Outsourced Accounting Services: A Founder’s Guide

Hiring internally as your business and client demands grow can be a slow and costly endeavor. Learn how to keep your team happy with 5 effective employee engagement strategies. But that’s exactly what you’ll experience by selecting the wrong provider, which is why we’ve summarized the top five most vital things to look for in a partner. Once you’ve set your sights on outsourcing, the road to choosing a provider might get a little bumpy. As you can see, India and the Philippines are the top outsourcing hubs.

But if your business model is a very niche, tax, audit‑heavy, complex industry‑specific accounting, they might not be the best fit. They offer global entity setup using EOR services to simplify payroll, compliance, tax, and employment administration. But the firm believes that for optimal cost savings, you can start by establishing a small financial team with them from the get-go. They aim to help businesses set up a small to substantial financial department with a moderate investment. Their services are priced moderately and can also go up to niche ones like global compliance and reporting. Their U.S. office alone has 7,000+ skilled accounting professionals who help growing mid to enterprise-size businesses.

D. Ignoring Data Security Risks

Outsourcing accounting means hiring an external firm or specialist to handle your business’s financial tasks instead of managing them in-house.
This accounting and financial outsourcing provider located in Panama is considered a resource for many U.S. clients.
At Knowcraft Analytics, she works on valuation engagements for financial and tax reporting purposes, including ESOPs, purchase price allocations and M&A advisory engagements.

Managing in-house accountants can be way easier than handling outsourced accounting teams. The misconception many businesses have is that technology support is provided by outsourcing accountants. Your in-house financial team can be summoned at any time by you for urgent matters, while this is tough with an outsourced team. They may come at a higher cost, and sometimes these experts can be inexperienced in complex accounting tasks and issues. Choosing between an in-house financial team or an outsourced financial and accounting team is tough. Outsourcing financial and accounting often means hiring an external, specialized firm (or team) to handle some or all of a company’s financial and accounting functions.

Supplement and strategically guide their current accounting function or B. However, we’re here to tell you that not only can all companies benefit from outsourcing, but small- to mid-sized organizations might just have the most to gain. Juhi is an experienced content creator with a deep understanding of audience engagement and brand storytelling. However, an important note you should follow is that outsourcing requires trust. These top choices can help you quickly jump into outsourcing at reasonable rates without the need for vetting them on every step and specialty. When it comes to finances, you can never rely on a provider that doesn’t follow data security, expertise, industry relevance, and other common factors.

Their professionals bring an average of 15 years of experience gained at Fortune 500 companies and Big 4 firms. The company has supported over 1,000 businesses across industries like technology, eCommerce, and healthcare. The firm offers accounting services in 3 languages, ensuring that it can communicate effectively with a broad clientele. This extensive experience allows Manay CPA to handle the complexities that many small businesses face. The firm has a solid track record for having worked with over 5,000 clients and managed upwards of $500 million in accounting transactions.

Maintain compliance with regulatory requirements

Get in touch with one of our experts and see how outsourcing can fit into your accounting strategy. With more than 35 years of experience across multiple time zones, we can help you find, hire, and retain top talent, all the while saving you money and time (a win-win solution). Here at Personiv, we understand the ins and outs of outsourcing and what it takes to succeed in today’s growing accounting landscape. Despite these advantages, it’s also important to consider the disadvantages of outsourcing accounting to the Philippines. Just like India has pros and cons when outsourcing accounting, so does the Philippines. Better yet, you may wonder why you should outsource your finance what is allocation tasks rather than taking the traditional in-house approach.

B. Checking Client Reviews and Testimonials

At Knowcraft Analytics, she works on valuation engagements for financial and tax reporting purposes, including ESOPs, purchase price allocations and M&A advisory engagements. Prior to joining Knowcraft Analytics he worked with medium to big size CPA firms with a variety of individual clients as well as business verticals. Pankaj has over 15 years of rich experience in accounting, tax and finance industry serving multi-national FMCG company and finance & accounting service provider.

Budget planning and forecasting

At Knowcraft, Mit’s core focus lies in enhancing operational efficiency, managing treasury functions, and steering key and versatile projects to enhance revenue, implement cost controls, M&A, and support global expansions.
They handle the day-to-day financial management, freeing you up to concentrate on your core operations and growth strategies.
What sets Bookkeeper360 apart is its commitment to hiring full-time, W-2 employees rather than outsourcing work.
Leena holds an MBA in HR & Marketing and has worked as an educator for more than 5 years with business schools & management institutes.
Running a small business often means managing everything at once.

A professional firm ensures your books are always accurate and defensible, so you can capitalize on major opportunities with confidence and maximize the value of your business. Being transaction-ready means having pristine, audit-proof financials at all times, not just scrambling to clean things up at the last minute. For more complex services like tax planning or audits, fees can go higher. On average, small businesses can expect to pay between $500 to $2,500 per month. Or a growing business looking for advanced tax planning and payroll? A question we often get is, “What types of accounting services can I outsource?

