Outsourcing means getting the designated work done from an outsider that is outside source. There are many companies that use outsourcing to get their work done. This service is mostly taken up and also given by entrepreneurs because they are a one man company and often need service that are out of their knowledge which is why they take up outsourced bookkeeping to get their important work done.Outsourced bookkeeping means to get some outside source to keep all the track ad records of your company’s sales and profits and losses. Many companies offer offshore, onshore outsourcing and they can be customized according to the demand of the people. Outsourced bookkeeping is a way to reduce the stress and burden of keeping record of everything.
What exactly is bookkeeping?
Bookkeeping is very different from accounting. Bookkeeping means to prepare the data and information that would help in preparing a financial statement. Bookkeeping is quite similar to accounting but it is not accounting exactly. In bookkeeping, the day to day transactions are noted and the sales, expenses, revenues and profit loss is determined and calculated. The information is then prepared and provided to the accountant for further procedure. So the main work of the bookkeeper is to prepare the complete data for the accountant.
Most mentioned outsource bookkeeping services:
The top 4 outsourced bookkeeping companies are mentioned below:
It is a very reputable company that has existed for several years and ha been providing the best outsource services to people all over the world and they are very good at their job.
Outsource to India:
It is a very good example of how to do the work by the hour. Although it is a big risk for western companies to send their data so far from home and get it outsourced, the quality of work beats all the doubts once it is tried which is why they are on the top of the list.
It is a very good company for outsourced bookkeeping because it focuses on only one thing and that is the primary level bookkeeping. It helps the amateur and new companies in setting up and building their companies from the ground up which is why they are liked this much by the people.
oDesk is a company that is famous for bringing the new freelance workers together to get them both benefits that they are looking for. They serve the purpose of a marketplace. Their price for every individual freelancer is different and is decided individually.
Outsourced bookkeeping for small businesses:
For small business, having good accounting record is the most important option for success because the track of expenses and profits and losses is what the business is completely based on and if even that is not properly recorded, it would be very difficult to take the mall business to a higher level because there would be no system or record of the expenses and incomings.