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Accounting  Outsourcing

 

 

 More and more companies are looking towards reducing costs, improving operating efficiency, and concentrate on their core competencies to achieve high performance. The option is to outsource the Accounting function to a specialist company. This enables the company to leverage the expertise of the vendor and  at the same time avoid dependence on internal staff in non-core areas. With this Accounting Outsourcing the company can concentrate on core business activities and maintain a foothold on top market positions.

   As per some estimates ,  approximately 70 percent of all banks rely, in some manner, on external service providers (ESPs) which include software vendors for mission-critical operations as well as Accounting software operation and maintenance. It is reported that Accounting outsourcing  may help companies cut finance and accounting operating costs by as much as 30 to 50 percent.

Some areas are :

  1. Monthly Bookkeeping & Accounting Outsourcing
    1. Payment of bills
    2. Recording  receipts   bank deposits and input credits
    3. Payroll
    4. Payroll tax deposits
    5. Bank reconciliation
    6. Generate trial balance and financial statements
  2. Quarterly Analysis & Reporting
    1. Analysis and review of quarterly financial results
    2. Preparation of payroll tax returns
  3. Annual Accounting & Tax Services
    1. Prepare personal property return
    2. Prepare and review federal and state corporate tax returns
    3. Prepare payroll tax returns