Accounting Outsourcing is outsourcing services to a third-party provider with a talent pool of qualified candidates who are well-versed in accounting principles, able to work comfortably with numbers, can adapt to a fast-paced work environment, have excellent accuracy, attention to detail, planning and organizational and communication skills. Aside from these the ideal candidate should also be well-versed in accounting softwares.
The responsibilities of an outsourced accountant include providing support to a company and contributing to the overall efficient operation of the department with tasks that include processing invoices, maintaining accounting records, auditing financial documents and procedures, reconciling bank statements, and calculating tax payments and returns.
Other skills that businesses may outsource to offshore accounting teams are the following:
- Manage all accounting transactions and operations and financial activities
- Prepare and analyze budget forecasts
- Publish financial statements in time
- Handle monthly, quarterly and annual closings
- Reconcile accounts payable and receivable
- Ensure timely bank payments
- Computer taxes and prepare tax returns
- Manage balance sheets and profit/loss statements
- Report on the company’s financial health and liquidity
- Audit financial transactions and documents
- Reinforce financial data confidentiality and conduct database backups when necessary
- Comply with financial policies and regulations
Accountants should be able to provide accurate quantitative information on the financial position, liquidity, and cash flows of our business, and ensures compliance with tax regulations.
Businesses looking to outsource Accounting functions can hire the following:
- Bookkeepers
- Accounting Associates
- Junior CPAs
- Senior CPAs
- Controllers
