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Why Should US Businesses Outsource Bookkeeping Services To India?

The importance of accounting and bookkeeping are important for managers of all levels in an organization, from the first line or operational managers to CXOs. Well-maintained books of accounts help in keeping a track of how the business is placed financially, and also helps identify opportunities to improve economic efficiency of operations. That being said, it may not always be viable for every business, particularly the small and mid-sized ones, to have a full-fledged accounting department on their payroll. This is where a lot of American firms can consider outsourcing their accounting and bookkeeping services in India for various reasons.

Quick Turnaround Time

Between the East and West Coast of the US, there is a time difference of 8-12 hours. Thus, when there is start of day shift on the East Coast (New York, Washington DC, Chicago, Boston, Cincinnati), it is late afternoon in India, so any work that is sent by companies in such cities would be completed by mid-day. For companies on the West Coast (Los Angeles, Seattle, San Fransisco, Los Angeles), any work that is submitted on a particular day can be processed early morning in India and submitted back towards the end of the same day in the US. Indians are known to work in shifts which are accommodative of their foreign clients, and so, the time difference would be no hurdle in ensuring best service quality.

Lower Costs

Hiring the services of an accountant in the US would cost a company anywhere up to US $40 per hour on average. However USA outsourced bookkeeping services in India would result in a major cost saving, as an Indian accountant typically charge between $15-$30 per hour (most likely on the lower side of that range).

Better Business Performance

Since you no longer have to maintain an in-house accounting department, you would be able to operate with a smaller and leaner workforce, thus cutting down significantly on wage costs. You also do not have to incur expenditure on licenses for accounting software. This can ensure lesser hassles for the management to bother with and help the business achieve higher profitability.

Bookkeeping And Accounting Services For USA In India That We Offer

Bookeeping Services

Under outsourced bookkeeping services, we provide:

  • Double entry bookkeeping
  • Generation and finalization of Trial Balance
  • Setting up of Accounts Charts
  • Year-end closing
  • Accounts Payable And Receivable

    It is vital for the company management to stay updated on its positionvis-à-vis accounts payable and receivable as it is important for ascertaining the company’s liquidity position and immediate financial liabilities. The following are services that we offer for the same:
  • Revenue Accounting and Recording
  • Client bill and statement maintenance
  • Customer receipt booking and updating
  • Invoice generation, processing, and multi-level validation
  • Supplier Network Management
  • Collection and Cash Flow management
  • Exception Resolution
  • Bank/ Credit Card Reconciliation

    Reconciliation of transactions conducted via bank accounts and credit cards is very important so as to stay updated regarding the cash position of the company. We provide the following reconciliation services to our clients:

  • Clearing of Outstanding Payments
  • Taxation processing and clearing
  • Matching of company’s books of accounts versus bank balances
  • Variance details recording
  • Reconciling accounts payable with accounts receivable
  • Verification of consistency of bank balances
  • Fixed Assets Accounting And Management

    Fixed assets represent a huge chunk on the balance sheet and their accurate accounting is important to determine depreciation costs and other expenses. We help businesses keep real-time reports of fixed assets as well as with creating analytical reports of expenses and overheads.

    Report Management

    Different levels of Managers need different types of accounting reports to facilitate their decision-making. The following are areas in which we can help in management reporting:

  • Monthly Accrual Posting generation
  • Month-End and Year-End tax compliance filing
  • P&L statement and Balance Sheet creation
  • Cash Flow statement generation
  • Creating financial projections for revenues, expenses, and profits
  • Why Bill Accounting Is The Best USA Accounting Outsourcing Company In India

    Skilled Resources

    At Bill Accounting, our outsourced bookkeeping team provides USA-based accounting services in India. Our team is a highly qualified group of experts that are familiar with necessary frameworks such as the US GAAP Requirements as issued by the Financial Accounting Standards Board (FASB). This ensures accurate and error-free bookkeeping and accounting.

    Technological Expertise

    We offer outsourced bookkeeping services in India. We have expertise with software such as QuickBooks and Zoho, which are popular in the US.

    Absolute Integrity

    Our confidentiality agreements are highly detailed and comprehensive, and we strive to ratify them to ensure complete protection of your intellectual property and business secrets

    Multi-Sector Expertise

    Our accounting team has experience in handling bookkeeping and accounting for clients across a wide range of industries. Thus, we can ensure that you face no litigation costs due to non-compliance.