BENEFITS OF OUTSOURCED ACCOUNTING AND BOOKKEEPING SERVICES

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It takes resources to manage it, from creating a recruitment strategy to selecting right resouces, recruit and retain them. The recruitment process takes your business time, it costs, and you will need to devote the time either for yourself or the employee. This article offers curated and up-to-date facts about the Philippine outsourcing industry to optimize your strategy. Use this as a reference when planning to outsource operations to the country. You can reduce your bookkeeping costs to $1,000 to $5,000 per month, which is equivalent to $12,000 to $60,000 per year when you outsource bookkeeping for your small business. According to a report published in 2015, 40% of small companies rank tax preparation and bookkeeping as the worst part of running a business.

The 8 Best Virtual and Outsourced Accounting Services for Small Businesses in 2023

So even without a bookkeeper, you’ll be able to see your finances in real time, have complete control of your entire accounting process, and stay on the good side of the IRS. Unlike most other outsourced bookkeepers on our list, Merritt Bookkeeping doesn’t offer any in-house add-ons for payroll and tax services. If you were hoping for a one-stop shop that can tackle all of your financial needs, Merritt might not be the right choice for you. For those who need detailed reporting with their accounting solutions, this app delivers it all. The service can handle complex accounting tasks with ease and manage everything to assist your small business in creating better profits. You’ll find credit card and account management tools, financial analysis and reporting tools, and more.

Custom pricing is available for those who want accrual accounting and fractional CFO services combined, while Essential plans start at just $300 per month. You can enjoy assistance with bank syncing and creating account reports, as well as budgets and more. You will have to have a separate QuickBooks Online subscription to use this service, but it offers a lot of basic assistance to those who need a simple bookkeeping solution. https://www.bookstime.com/articles/outsourced-bookkeeping Every user starts the first month for $500, which is dedicated to cleaning up the accounting and getting the platform set up. Rated as the largest professional bookkeeping service in America, Bench has a lot of great features to love. It makes the top of the list because it offers catch-up services to get your books up-to-date and get things organized before diving into an ongoing strategy for bookkeeping maintenance.

Outsourced Bookkeeping with G-Squared Partners

You can also book monthly check-ins and tax reviews without paying an extra fee. Their dedicated team may also assist you with some of your other accounting needs and financial reporting requirements in addition to bookkeeping services. While there are a ton of outsourcing options out there (and I certainly am leaving quite a few out!), I wanted to briefly mention D&V Philippines.

They offer a diverse range of solutions for bookkeeping and accounting, including the newest service, QuickBooks Live. With this service, you’ll get a dedicated bookkeeper for your business with no contract required. The secure online network ensures that your data is protected and there are four subscription levels to choose from. Custom pricing is available for those with more than 300 transactions per month and small business plans start at less than $500 a month, which is impressive for virtual bookkeeping. You do have to pay a little more for some features, but it’s got a lot to offer. Those in need of a full-service accounting solution will find a lot to appreciate at Bookkeeper.com.