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Anyone outsource book keeping overseas?

by Stefan Pylarinos
6 replies
Just curious if anyone outsources book keeping to someone in Philippines or somewhere overseas inexpensively, and if so, how are you doing it? Do you simply give them access to your bank accounts monthly or just send them the documents from PayPal, Clickbank, your banks, etc...?

What systems do they use to track everything and share the information with you? Any softwares you're using with your book keeper?

Any advice would be useful for anyone that's doing this.
#book #keeping #outsource #overseas
  • Profile picture of the author lotsofsnow
    Outsourcing bookkeeping to someone in Philippines or somewhere overseas inexpensively sound scary. Very scary.
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  • Profile picture of the author John Jonas Phil VA
    Yes, there are people who outsource their bookkeeping, payroll, and accounting to places in the Philippines and it's not as scary. The software they would use would depend on your preference and your area. For most cases, the outsource accountants and bookkeepers I know use Xero, MYOB and Quicken. You can find professional bookkeepers, accountants and payroll officers at websites like bestjobs.ph, onlinejobs.ph and i think there are even a few at warriors for hire
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  • Profile picture of the author smodha
    No way Jose!

    It's a big risk. I would hire a professional in your country who knows the law of the land. When it comes to tax you don't want to mess around.
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  • Profile picture of the author MelanieandMiles
    We tried this with a couple service providers and it blew up in our faces both times... lol. Not to say it isn't possible, we just didn't dial in perfectly on our first tries.

    Most of the outsourcers will request that you use QuickBooks Online since it is cloud based.

    For several reasons, we have decided to keep this in house at this point and may consider hiring another bookkeeper soon, but if we do, we will most definitely find someone local.
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  • Profile picture of the author Alexa Smith
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    Originally Posted by Stefan Pylarinos View Post

    Anyone outsource book keeping overseas?
    My accountant does, but I don't.

    They offered to do all the routine bookkeeping for me, as an additional part of their service, and mentioned that it's inexpensive because it's all done in India these days (I'm in England), but I declined. Not because it's done in India, of course, but because I believe it's important to do your own bookkeeping yourself. I wouldn't want to run and be responsible for a business in which I didn't do the bookkeeping myself. It takes me less than 10 minutes per day, and in exchange for that time-commitment, I feel that I know and am in control of everything that's going on.
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  • Profile picture of the author Stefan Pylarinos
    Thanks, great advice. I personally do my own book keeping right now, but I'd need to learn more about it so I can improve my processes, perhaps using some of the softwares recommended. I don't mind it as much, as it helps me keep track of the finances and whatnot - so I like Alexa's advice there.

    I'll most likely talk to one of these companies and see what they say as well, just want to see what options are available and what others are doing.
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