping, payroll processing, and tax preparation. We are committed to providing our clients with accurate and reliable bookkeeping services at a competitive price.
Here are some of the advantages of choosing Flat Planet for your outsourced bookkeeping needs:
- Experienced and qualified bookkeepers: We have a team of experienced and qualified bookkeepers who can provide a wide range of services.
- Competitive pricing: We offer competitive pricing on all of our bookkeeping services.
- Accurate and reliable services: We are committed to providing our clients with accurate and reliable bookkeeping services.
- Excellent customer service: We provide excellent customer service and are always available to answer your questions.
Outsourcing bookkeeping services to the Philippines can be a great way to save money, access a larger pool of talent, and improve efficiency. If you are considering outsourcing your bookkeeping needs, Flat Planet is a great option. We offer a wide range of services at a competitive price. Contact us today to learn more about our services.
About Flat Planet:
Established in 2010, Flat Planet® is a family-owned, Australian-operated leading provider of high-value outsourced staffing solutions. Connecting businesses worldwide with skilled talent in Southeast Asia, offering a competitive edge through cost-effective, high-quality staffing solutions. With offices in the Philippines, Vietnam, and Malaysia, we employ over 400 staff serving global clients. Our state-of-the-art infrastructure and blend of local and Australian management practices ensure excellence in service delivery. At Flat Planet, we’re committed to creating pathways to a brighter future – not only by providing businesses access to a globally competitive workforce but also by supporting initiatives like our Gift of Life project, which funds critical heart surgeries for children in need.
For more information on how Flat Planet can empower your business while making a positive impact, visit flatplanet.com.au or email us on info@flatplanet.com.
