Saturday, June 13, 2009

Take Advantage of Outsource Bookkeeping

By Cathy Howard

To calculate the profits and losses of various organizations, bookkeeping outsourcing is required. This will help pinpoint financial problems. No wonder many companies turn to bookkeeping outsourcing.

Some of the primary functions of bookkeeping outsourcing services are the auditing, preparation and presentation of financial statements, bank reconciliation, ledgers preparation, accounts payables and receivables and finally data entry into the accounts.

The client's data is protected from misuse with the help of various security features and security tools.

To benefit most from bookkeeping outsourcing, use software like MYOB, Quicken, Peachtree, QuickBooks and Sage Line 50. These programs help users in accounting and bookkeeping functions, in the production of managed accounts on a quarterly basis, calculate VAT returns, enable submissions to various inland values, provide expert advice, minimize tax liability and the submission of accounts.

Other useful functions include VAT calculation, cash flow management, general ledger maintenance, sales ledger control, sales invoicing and credit control, trial balance, payroll administration and month-end closing.

Among the many advantages of bookkeeping outsourcing are competitive pricing, a unique approach, fast turnaround and customer service. There is also reduced cost, improved efficiency, more free resources and less capital costs. - 23802

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