FinTax Experts India helps SMEs with offshore bookkeeping services, accounting solutions, and tax preparation services. The company is headquartered in India and is based in multiple locations like the USA, UK, Australia, and Canada. There are numerous firms throughout the world providing offshore accounting services to a variety of sectors.

We, at CapActix, are one stop solutions provider for all your Accounting and Finance need. Thus, it is crucial that the offshore accounting firm you choose has the ability to scale its services in line with your growth trajectory. They should be able to seamlessly step up their services, whether it involves managing a larger volume of tasks or dealing with more complex accounting functions. The firm should have a robust data protection framework that covers physical security measures, IT security protocols, and regular staff training on data privacy.

Efficient Offshore Accounting Services

Tools like QuickBooks and Xero are commonly used in the industry and can dramatically improve the efficiency of accounting operations. Ensure your offshore team is well-versed with these platforms and can utilize them effectively to manage your accounting needs. With the help of an offshoring partner, your business can offer round-the-clock services. This is due to time zone differences among partner countries, which lead to different working hours for your in-house and offshore employees.

• New technology undoubtedly positively impacts the accounting sector and ensures efficiency and, in turn, growth.
• This choice is straightforward and efficient, bridging the gap between the distant offshore alternative and the close-to-home onshore services.
• At Velan, our offshore accounting services encompass a wide spectrum of financial solutions designed to cater to the distinctive requirements of our clients.
• Accounting Seed, for businesses looking to integrate accounting seamlessly with their Salesforce CRM, Accounting Seed is an ideal choice.

A Junior Accountant at Black & White Zebra, Vidhi is an ACCA Member with six years of accounting experience. Contact Us to make the transition to an efficient accounting system that empowers your business. For example, the time difference between India and the USA is approximately 12 hours. This makes it extremely challenging for both sides to work simultaneously or brainstorm over a problem together. Andy is a technology & marketing leader who has delivered award-winning and world-first experiences. Additionally, a good CPA firm (Certified Public Accountant) may help reduce the tax you pay as they’ll usually be updated with new tax laws and concessions.

Are bookkeeping and accounting different?

Or, your full-time accountant may not be trained enough to carry out complicated work like tax calculation or payroll processing. Tax preparation involves calculating, preparing, how to check if an ein is valid and filing income tax returns- especially during the year end. You’ll have to create and balance accounting books, prepare tax and financial reports, file returns, and more.

Can I do my own bookkeeping for my business?

A responsive and helpful customer service team ensures a smooth experience and timely resolution of any concerns. Bookkeepers must pay meticulous attention to even the smallest of details to ensure accurate financial records and reporting. Do you feel overwhelmed by the prospect of preparing a company financial statement? If that’s the case, an OA firm is here to assist you with completing a financial statement. The accountants ensure that your information is properly and openly prepared so you can deal with it easily. Combining your offshore and in-house accounting teams can help you finish tasks more quickly.

For example, a new accountant may need your help to learn the accounting software your firm uses. On the other hand, an offshore accountant can complete the task quickly using the software they have. If you enjoy organization and numbers and have experience with bookkeeping, starting your own business offering this service might be a smart career choice. There are dozens and dozens of bookkeeping options available and the choices may seem overwhelming.

However, it can be difficult to bring the whole team together during an urgent team meeting or business emergency as their working hours will differ. Time zone differences can be a double-edged sword for companies looking to offshore their accounting services. Here are some major limitations of offshoring your accounting needs to an external service provider. Now let’s take a look at some of the drawbacks of offshoring accounting tasks to a foreign country. However, many offshore companies have a dedicated cybersecurity channel and a complete in-house data security team.

Offshore Staffing for CPA and Accounting Firms

After taking their service, immediately we saw an immense improvement in our accounting and internal control system. This has enabled us to focus on our core business activities without worrying of accounting and internal control system. We work based on cost effective delivery model that enable you to enjoy bookkeeper to CFO services from our team of trained professionals including CPA, ACCA, CFA, CMA and MBA.

Considering offshore team’s cost-effectiveness

And, a benefit of offshore accounting is that it allows you to scale your employees as needed. When you need extra help, you may quickly hire some assistance and scale down your workers when your core business is finished. You won’t have to worry about missing tax deadlines or providing incomplete requirements on time.

This can lead to extended work hours, enabling quicker response times for clients or partners in different parts of the world. ✔ Taxation aspects – our offshore outsourced accountants will account for VAT, GST, income tax, sales tax and use tax, tax returns and filings and all other taxation aspects of the business. We have 15 VCFOs today and 30 senior accountants who report to them and each senior accountant has at least 1 offshore staff to assist them. With the added cost advantage, we are able to expand our clientele and in turn, it is fueling hiring of both on-shore as well as offshore staff. However, when you offshore accounting to a CPA (Certified Public Accountant) or any other CPA firm, you must ensure that they fit your unique business requirements. In this section, we’ll mention some top service providers who can take care of your accounting needs.