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