Wednesday 4 December 2013

Quickbooks Outsourcing Tips And Suggestions

Software applications have simplified accounting and bookkeeping. Instead of using calculators and excel to keep accounts, companies are now using different types of software applications. QuickBooks is a good example. Perhaps you already have QuickBooks in your office but your in-house accountant does not know how to use it. Instead of sending them away for training, you should try Quickbooks outsourcing services. In other words you should look for third-party accountants who have unrivaled knowledge in the use of this accounting software.

To get the best Quickbook outsourcing deals, you should use the internet. As well consider offshore accountants who do not overrate their services. The best farming out hub in Asia is India. The country is a leader in IT matters and so use of QuickBook and other accounting software tools is no big deal. In order to pick a reliable service provider, you might want to hire a US-based accounting firm that has branches outside the country. This firm will be the safest Quickbooks outsourcing partner.

It completely understands US business laws and accounting principles and ethics. So you would be right to assume that its offshore accountants can work as if they are Americans. Understanding of English language is important as well. Again this will not be a big bother as long as you try Quickbooks outsourcing through a US-based firm that has subsidiaries abroad. The main reason why local entrepreneurs buy QuickBooks services from foreigners is fair rates.

Local accountants will give you an average rate of 100 to 250 dollars per hour. This will however depend on the complexity of your work. If you buy Quickbooks outsourcing services from abroad, you might save more than one hundred dollars per hour. Offshore accountants often ask for very low rates for high quality results. Some might charge only $20 per hour. This amount is certainly a lot of money in places like Africa and Asia. Quickbooks outsourcing accounting include the following activities.

• Adding customer invoices and supplier bills to the software.

• Reconciling entered data against accounts such as bank, merchant and credit card.

• Producing statements on bank reconciliation, profit and loss account, balance sheet, accounts receivable and accounts payable among others.

• Processing vendor bills via QuickBooks.

• Preparation and filing of payroll tax returns

• Preparation and processing of sales taxes to local and state agencies.

• Filing 1099s and W2 tax reports at the end of the year.

• Saving e-files and documents in folders

• Any other customer activities.

Because you want high quality results, you must as well be organized prior to hiring any online company. List all the accounting duties you would like to farm out. This will help the service provider create an affordable custom-made rate for you. Also you must be concerned about the security of business data. You do not want to risk using an independent online accountant that does not fully encrypt their server. So as you pick the best Quickbooks outsourcing company online, you should ask about your privacy. Many companies use VPN technology to encrypt their servers.

Outsourcing QuickBooks Bookkeeping improves financial operations as well as increased the level of efficiency while at the same time curtailing risks and costs. There are many QuickBooks Bookkeeping Services that cater to small and medium businesses worldwide.

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