OUTSOURCED BOOKKEEPING - MODEL FOR ENTREPRENEURS IN MANUFACTURING
Are you an entrepreneur working in manufacturing industry? So you have to cope with many issues. Like cost cutting, staying ahead of competitors, reviewing performance of your business, analyzing profit-able and non-profitable activities of your business, and also maintaining financial records of your business, paying salaries monthly/weekly, and filing tax returns.
All that requires effort and concentration, while if you focus on these secondary activities, you may not be able to focus on your core business like developing new ways of manufacturing processes, marketing your products and ensuring smooth supply chain mechanisms.
You will be in much better position to cope with these issues if you are outsourcing your accounting department. By outsourcing bookkeeping [http://www.businessvein.com] and outsourcing accounting [http://www.businessvein.com] you would be having following benefits:
1. Reduced cost of maintaining accounts because outsourced accountants and outsourced bookkeepers are available at approximately half the rate of in-house accountants. This is particularly because business process outsourcing (BPO) firms are established in developing economies, whose currencies are weaker than pounds and dollars, so they get much money in their currency and you pay much less in your currency. This is in the benefit of both outsourcing firm and your business.
Bookkeepers at offshore are also available at lower costs because of low rate of wages and salaries in developing countries. So you can have expert services of an experienced accountant maintaining your books as good as a qualified accountant in your own country.
2. Range of accounting softwares supported by BPO firms is wide, almost all firms provide services for most of the accounting softwares including QuickBooks consultancy, MYOB consultancy, and other accounting softwares consultancy. In they consultancy they will guide you about features of all these accounting softwares and would recommend you a suitable one.
This would be particularly useful for a manufacturing business to track their costs, identify cost drivers, report profit-able units and many other weekly and monthly reports which analyze performance of business and employees. If you are thinking that why outsource your accounts to an offshore accounting services firm and concerned about data privacy and want to know how it works, then let me tell you that you really don't need to be worried about these issues. Outsourced accounting firms use secure server for transfer of files between you and them. The process of how outsourced accounting works is very easy to understand. You simply send them sourced documents (bank vouchers, deposit slips, invoices, bills, cash vouchers) either through fax or email and they (your outsourced bookkeepers) update books of accounts for you either at their system or at your system by remote access. You receive updated books overnight.
3. Staff of outsourcing firms is mostly comprised of Masters in Business Administrations, Chartered Accountants, Management Accountants, Masters in IT, and Masters of Marketing Management. This gives you surety that your books are being maintained by professionals of the field and you also enjoy CPA services at cheapest rates. To search a a quality bookkeeper you should visit page of client testimonials at website of outsourced bookkeepers, or you may like to visit contact us and out clients pages to get a better understanding of quality of work. There are also some virtual accountants which provide free trial for their services.
4. Manufacturing business would get following advantages if they outsourced their accounting function.
- Reduced costs
- Qualified professionals maintaining accounting books
- Focus on your core activities
- Useful Reports generated to monitor business performance
- Identify sick products and departments
- Decrease your inventory cost by estimated stock needs
- Avail bookkeeping at QuickBooks, Peachtree, MYOB or whatever software you use
All that requires effort and concentration, while if you focus on these secondary activities, you may not be able to focus on your core business like developing new ways of manufacturing processes, marketing your products and ensuring smooth supply chain mechanisms.
You will be in much better position to cope with these issues if you are outsourcing your accounting department. By outsourcing bookkeeping [http://www.businessvein.com] and outsourcing accounting [http://www.businessvein.com] you would be having following benefits:
1. Reduced cost of maintaining accounts because outsourced accountants and outsourced bookkeepers are available at approximately half the rate of in-house accountants. This is particularly because business process outsourcing (BPO) firms are established in developing economies, whose currencies are weaker than pounds and dollars, so they get much money in their currency and you pay much less in your currency. This is in the benefit of both outsourcing firm and your business.
Bookkeepers at offshore are also available at lower costs because of low rate of wages and salaries in developing countries. So you can have expert services of an experienced accountant maintaining your books as good as a qualified accountant in your own country.
2. Range of accounting softwares supported by BPO firms is wide, almost all firms provide services for most of the accounting softwares including QuickBooks consultancy, MYOB consultancy, and other accounting softwares consultancy. In they consultancy they will guide you about features of all these accounting softwares and would recommend you a suitable one.
This would be particularly useful for a manufacturing business to track their costs, identify cost drivers, report profit-able units and many other weekly and monthly reports which analyze performance of business and employees. If you are thinking that why outsource your accounts to an offshore accounting services firm and concerned about data privacy and want to know how it works, then let me tell you that you really don't need to be worried about these issues. Outsourced accounting firms use secure server for transfer of files between you and them. The process of how outsourced accounting works is very easy to understand. You simply send them sourced documents (bank vouchers, deposit slips, invoices, bills, cash vouchers) either through fax or email and they (your outsourced bookkeepers) update books of accounts for you either at their system or at your system by remote access. You receive updated books overnight.
3. Staff of outsourcing firms is mostly comprised of Masters in Business Administrations, Chartered Accountants, Management Accountants, Masters in IT, and Masters of Marketing Management. This gives you surety that your books are being maintained by professionals of the field and you also enjoy CPA services at cheapest rates. To search a a quality bookkeeper you should visit page of client testimonials at website of outsourced bookkeepers, or you may like to visit contact us and out clients pages to get a better understanding of quality of work. There are also some virtual accountants which provide free trial for their services.
4. Manufacturing business would get following advantages if they outsourced their accounting function.
- Reduced costs
- Qualified professionals maintaining accounting books
- Focus on your core activities
- Useful Reports generated to monitor business performance
- Identify sick products and departments
- Decrease your inventory cost by estimated stock needs
- Avail bookkeeping at QuickBooks, Peachtree, MYOB or whatever software you use
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