Types of Services Offered by Accounting Outsourcing Firms

1
(No Transcript)
2
Types of Services you can Outsource to Accounting
Outsourcing Service Provider

• Efficiency, Scalability, Low Investment
  Expansion, Cost-Effective, Growing Business
  Strategically, Virtual Team all these terms
  have one similar identity and are all related to
  Outsourcing. Almost every company operating in
  the United States has outsourced a considerable
  amount of their operations to other nations, such
  as India, the Philippines, and the UAE, to enjoy
  low labor costs and outstanding expertise.
• Accounting and Bookkeeping are the backbone of
  any business as they record every financial
  transaction and business event and keep them
  organized to analyze and evaluate firm
  performance.

3

• Accounting is the foundation of preparing
  financial statements and tax filing return forms
  and reports. It keeps track of every
  organizational departments expenditures,
  revenues, assets, liabilities, and investments.
  It also maintains and builds long-term business
  relations with customers, suppliers, and vendors.
• Accounting is the in-depth concept around which
  the entire company revolves. It is like a father
  to a son who oversees his sons activities, keeps
  track of expenses, and helps make strategic
  decisions. In this blog, we will walk you through
  the types of services you can outsource to your
  Accounting Outsourcing Company.

4
Additional Services Offered by Accounting
Outsourcing Firms

• Bookkeeping and Comprehensive Account Management
• Accounting Outsourcing Service Providers handle
  comprehensive bookkeeping and account management
  work, from classifying and recording transactions
  to analyzing them to prepare balance sheet
  financial statements and evaluate your business
  performance.
• You will get timely reports from weekly to
  bi-weekly and monthly to assess the progress of
  the implemented strategies and fine-tune
  processes and methods to achieve short-term goals
  and objectives.

5

• Outsourcing bookkeeping and comprehensive
  accounting responsibilities will free your
  internal teams, and they can work on lucrative
  activities. Also, you dont have to hire seasoned
  accountants and bookkeepers.
• You can outsource the work in any season and stay
  worry-free as they will deliver you assigned
  tasks within the committed timeframe of premier
  quality and 100 accuracy. It helps you build
  your strong reputation and provide your clients
  with error-free work.

6

• Financial Reporting
• Outsourcing Accounting Providers also offer
  Financial Outsourcing Services that includes
  analysis of accounting books, general ledger, and
  balance sheet to prepare financial reports and
  statements, facilitating tax filing returns
  preparation.
• They also evaluate financial ratios, make audit
  reports, perform portfolio analysis, forecast
  budget, fixed asset management, bank statement
  reconciliation, and more. You will get
  comprehensive support and relief from financial
  management responsibilities.
• All the reports are prepared in compliance with
  federal and state laws and regulations. You will
  get highly accurate weekly, bi-weekly, and
  monthly reports according to your clients
  request.

7

• Tax Preparation Services
• Apart from Accounting, Bookkeeping, and Financial
  Outsourcing Services, you will also get
  comprehensive support for Tax Preparation
  Services, including tax filing returns statements
  forms, eliminating unnecessary transactions, and
  formulating a well-documented report to determine
  a net payable amount.
• They pay meticulous attention to every
  transaction and scrutinize the entire statements
  for 100 accuracy before you submit them to tax
  authorities. At Prime Business Solutions, we
  provide Tax Preparation Outsourcing Services.
• As a highly professional Outsourcing company, we
  adopt the industrys best practices, and all the
  reports comply with financial and state tax laws
  and regulations. We implement all credits,
  deductions, and exemptions to help our clients
  get maximum tax benefits and help them
  strategically plan for the upcoming tax year.

8

• Audit Support
• Auditing is the chief aspect of every Tax,
  Accounting, and CPA firm as it helps to detect
  errors in accounting books by thoroughly
  assessing them to ensure they are 100 error-free
  and present financial statements accurately in
  compliance with GAAP.
• It helps businesses evaluate the progress of
  their implemented financial strategy, accordingly
  take decisions, and outline a roadmap for the
  next financial year. Financial Audit is indeed an
  arduous and time-consuming complex task.
• It is wiser to outsource rather than keep it
  in-house and spend substantial investment in
  highly experienced human resources and time
  preparing auditing reports.

9

• At Prime Business Solutions, we have veteran
  financial experts who proficiently handle
  multiple projects and auditing work of tax,
  accounting, and CPA firms. They employ their
  expertise and knowledge to deliver 100 precise
  audit reports and save you considerable time,
  which you can divert to primary business
  activities.
• By leveraging our experience and resources, you
  will give your clients audit reports of the
  highest quality, integrity, and conformity.

