Bookkeeping Outsourcing: Leading the World to Higher Profits

By: Michelle Barkley


Bookkeeping, as we all know it is a very mundane task. What people think is that bookkeeping is the same as accounting but they are very different. Bookkeeping means recording of the transactions in various books. Daily transactions like a sale has a multiple transactions, first it going in the sales book and gets recorded as sales, then it gets deducted from the inventory that one has, third it should go into the cash account if its cash sales or should go into the debtors accounts if it is credit sales. All this makes the task not only tedious but also if one forgets on small detail like entering the numbers into a particular book the entire balance sheet would go for a spin. All this makes book keeping a very minute task and hence makes it mandatory for business houses to opt for bookkeeping outsourcing.

The reasons why business houses would opt for bookkeeping outsourcing are plenty. A few of them are explained as under.
First book keeping requires the staff to minutely record all entries and if they are lethargic or bored or absentminded then they could make a mistake of recording a wrong amount or recording the entry in the wrong book. This would turn out to be added work for the owner and create stress and tension. Hence the staff should be able to concentrate at all times. This does not happen as there are various distractions in the work place.

Bookkeeping is such a task that it does not require a mental challenge. Once a person gets used to recording the entries that is all he has to do until the end of time. This makes it mundane and the employee gets frustrated while repeating the same task day in and day out. Not only would the worker lose his productivity he would not be satisfied with his current job and would then look for other options available to him. And also because it is such a mundane task the businessman has to give the employee a good pay package to retain the employee. This pay package along with insurance and other perquisites would become too much to pay for a job that does not even require average amount of intelligence. The employer would get a raw deal and business figures would take a set back.

Book keeping outsourcing provides the employer with all the facilities he would need at dirt cheap prices and amazing quality of work offered. This is because the countries who indulge in bookkeeping outsourcing are developing countries where the standard of living is very low and this makes even one forth of the salaries given to a worker there look highly attractive.

The business owner would get only profits, if he would make the smart decision of opting for outsourcing. But he has to make sure the company doing the outsourcing is a reputed one who has had experience in the field. The time difference would not be such a big problem since the employees there are ready to work even in the middle of the night.

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Michelle Barkley is a CPA who advises people on tax preparation and tax calculation. She specializes in Finance accounting outsourcing, bookkeeping outsourcing, accounting outsourcing. To know more about Tax return outsourcing, Back office outsourcing, Bookkeeping Outsourcing and Tax return visit www.ifrworld.com

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