Outsourced Accounting.pptx

1. Department of commerce ( UG)
Title Of the presentation : outsourced accounting
Name of students : Danish, Nitin kumar, Aditya Patra, Md Talha
Roll no: 23COMD36, 02, 39, 43
Voice of the student : Danish
Course : B.com ‘D’ 1st year
Batch: 2023-26

2. Outsourced Accounting
Meaning
Outsource accounting is a simple idea to understand. You hire a
third-party organization to manage your business’s affairs
instead of having an accounting team.
Businesses can outsource accounting services that want to
benefit from tasks including payroll, accounts receivable, and
financial reporting

3. Benefits to Outsource Accounting
Cost -effective
Expert accountants and bookkeepers
Save time
Business continuity
Scalability

4. Cost-effective
Outsourced bookkeeping is most appealing
since it saves organizations money. It does so in
various ways, including minimizing the cost of
hiring an in-house team and saving you time to
focus on the core business

5. Expert accountants and bookkeepers
You may be able to engage a professional with a higher
standard of expertise at a lower cost by outsourcing. To
be competitive in the market, outsourced service
providers must continually improve their abilities and
certifications.

6. Save time
Outsourced accounting experts can handle the
management of financial operations currently carried out
internally. Their knowledge takes the uncertainty out of
responsibilities like reconciliation, budgeting, payroll
processing, and debt management, allowing greater
peace of mind.

7. Business continuity
Disruption in accounting functions can harm the organisation as accounting is a time-sensitive
fundamental operation.
A firm can face delayed payments, loss of essential records, and penalties when the accounting is affected
due to factors like:
 Poor infrastructure
 System downtime
 Human capital shortages
Companies that have such interruptions in business continuity risk losing clients to a competitor

8. Scalability
When you outsource your accounting services, you can
easily scale up or down depending on the needs of your
business. As your business grows or experiences
fluctuations in demand, you can adjust your accounting
services accordingly without worrying about staffing
constraints.

9. THANK YOU