Overview
- Outsourcing bookkeeping services to the Philippines offers US businesses guaranteed access to the best professionals who can simplify their financial management processes.
- Big Outsource offers access to expert Filipino workers skilled in various bookkeeping tasks. They can deliver dependable results through tailored processes and consistent communication, all while remaining adaptable to shifts in business goals.
Managing your company’s finances is essential, but with dozens of accounts to handle and figures to interpret, it can be very overwhelming. That’s why you may be considering offshoring accounting tasks here in the Philippines. But before committing, you need to understand exactly what it entails.
Knowing what to expect with outsourced bookkeeping to the Philippines is key to choosing a strong financial management setup. At Big Outsource, our skilled team of professionals can help you handle complex accounting processes as you chase your business goals. Read on to learn more.
Why Should You Outsource Bookkeeping to the Philippines?
While it’s true that an on-site team enables direct supervision, their qualifications can vary widely when put into practice. You might need to invest more of your budget in bookkeeping training to meet your company’s standards.
Outsourcing to the Philippines enables companies to tap into a highly skilled talent pool of bookkeepers at a fraction of US costs. Offshoring firms like Big Outsource make this process easier by providing pre-vetted certified professionals, such as CPAs, CMAs, and QuickBooks ProAdvisors—ready to handle essential financial tasks without the expenses associated with traditional hiring.
What Services Can Outsourced Bookkeepers in the Philippines Provide?
Professional Filipino bookkeepers handle the full spectrum of financial operations daily. Below are some of the essential services outsourced experts can fulfill.
Day-to-day Transaction Recording
They pay meticulous attention to detail by ensuring every sale and expense is promptly recorded, giving you a clear view of your business’s financial health for smarter decision-making.
They are also adept at using modern tools to capture the inflow and outflow of your revenue. By maintaining data integrity at all times, they provide you with dependable records that support your daily financial operations.
Financial Reporting and Analysis
They deliver meaningful insights through their reports. Rather than one vague general document, they prepare comprehensive income statements and cash flow reports to provide you with full clarity.
You can then use their analysis to seize opportunities and anticipate challenges as early as possible. Outsourced bookkeepers present you with data you can turn into actionable business intelligence.
Invoicing and Payroll
If you want to maintain a stable business, make sure everyone in your company is paid correctly in a timely manner. Outsourced professionals have a great understanding of this, which is why you can rely on them to conduct invoice generation and payroll runs with impressive efficiency.
They navigate both local and international payroll regulations to ensure regulatory compliance. With fewer delays and disputes, staff are more likely to place trust in you as their business partner and employer.
Tax Preparation
When tax season arrives, businesses in the U.S. may get overwhelmed trying to get their finances in order. But this isn’t the case when Filipino bookkeepers are on the job. They manage tax documentation and prepare filings in line with the U.S regulatory requirements.
Their expertise covers both local and global tax compliance, meaning you can rest assured you’ll face little to no risks of penalties. With them handling tax matters, you can focus on growing your business without fear of making costly mistakes.
Reconciliation
Maintaining accurate books requires reconciling every transaction against internal ledgers. Philippine bookkeeping teams follow a systematic process where discrepancies are investigated and promptly corrected, providing clear documentation for audits.
This process includes regular checks for incorrectly recorded data, preventing small errors from turning into bigger financial inaccuracies.
How Does Outsourced Bookkeeping Work?
Outsourced bookkeeping follows the same processes you’re used to, but with extra measures to ensure efficiency. Take a closer look at how it works below.
Onboarding and System Integration
During onboarding, the offshored team reviews your existing financial software, chart of accounts, and historical records.
They then map this information into standardized workflows to ensure accurate data capture and easy assimilation into your company’s unique management processes.
Standardizing Daily Processes
Bookkeepers handle daily transactional recording while following high-standard procedures and your company’s specific instructions.
This customized approach keeps financial data error-free and compliant, giving management real-time insight into your company’s finances.
Communication and Review
Regular updates and review sessions provide full visibility into ongoing bookkeeping activities.
They summarize performance and highlight areas of concern so decision-makers stay informed without managing routine tasks themselves.
Hire Professional Bookkeepers Today with Big Outsource
We understand that bookkeeping is an essential yet complex part of financial management. Our teams can manage workflows accurately and efficiently, ensuring US-based businesses stay on top of their financial obligations at all times.
By combining technical skill with structured processes, our teams deliver a level of service you can count on as your business grows.
Key Takeaway
Understanding what to expect with outsourced bookkeeping in the Philippines allows US businesses to set clear expectations on what they can bring to the table. Contact us today to gain the ideal support you need for your business’s financial objectives.
