Accounts Outsourcing In India
Accounts Outsourcing In India – The Cost Effective Way
Many small or medium sized businesses now a days outsourcing their accounting divisions to other
companies so that they can focus more on other important works of the company.
Some businesses outsource their accounting divisions just to cut their cost as hiring and training
accounting professionals and buying accounting software is a costly affair. Companies easily get
outsourcing services at just 40-50% of the total cost invested by the company in purchasing the software
and hiring the accounting professionals.
Many companies provide outsourcing services to other companies at less cost as per client needs &
requirements. Companies providing outsourcing services gives a big boost to the businesses which are
unable to manage their work load and looking for outsourcing companies to outsource their modules.
The outsourcing activity is growing at a fast pace and India is considered as the best option. It is done by
companies in order to manage other activities of the business in more efficient, productive and
profitable way.
What Is Included In Our Package?
Eligibility Consultation
Document Preparation
Application Drafting
Government Fees
Why Accounting Division Outsourced By The Companies?
Accounting division is outsourced by the companies because of the following reasons –
1. In order to focus and manage other business activities.
2. It makes your work easier as there is no need to hire or train accountants and to buy new accounting
software.
3. Complete confidentiality and data security to the outsourcing company
4. To boost your bottom line with less staff
5. To save cost up to 70%
6. To enhance productivity and efficiency up to 50%.
7. To save cost up to 70%
8. Continuity in finance and accounting functions
What Types Of Accounting Services Are Outsourced In India?
General Accounting & Bookkeeping Services
General accounting & bookkeeping services include maintenance of day to day bookkeeping, monthly
accounts, quarterly accounts etc.
Preparation Of Financial Statements
Preparation of annual accounts for annual statutory audit. Our services include –
1. Invoice/order processing
2. Fixed assets management
3. Financial write-up services
4. Financial budgeting
5. Cash forecasting
6. Accounts reconciliation
7. Sales order management
8. Financial statement preparation
9. Financial reports
Preparations Of Tax Returns
Tax returns are also outsourced by the companies which include preparation of GST, income tax returns,
other returns etc. Everything is outsourced from planning, tax processing to ling of taxes to the income
tax department.
Payroll Services
Payroll assistance given by the companies comprises of preparation of salary of employees, bonus &
commission calculations and payments, tax deduction from salary and submission of the same to the
income tax department before the deadline.
Cash Forecasting Services
Analyzing of cash requirements of the business and providing assistance to the companies in cash
forecasting.
Debt Collection Services
Outsourcing is done by companies for debt collection too. Many companies provide assistance for debt
recovery and taking necessary legal action.
Cash Handling Services
Many companies provide assistance in operation and monitoring of high interest deposits and current
accounts.
Payment To Creditors
Payment to creditors is also one of the most important elements of a business and many companies
provide assistance in relation to payment to creditors and their management.
E-Accounting Services
Assistance provided in relation to e-accounting functions of the business.
Accounting Set Up Services
Any business can achieve their business objectives by taking assistance from the companies providing
accounting set up services. These companies help & assist them in setting up their accounting modules.
List Of Accounting Outsourcing Companies
1. Genpact
2. KPMG
3. TCS
4. WNS global services
5. OHI