![]() The work is performed in the Philippines, but they also have offices in the US and just recently in Canada. In fact, you often see them at conferences like Xerocon and QuickBooks Connect.Īs their website states, they have almost 1,600 people on their dedicated team, deal with over 500 accounting firms, and have 9 different offices. TOA Global is one of the leaders in the accounting “outsourcing” (in quotes, because technically they offshore) world and they are quite popular with a lot of virtual firms. Options for Outsourced Bookkeeping for CPAs TOA Global ![]() ![]() Those that do not want to deal with linguistic and cultural difficulties, as well as foreign policies, frequently use freelancers or outsourced teams from inside their own country. Onshoring is the process of reassigning an accounting department duty to another city or area within the same country. Here, bookkeeping functions are transferred to an organization and they divvy up the work the way they want to internally. Outsourcing doesn’t necessarily need to take place in another country. You place your trust in this organization to manage the accounting data in the way in which they deem appropriate, with the task being accomplished by those whom they consider fit to do so. This is when you engage the services of a third-party organization to manage the financial data for you. Instead of hiring a bookkeeper in Canada or the US, you might instead offshore the entire accounting department to the Philippines. When you offshore, you are hiring someone else in another country and they become your “employee”. ![]() What makes offshoring unique is that you essentially maintain full control over the financial data processing, which might be interesting if you’re providing client accounting services. Here you are moving business processes and your in house accounting team to another country, typically one with a lower labor cost structure. In this article, I’ll run through some of the more modern options that might make the most sense for your firm at the moment.Ĭheck it out: Outsourced Bookkeeping for CPAs Terminologyīefore continuing, there are 3 terms that I want to briefly define which will have an impact on the option you select. If you’re a CPA firm looking to outsource your bookkeeping, you’ll want to check out this post on the 7 different options for outsourced bookkeeping for CPAs. ![]()
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