Outsourced accounting allows companies to remove paper-based processes and manual labor from their accounting functions by transmitting financial documents and data to a secure cloud server. An outsourced accounting firm then performs all accounting tasks such as paying bills, processing payroll, invoicing customers and reconciling bank statements completely electronically through integration with the client's accounting software. This cloud-based approach provides access to financial reports 24/7 in a paperless and secure environment without the need for in-house accounting staff.