Updated: Aug 20, 2021
Bookkeeping is a method to organize financial records and transactions of a company in a systematic manner. Maintaining professional and solid records of accounting practices is one of the most important part of a growing business.
To ensure the record of every individual transaction requires a lot of time from your business hours, which can effect your business growth.
For managing financial records of your business or non-profit organization efficiently, you need to hire a bookkeeper. Because without bookkeeper, you will find your self and your business in a big financial trouble.
If you are a start-up and managing your business online and don’t want to get extra cost of one more employee then, outsourcing can be the best option.
It is basically hiring a bookkeeper outside of your company for a specific task to reduce the workload and get work done effectively and faster.
Benefits of Outsource bookkeeping-
It can work as a cost-cutting measure.
Companies can easily focus on the core aspects of a business.
Rather than your accounts being done by regular employees, they can be handed over to someone very experienced at a minimal cost.
It can simplify your tax preparation and lighten your burden.
Why India is a good option for outsourcing bookkeeping?
India is a developing country, many new technologies are been introduced here and with that India is been great with providing the best services across the world in various fields.
Not only restricted to companies of India but also for business firms across the world, India is a good option for them to outsource their bookkeeping at efficient prices.
Nowadays, advanced economies like the USA and Canada are wielding great demand for outsourcing for taking their businesses to greater heights.
Choosing India for outsourcing their bookkeeping can give them several benefits:-
Variability In Education: In India, both Indian and international accounting standards are taught to students. Therefore, they can handle any type of accounts flawlessly.
Advantage Of Timezone: India is 11-12 hours ahead of USA and UK time, this can be counted as a huge advantage for getting work done earlier. Also, CPA firms i.e Certified Public Accountants, provide 24*7 services to their client to work above the expectations of the client.
Cost-Effective Services: Whenever we are going through our expenses chart, one thing which bothers us most is how can we lower our expenses, with our services getting done at minimal costs? India is a rescue to that for many countries in terms of huge accounting costs. For example, One US dollar is approximately equal to INR 70, which shows outsourcing bookkeeping services from India very much affordable and can benefits both countries accordingly.
No Language Barriers: In India, students are perfectly taught English and can fluently speak it professionally and work on that.This removes a huge language barrier leaves a minimal chance of disappointing clients with the work.
India is considered a goldmine of outsourcing accounting or bookkeeping services, because of its technical support and highly efficient and experienced accountants.
Under bookkeeping, India provides several outsourcing services:
Invoice generation services.
Tracking accounts receivables services.
Generating accounts receivable reports.
Tracking accounts payable services.
Trial balances and P&L accounts services.
General ledger maintenance services.
Payroll processing services.
Compilation of tax returns services.
If you’re looking for an outsource bookkeeping service, and confused about whom to choose? Then India is undoubtedly the best option for you.