It is a full-fledged accounting and financial reporting that works for your organization and providing you with the same outputs of having an in-house accounting department and accountants. It covers all the functions and tasks that any accounting department would perform and produce. We receive your financial transactions and instructions daily. We process them, book the related entries, and maintain the audit trail according to the best practices, standards, and relevant local to produce the required financial information and statements.

1. Better use of time. By outsourcing your accounting operations, you free up valuable time that can be better spent elsewhere. Pouring over the books on back-end office operations can be a huge hassle that takes away precious company time. This time can be better spent on daily operations and bringing in new customers. Get the distractions of in-house accounting out of your office by outsourcing your accounting function and let you focus on your business and its development.
2. Cut down on costs. Outsourced accounting operations save you money by eliminating costly benefits packages to a full-time or part-time employee. When you outsource accounting, you only pay for the actual accounting, nothing else. This saves in productivity costs as well as payroll costs. The cost-benefit analysis of outsourced accounting vs in-house accounting can save you significantly in monthly costs.
3. Reduced Fraud. According to the Association of Certified Fraud Examiner’s study, the most common victims of fraud are privately owned small businesses with less than 100 employees with an astounding median fraud amount of $147,000. This is because most small companies don’t have access to a controller or CFO who could look at the KPI and metrics that show abnormal activity in the transactional and billing data. Accounting controls and external audits are responsible for 26% of the cases in the study for detecting or preventing fraud. With Outsourced accounting, small businesses can afford a CFO/controller who can look for fraud signs and implement proper fraud protection controls.
4. Accountants know accounting. By outsourcing your accounting operations to a professional accounting firm, you effectively hire a team of experts. Professional accountants know the tax codes and laws backwards and forwards—it’s their job. They work around the clock for your business by keeping up with the latest tax information, affording you full-time coverage for only part-time pay. Staffing options are considered and executed per task, so you’ll only have the most experienced and qualified individuals on your side, right where you need them.
5. Collaborative accounting is better. No matter how you look at it, having a team of professional accountants working on your books is going to be better than having an in-house employee keeping them. Whether it’s you, a part-time accountant or a full-time employee who takes on the task of accounting, the job is just not getting the proper attention. There are many loopholes and exemptions, and one individual is just not enough to find them all for you. Outsourcing your accounting operations affords you a team of people, all double-checking each other to ensure that all the pertinent findings are being found.
   This also means that you can have your departments separate from each other. With just one in-house accountant, it’s too challenging to hold departmental purchasing and spending individually accountable. This creates cracks for services to fall through. With a team of accountants, the workforce is suitable for separating all of the departments and getting down to the nitty-gritty of each sector, allowing the fine-toothed comb to find more ways for you to keep your money.
6. Scalable options. Last but certainly not least, we have scalable options. When you outsource your accounting operations, it becomes simple to expand and grow your business or find places to cut down spending. We can provide you with lists of options, giving you valuable feedback and suggestions that will raise your profits at the end of the day. Whatever your long-term goals are with your business, earning more money—and keeping more of it—will help you achieve them. Essentially, outsourcing gives you tons of flexibility and options.

It includes all functions that any accounting department would do. This would include and not limited to the following:

• Daily booking of financial transactions;
• Generating of accounts receivables due dates reports and ageing;
• Monthly reconciliation of bank accounts;
• Regular reconciliations of debtors and suppliers accounts;
• Detailed financial statements and reporting;
• Budgeting and financial forecasting;
• Cash flow monitoring;
• Payroll processing;
• Accounts payable and receivable;
• Monthly closings;
• Balance sheets;
• Cash balance tracking;
• General ledger maintenance;
• Credit card reconciliations;
• Accounting backlog.

Yes, of course. We serve clients based in some of the most sophisticated payroll tax jurisdictions. We process their payroll regularly, including bi-weekly, and their paycheques and related payroll taxes.

It depends on the average range number of transactions. Once we scope the services and understand your requirements and expectations, we guarantee you the most competitive rate.