Time savings

To ensure a successful outsourcing arrangement, assess your business needs, select a reputable provider, and maintain clear communication. By following these tips, you’ll build a strong partnership with your outsourcing provider, enhancing the efficiency and effectiveness of your accounting functions. This careful selection process will help ensure a smooth and effective outsourcing experience. Moreover, experienced outsourced accountants use advanced software and have established processes to accrual basis of accounting minimize errors, saving you money on corrections and penalties. For small businesses like yours, this approach can be a game-changer. This creates a powerful partnership where your in-house team gains a valuable resource, making your entire finance function more efficient and effective.

Decide who on your team will communicate with the accountants. Chances are, they will suggest an accounting platform or tools to streamline the process. The clearer you are about your needs, the better they can customize their services. Share what you expect from them, whether it is monthly reports, tax prep, or help with payroll.

Top 11 EOR Partners for U.S. SaaS Companies Looking to Hire Offshore Talent

At Knowcraft Analytics, he primarily works on engagements related to financial and tax reporting. He also has additional valuation experience performing reports for audit and tax reviews. At Knowcraft Analytics, he has experience in performing valuation services pertaining to 409A analyses, intangible assets/purchase price allocations, estate and gift valuations, goodwill impairment, and incremental borrowing rate analyses. He was part of the core team in establishing tax practice and closely worked with onshore clients to transition the process. He provides technical support to clients as well as team members.

It is often selected to improve efficiency, reduce manual workload, and gain access to expert support without full-time hires. Outsourcing is commonly used by solo founders and small teams that lack internal accounting staff. Access is typically maintained in real time or on a fixed reporting schedule. Businesses can select specific functions such as bookkeeping, payroll, reporting, or full-service packages based on their internal capabilities and budget.

They can either work directly for your clients on a referral basis or through a white-label accounting solution on the back end while you remain on the customer-facing side. The team recommends talent based on your requirements, giving you the final say over which outsourced talent to onboard. These services include tasks like balancing the ledger and expense tracking. However, finding a reputable and affordable firm you can trust to deliver for your clients can be challenging. Learn what it is, why businesses do it to improve focus and manag…

Outsourced Accounting 2025: Benefits, Services & Choosing Partners

Revathi brings a wealth of knowledge with over a decade of experience in US direct taxation (high net-worth individuals). Manish has been with Knowcraft Analytics since 2016 and brings over 8 years of experience in the valuation industry across various sectors, including life sciences, healthcare, and technology. Proven track record in managing and delivering results for Big 4 clients, overseeing the filing of more than 12,000 tax returns annually. At Knowcraft Analytics, she plays a key role in delivering accurate financial reporting and has also collaborated with the Transaction Advisory group in the past, adding depth to her analytical expertise. At Knowcraft Analytics, Vinay is responsible for day-to-day bookkeeping, revenue recognition, accounts payable and receivable, as well as the preparation and analysis of financial statements.

Manay CPA is a well-established accounting firm that has built a reputation for supporting small businesses across the United States with expert financial services. The team at QX Accounting Services then takes over various accounting tasks, ranging from routine bookkeeping to complex tax preparation and financial analysis. Enhance your accounting firm’s capacity and efficiency with our expert outsourced accounting services tailored for CPA firms. Cadencia is a Mexico-based company that gives firms access to a pool of outsourced accounting and finance professionals.

Tasks like bookkeeping, financial reporting, and payroll what is the accounting treatment for an asset that is fully depreciated taxes often become overwhelming, leading to stress and inefficiency. This approach not only supports compliance with regulatory requirements but also aids in strategic decision-making by providing comprehensive insights into the financial health of the business. While traditional accounting practices often focus on specific aspects of financial management such as tax filing and financial statement preparation, CAS provides a more integrated approach. We pride ourselves on our ability to adapt our services to the specific requirements of your firm, offering personalized support that aligns seamlessly with your business objectives. Our team of skilled professionals is dedicated to providing top-tier accounting outsourcing services, ensuring that every task is executed with the highest level of precision and efficiency.

Additionally, he prepares comprehensive financial statements—including Balance Sheets, Income Statements, and Cash Flow Statements—along with supporting documentation. He is proficient in managing account receivables and payables processes as well as other month close related activities and financial reporting. Sujan Shah is master’s in business administration (MBA) and Commerce Graduate with 12 + year of experience working in several domains of Finance & Accounts.

Shiv has over six years of experience in business valuations and financial modelling. Karanj is a valuation professional with nearly seven years of experience, primarily focused on the financial services and healthcare sectors. She provided financial modeling and valuation services to investment banking clients.