Offshore Accounting Services
Offshore accounting services are a game-changer for businesses aiming to optimize their financial management. Delegating accounting tasks to offshore experts translates into substantial cost savings, enhanced productivity, and access to a talent pool of skilled accountants.
Outsourcing accounting functions to offshore service providers significantly trims operational costs. Offshore hubs with lower labor expenses offer cost-efficient solutions, freeing up resources for core business activities and improving overall performance.
By harnessing offshore accounting services, businesses sidestep the need for in-house accounting teams, saving costs while gaining dedicated offshore professionals’ expertise. These virtual accountants adeptly manage all accounting facets, from financial statements to tax preparation and cash flow management.
Offshore Staffing for Accounting Firms and CPAs
ASSOCIATE BOOKKEEPER
Our Associate bookkeeper is dedicated to providing you with the accuracy to detail in documenting all of your daily bookkeeping tasks are performed by associate bookkeepers. Our accountants take care of managing petty cash expenditures, bookkeeping of everyday dealings, Purchases, Sales, Journal Voucher entries, bank reconciliation and many more.
Key Skills
- Experience level 1-2 years
- 2 Months of Training on US Accounting
- Bachelor's Degree (Accounting) or CA-Inter (Semi Qualified Chartered Accountant – India)
- Recording/Review of Bank Feed and daily transactions
- Bank and Credit Reconciliation
- QuickBooks or Xero Experience
- Basic Microsoft Excel Literacy
- Computer Literacy - Moderate to Good
ASSOCIATE PAYROLL ACCOUNTANT
The intricate task of payroll management is critical to ensure accurate and thorough pay data, verified to the utmost reliability. So, it is paramount to have an accomplished offshoring accounting staff Associate Payroll Accountant on hand to prepare detailed reports of employee earnings, taxes, deductions, vacation, and disability.
Virtueshore Global is dedicated to providing the best pay-related information handling, from individualized services to full-fledged departments dedicated to meet your requirements.
Key Skills
- Experience level 1-2 years
- 2 Months of Training on US Accounting
- Process client payroll and produce checks, vouchers
- Input all payroll-related data to meet payroll processing deadlines
- Process payroll garnishments, vacation time, insurance, 401(k) and other deductions
- Prepare and Submit Report Regularly
- Prepare single and multi-state quarterly and annual payroll tax reconciliations
- Prepare payroll compliance returns 940 - 941
- Filing payroll client information
- Maintenance of payroll software as assigned
- Maintaining detailed daily time records of work performed
- Proficient in Microsoft Excel,MS Office.
SENIOR ASSOCIATE AR/AP OFFSHORE ACCOUNTANT
Senior associate AR/AP work on strong analytical skills. These Senior Associates are responsible for taking up accounting tasks of the organization, including performing financial analysis, preparing monthly reports, assisting our internal accounting team with financial reporting tasks, and outsourced accounting service.
Key Skills
- Prepare and disburse invoices to customers.
- Analyze transaction information to identify refunds, delinquent accounts and insufficient payments.
- Resolve issues with delinquent accounts through contacting and working with the customer.
- Reconcile transactions with statements.
- Maintain accurate financial record of all receivable transactions, verifications, etc.
- Secure financial data via data backups and security monitoring.
- Coordination with Team Members / Vendors / Customers
- Reconciling Balance with Third Party Confirmation
- Follow Ups through Email as well as Call for Invoice Payment
- Minimum Bachelor’s Degree
- Offer creative budget, cash flow and other financial solutions as needed.
- Collaborate with the CFO, fellow clerks and other finance department members to maintain company financial health.
- Accounts Payable Management
- Processing the Payment and Managing Vendor Credit Period
- Accounts Receivable Management
- Processing the Receipt and Managing Debtors Credit Period
- Follow Ups through Email as well as Call for Collection of Bills
- Quickbooks, Bill.com and Excel
- Experience level 2-4 years
- Regular Interval Reporting of Aging Report
SENIOR ASSOCIATE ACCOUNTANT
The Senior Associate Accountants are responsible for provides financial accounting services to the organization, including preparation of internal control report, compilation of general ledger accounts, monthly close-out report and reconciliation of trial balances and maintaining records related to these activities, as a part of offshore accounting solutions.
Key Skills
- Balance sheet and financial statement reconciliations
- Month end journal entries and adjustments
- Month-end close and financial reporting
- Review and Preparation of Monthly Bank Reconciliation
- Month end financial statement for internal and external users
- Tax Return Adjustment
- Payroll / Sales Tax / Loan / Investment Account Reconciliation
- Administer Concur Time & Expense system
- Assist with business tax preparation, registrations, and compliance filings
- Minimum Bachelor’s Degree
- 3+ years of experience in Accounting
- Proficient with Microsoft Office Suite and accounting software
- MIS Reporting
- Cashflow Analysis and Reporting
- KPI Reporting and Analysis (Operational and Core Business KPI)
- Budgeting and Forecasting.
- Inter-company Reconciliation and Consolidated financial statements
Benefits of Offshore Accounting Services
Cost Savings
Outsourcing accounting functions reduces operational expenses, offering skilled workers at a fraction of in-house costs.
Local Compliance
Offshore firms are well-versed in local laws, ensuring adherence to financial and tax regulations, minimizing penalties and legal issues.
Expertise
Access to qualified professionals who contribute to financial strategy, providing valuable insights based on international standards and best practices.
Things to consider when choosing an Offshore Accounting Firm
Reputation and Track Record
Evaluate the firm's experience serving CPA firms and client satisfaction.
Qualified Accountants
Ensure the firm's team is knowledgeable in international accounting standards.
Service Quality
Prioritize accuracy, professionalism, and attention to detail in financial record review and statement delivery.
Cost-Effectiveness:
Compare pricing structures while maintaining a balance between cost savings and service quality.
Communication and Collaboration:
Confirm efficient workflows and effective communication channels for timely information exchange.
Data Security
Verify robust data protection measures and compliance with data privacy regulations.
Choosing the right offshore accounting partner involves careful assessment of reputation, service quality, cost-effectiveness, communication, and data security. This ensures CPA firms find a dependable partner to support their accounting needs.
How to find and choose the best offshore accounting firm
Assess Specific Needs
Identify which accounting tasks to outsource and choose a firm capable of providing those services effectively.
Industry Expertise
Prioritize firms experienced with CPA firms and knowledgeable about accounting industry needs.
Global Talent Pool
Look for a firm with access to a diverse and skilled international workforce.
When searching for the best offshore accounting firm, focus on industry expertise, tailored services, and access to a global talent pool. Careful consideration of these factors leads to a successful partnership for your CPA firm.
Why Virtueshore Global?
When it comes to offshore accounting services for US-based CPA firms, Virtueshore Global stands out as the best choice. The firm not only provides top-notch services but also offers a unique blend of cultural compatibility and geographical advantage.
Virtueshore Global offers an unparalleled suite of services, including bookkeeping, accounts payable and receivable, cash flow management, financial analysis, budgeting and forecasting, audit support, compliance and reporting, account reconciliation and advisory services. The firm’s team of experienced professionals is well-versed in international accounting standards while its global presence gives it access to a wide range of skilled personnel.
Virtueshore Global is also committed to providing the highest data security standards, with a robust framework for protecting confidential information. The firm offers unlimited communication options, including phone, email, Skype and chat. Clients can access project updates in real-time, ensuring visibility and transparency throughout the process.
Virtueshore Global stands out as an ideal partner for US -based CPA firms seeking offshore accounting services. Its suite of services, data security measures, communication options and experienced team make it the perfect choice for any firm looking to outsource its accounting needs.
Virtueshore Global