Outsource

Gus1

Hi,

Just hearing a lot lately of accounting practices outsourcing bookkeeping/management accounts etc through to drafting of financial statements which are ready for review. This is all done by scanning the documents and sending them to outsourced providers at a significantly reduced cost.

Has anyone ever experienced this or looked into it and can you give advice/website to look at just to decide whether its something worth running with or not.

Cheers

Maybe give some stats? (number of employees, bank transactions per month etc)

I use outsourced accountants for everything from AR/AP to annual returns but that is more because it is for some far flung subsidiaries and I need local knowledge rather but don't want/need accountants on the payroll.

Gus1

Cheers Pg.

Not sure if we're talking about the same thing. I'm a self-employed accountant and the majority of my time is taken up with bookkeeping/management accounts for clients (it's something i have to provide but not my favourite part of job).

I have heard of accountant practices outsourcing this work to India (by scanning docs etc) and getting them back fully prepared, in good turnaround time, in great condition and ready for review at a fraction the cost of an employee. This would free my time up to work with clients in an advisory capacity (which i prefer and clients also appreciate).

Just wondering if anyone has any experience dealing with outsourcing to India like this.

Cheers
Gus

Shane732

Gus1 wrote: »

Cheers Pg.

Not sure if we're talking about the same thing. I'm a self-employed accountant and the majority of my time is taken up with bookkeeping/management accounts for clients (it's something i have to provide but not my favourite part of job).

I have heard of accountant practices outsourcing this work to India (by scanning docs etc) and getting them back fully prepared, in good turnaround time, in great condition and ready for review at a fraction the cost of an employee. This would free my time up to work with clients in an advisory capacity (which i prefer and clients also appreciate).

Just wondering if anyone has any experience dealing with outsourcing to India like this.

Cheers
Gus

While outsourcing to India is the way accountancy appears to be going I certainly don't think it's something that self-employed accountants will be getting involved with very soon.

The outsourcing is cost effective on a mass production basis not on a smaller basis.

As a self-employed accountant I'm afraid you'll probably spend the guts of your life time doing MA's and book-keeping. It's all turnover.

allaction22

Hi,

I left an accountancy practice last November to set up on my own doing exactly this sort of thing. Clients have halved their annual accountancy charges by using me to prepare accounts and tax return to review stage.

Contact me at pat@activeaccounting.ie for more details.