Outsourced Your Accounting Service With PayrollBD

Outsourced accounting services are becoming increasingly popular. When comparably affordable professionals are accessible outside of the firm, it no longer makes financial sense to pay salary and benefits to an in-house accounting team. When you consider that outsourced accounting services give you direct access to a group of accountants with a wide range of professional experience, relying on outside experts makes even more sense. Let's look at why, in 2022, more business owners and CEOs will opt for outsourced accounting services.

As a result, according to small business outsourcing statistics, 37% of all accounting and IT duties are outsourced. Digital marketing duties come in second at 34%, followed by development and human resources at 28%.

When accounting projects are outsourced, they are allocated to an outside team of accounting specialists. Though not all accounting activities must be outsourced, an increasing number of businesses are realizing the benefits of entrusting the vast majority of accounting obligations to outside experts. The surge in accounting outsourcing makes even more sense as more companies migrate to remote work in response to the continuing coronavirus outbreak.

Pros

1. If you outsource your accounting, your in-house employees can concentrate on what they do best.

2. In contrast to in-house employees, outside outsourcing specialists are not required to have salaries, benefits, or other perks.  

3. Accounting experts at outside companies have a fully staffed team of number crunchers, so you will have direct access to accountants.                        

Cons

1. If you send accounting projects in-house, you can't just head over to a cubicle to ask a question.

2. A temporary accounting service relationship means there is a possibility for the cost to change over time as the relationship ends. 

3. Be sure that the outside accountants and your business understand the contract terms at the beginning of your partnership.

Top Reasons To Consider Outsourced Accounting 

Staff Accountant

In-House Accountant

Outsourced Accountant

Annual Saving

Savings Percentage

Annual Salary

$ 41, 800

$ 24,000

$ 17,800

43%

Payroll Tax (10%)

$ 4, 180

None

$ 4,180

100%

Employee Benifits

$ 18,000

None

$ 18,000

100%

The Bottom Line

$ 63,980

$ 24,000

$ 39,980

62%

Regardless of the size or complexity of your accounting projects, our accounting professionals are ready to help. If you need help with reporting, developing a sound financial strategy, streamlining invoices, or anything else related to accounting, we can help. We follow generally recognized accounting standards (GAAP), putting in place the best accounting practices for your company. Whether you're wanting to outsource all or part of your accounting duties, our hr staff can assist you.

Remote access to your accounting and other financial information is simple with our virtual accounting service. This data is available at all times, 24/7/365. Our team even creates a shortcut for your computer to make printing checks, sending payments, and other accounting and bookkeeping duties easier. In brief, we offer all of the advantages of in-house accounting at a lower cost and with greater reliability.

Take advantage of the opportunity to outsource your accounting services, and you and the rest of your in-house staff will finally be able to focus on your core competencies. PayrollBD welcomes the difficulties of all types of accounting initiatives, allowing your company to reach its full potential. For more information about PayrollBD's outsourced accounting services, contact us today. You can also contact us via our easy-to-use online contact form.

https://www.payroll.com.bd/blog/hr/how-outsourced-accounting-services-can-help-your-business-in-2022/