10

• Payroll Processing
• Accounting Services Outsourcing Companies have a
  dedicated workforce of Payroll Administrations
  who handle Payroll Management activities. It
  means that apart from accounting, bookkeeping,
  financial services, tax preparation, and audit,
  you will get needed support for Payroll
  Management and broaden your expertise and service
  offering basket.
• You can achieve scalability by leveraging
  resources, technology, and infrastructure to get
  Payroll managed by highly skilled Payroll
  Specialists. They will assist you with regularly
  recording employees information, leaves,
  absenteeism, and bonuses.
• They maintain them systematically so you can
  access them at your convenience for assessment.
  They also compute net salary by considering all
  aspects, including payroll taxes, leaves,
  remuneration, and allowances.

11

• Once you have reviewed and approved the payroll
  reports of employees, they will disburse salaries
  on your behalf through your companys bank
  account from their end to save you time.
• It means you dont have to recruit human
  resources personnel for Payroll Management. You
  can hire Payroll Experts from Business Processes
  Outsourcing Companies like Prime Business
  Solutions and focus on other business areas.
• At Prime Business Solutions, we provide
  comprehensive Payroll Management Outsourcing
  Services performed by our Payroll Administrators
  and Processors team. They professionally handle
  every client of tax, accounting, and CPA firms in
  the United States. We provide weekly, bi-weekly,
  and monthly reports on your request.
• We even process employees payroll on your
  behalf. We send an email confirmation after
  sending payroll reports, tax statements, and
  salary payment confirmations for transparent
  communication.

12

• Business Advisory Services
• Accounting Outsourcing Services Companies also
  provide extensive support to the clients of tax,
  accounting, and CPA firms through comprehensive
  business advisory services. They comprehend your
  accounting and financial statements and
  strategies to formulate a lucrative plan to help
  you attain short-term goals and objectives.
• At Prime Business Solutions, our Business
  Advisory Consultants have helped several clients
  with well-grounded strategies and advisory
  services.
• As a highly reliable Business Advisory Services
  Outsourcing Company, we specialize in key
  business areas, such as financial planning,
  business valuation, treasury management, mergers
  and acquisitions, and more.
• It helps our clients operating tax, accounting,
  and CPA firms in the USA widen their service
  offerings, provide their clients tailored
  business advisory services, and build long-term
  clientele relations.

13

• Regulatory Compliance
• Navigating regulatory compliance is complex as
  CPA, tax, and accounting firms face constant
  challenges. Outsourcing accounting firms have
  expertise in providing adroit support in helping
  you navigate intricate regulatory compliance of
  federal and state government.
• They assist you in overcoming challenges by
  ensuring all the accounting, financial, tax,
  audit, and payroll reports, statements, and
  documents shared are 100 compliant, from SEC
  filings to federal and state government
  requirements.
• At Prime Business Solutions, we have a dedicated
  team that manages and oversees whether all
  regulatory obligations of our clients are met or
  not. They are well-versed with federal and state
  government compliance regulations, policies, and
  laws to serve our clients with supreme regulatory
  compliance services and decode the challenges and
  hurdles faced.

14

• Conclusion
• After reading the blog, you will have fully
  comprehended the different services offered by
  outsourced accounting companies to ensure
  businesses get numerous services at a one-stop
  destination. Also, you would have been acquainted
  with the benefits of each service.
• At Prime Business Solutions, we provide all the
  services mentioned in the blog Accounting,
  Bookkeeping, Tax Preparation, Payroll Management,
  Financial Services Management, Business Advisory
  Services, Regulatory Compliance, Audit Services
  for CPA and accounting firms, invoice processing,
  Accounts Payables, and Accounts Receivables.
• We have a dedicated team to perform all the tasks
  in each service basket we offer. It helps ensure
  the timely delivery of assigned tasks, as they
  are carried out by experts specializing in their
  respective roles. We provide economical pricing
  and hourly rates for our services. You can opt
  for our free one-day trial to get a brief about
  our working style and the accuracy of the output.

15

• We aim to help you achieve scalability and widen
  your expertise in the local market with our
  services. You will save massive costs on
  infrastructure, hiring a seasoned workforce,
  technology, tools, and software. You will
  overcome the difficulties of recruiting a
  reliable staffing shortage. We will deliver you
  all seasonal work on time to build a solid
  reputation.
• Partner with us as your Business Process
  Outsourcing Provider by requesting a free
  consultation and quotation.

16
(No Transcript)