Outsourcing Accounting Key things

 

What all things are created equal and this is so true in the Outsourcing Market. If you want to Outsource your standard Australian accounting tax and super fund work. You have to be very careful of providing news after all this is your core staple work you’re giving to someone else to do. Let’s look at the 7 things. You need to know about Outsourcing accounting work offshore.

 

  • Supervision and training: The tax practitioners board States providing adequate supervisory arrangements is critical in the offshoring tech service business model, the TPB is also Keen to see internal procedures used to satisfy supervisory and control requirements which may include activities such as training for offshore staff in Australian tax registered agents on-site overseas rotation for overseas staff to gain experience and solid quality assurance systems. The managing director in our Indian office is a member of both The Institute of Chartered Accountants in Australia is a member of the IPA has a certificate of public practice and is an Australian registered tax agent. Our training is systematic and ongoing ensuring staff are trained up as well as any Australian counterpart.

 

  •  Credentials:  If you want the work done to a good Australian standard check the credentials of the offshore and Australian side operation are the accountants doing the work qualified CA or CPA who are the directors and what credentials do they have that demonstrate? They can run an effective operation and deal with Australian tax law competently BOSS is a practice entity member of The Institute of Chartered Accountants in Australia and has staffs that have passed the Australian corporation’s law and Taxation exams.

 

  •  Professional Indemnity insurance: Contact your insurer and see how they feel about Outsourcing accounting work offshore. No doubt they will want to Pass the buck and may well not cover you for hiccup occurs. So make sure your provider has professional Indemnity insurance that covers their operation and the or contract is with an Australian legal entity with professional Indemnity insurance cover for the whole operation BOSS has Indemnity cover and the engagement contractors with our Australian office.

 

  •  Security and confidentiality:  What steps does your Outsourcing provider take to keep your data secure who has access to your client’s data. What options are there? If you don’t want the Outsourcing provider to have any data kept locally, make sure the thing you use does absolutely everything it can to ensure your data is safe.

 

  •  Communication: With 10 years of experience in Outsourcing we know One of the key factors that impact the success of using an accounting Outsourcing firm is the communication that takes place when the pressure is on you want things to be done with the minimum fuss for efficiency and Effectiveness once a job is passed in the provider the accountant in the Outsourcing firm should be in direct contact with your accountant. This should be by email phone and instant messaging using a service like Skype you need to be able to communicate as easily with the outsourced account as you do with one of your colleagues.
  •  Control and monitoring: What happens to a job that you pass over to the offshore firm, how do you keep track of it? What can we do to expedite jobs? If you need urgent work done, you shouldn’t feel like you’re losing control when you hand over a job. They should be assistant and monitor jobs and performance effectively if an Outsourcing provider works on your network and you have a workflow system in timesheets, then ideally they should use that system if this system isn’t available then your Outsourcing firms should have a standard Whip or workflow system that visible anytime and provide timesheet so you can monitor control and manage jobs just like you do already in-house at BOSS If we don’t use your workflow system will provide you with access to our cloud-based workflow system to help you manage jobs and monitor our performance.

 

  • Collaboration: To get the most out of an Outsourcing Arrangement. You need to collaborate closely collaboration is where your outsourced accounting teamwork as if they are working in-house that is they use your procedures in your working papers. So they work just like your current staff this means it’s easy for you to review work and be comfortable everything is being done exactly how you want it done very few Outsourcing firms can truly offer this collaborative approach and even fewer can offer the option of adding a casual accountant to help out for those busy times of year naturally BOSS offers all these options.

 

 

 

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