Call us:  +63 2 957 7488
contact@bureauserv.com
  • Local Sites
    • Australia
    • Singapore
    • United Kingdom
Bureauserv LimitedBureauserv LimitedBureauserv LimitedBureauserv Limited
  • Home
  • Services
    • Customer Service and Sales
    • Digital Marketing Services
      • Web Design and Development
      • What is (SEO) Search Engine Optimisation?
    • Accounting, Bookkeeping and Payroll
    • Virtual Assistant
  • About Us
  • Careers
  • Blog
  • Contact Us

The A to Z of Outsource Accounting

    Home Blog Accounting The A to Z of Outsource Accounting
    outsource accounting

    The A to Z of Outsource Accounting

    Accounting, Blog, Outsource accounting, Outsource bookkeeping

    A

    Accounting is an important element in any business since it’s the one responsible for checking and collating data to be used to assess the performance of a company and whatever plan the board decides to make.

    C

    Cloud Accounting is a method used in accounting that does not require individual software installation to have access to files. Since files are stored in a remote server, only those who have permission to use it can access the files, therefore, making it a secure way of doing accounting.

    E

    There is a danger of falling into error and unbalanced books if you assign accounting or bookkeeping tasks to non-accountants because this kind of work requires specialised knowledge and training regarding the tasks at hand.

    G

    GAAP or Generally Accepted Accounting Principles is a set of guidelines that states the standards and rules which accountants should follow especially when producing financial reports. At Bureauserv, we follow these accounting principles to deliver fair, honest and competent results in our proceedings.

    I

    An Inventory is made by accountants to make sure that all expenses are accounted for especially when preparing financial reports. An Inventory includes a list of all costs acquired to get the raw materials, processing it and preparing it for sale.

    K

    Check Kiting is a form of fraud committed when non-existing funds are allocated for unauthorised use. To avoid this, make sure that there is financial transparency in your business process and financial reports.

    M

    MYOB is a cloud-accounting software used for basic accounting practices for small and medium-sized enterprises. MYOB was first introduced in the 1980s, and it continues to be used for accounting practices primarily due to their on-going improvements when they entered cloud accounting to their service in 2014.

    O

    Outsource Accounting is one of the many tasks fields that outsourcing companies focus on because having an outsourced personnel lower the costs of doing business and optimise profit. At Bureauserv, our outsource accounting services include Data Processing, Payroll Processing, Management Accounting and Debtor Management.

    Q

    Quickbooks is a cloud-accounting software perfect for small and medium enterprises because of its ease when using accounting applications that accept payment, manages bills and payrolls and more. At Bureauserv, our qualified accountants use Quickbooks along with MYOB and XERO to perform accounting tasks for our foreign clients.

    S

    To adequately account for the company’s financial statements, a Separation of Duties is necessary for those who handle the accounts of the business. For example, a person that does the books of the company should be different from the one that controls the payroll to prevent room for theft or other errors.

    U

    The process of accounting contains underlying rules and principles that set the standards that serve as guidelines for accountants all over the world. The underlying rules and principles of accounting must always be followed to ensure the correct value that reflects a company’s financial statements.

    W

    Accountants can prepare a Write-Up Work for clients who want to see an initial presentation of the company’s financial statements. A write-up work is based on reports solely from client information and without review or audit of these amounts.

    Y

    A Year-to-date Net Income is the company’s net income which starts from the current accounting year until a specified date. Calculating this kind of income is necessary if clients want to know the breakdown of a company’s net income from specific times outside of monthly or annual financial reports.

    B

    Bookkeeping is another task that most companies outsource aside from accounting. Outsource bookkeeping keeps records of a company’s transaction with accounts contained in the general ledger.

    D

    Debt Collection is a problem that companies experience because of bad returns heightened by incompetent accounting practices. To prevent this, make sure to have a good accountant that can balance your books so that you can better strategise for the sale of your products and services.

    F

    Financial Reports or Financial Statements are made monthly or every quarter and annually to assess the performance of a company. Preparing financial reports is necessary since these are the ones companies look into when they plan and strategise for the upcoming quarter or year.

    H

    Horizontal Analysis is a method used to calculate financial statements and see on-going trends starting from the base year. This kind of approach is essential for it provides another perspective in analysing the economic state of a company especially if you are looking for growth.

    J

    Accountants keep Journal Entries to document records of their accounting procedures especially when doing debit or crediting works. The journal entry must include the date, the account name and the amount debited or credited among others.

    L

    Linear Programming is a mathematical tool used to calculate and optimise profits given contribution margins, based on limited amount of inputs and other constraints.

    N

    A Natural Business Year accounts for the 12 consecutive months that businesses progress ending on a month which they have a low point of activity. Apart from a natural business year, companies also undergo a fiscal year which they use to make economic reports for the previous natural business year as well as prepare new ones for the next natural business years.

    P

    Along with Accounting and Bookkeeping, Payroll is another fiscal task outsourced by most companies to ensure the equal and honest division of payment for all employees in an organisation. At Bureauserv, we offer payroll processing for all SMEs.

    R

    Make sure that the accountant or the accounting firm that you outsource your business to is reliable. Reliability along with honesty are key characteristics an accountant must have to perform correct accounting tasks since they are the ones responsible for a company’s financial statements.

    T

    The Transaction Approach is a method used to determine net income by summarising and reporting a company’s transaction to see the different statements. At Bureauserv, we use this approach as one of the many ways we do accounting to ensure that what we come up with our accounting procedures are correct.

    V

    Value Billing is a way to do outsource accounting which bills clients based on the value or type of accounting procedure done by the company as opposed to the other way of conducting outsource accounting which is to charge clients based on the time spent doing the company’s accounting procedures.

    X

    Xero is a cloud-accounting software used for small and medium-sized enterprises for accounting, bookkeeping and other tasks. This software features easy invoicing, inventory, attaching files to data, paying bills, claiming expenses, purchasing orders and more.

    Z

    Zero-Based Budgeting (ZBB) is a concept that sets a different a budget to plan for the new year. Rather than having last year’s budget as the basis for next year’s budget, ZBB, allows companies to start budgeting based from scratch and then justifying the set amount based on planned activities for the year.

    The A to Z Series

    Outsource now to Bureauserv!

    Outsource your Accounting, Bookkeeping and Payroll Services to Bureauserv Global Inc. especially since we have licensed accountants who know how to work the necessary tools and can, therefore, take care of your books. Our accounting services include Debtor Management, Data Processing, Management Accounting, and Payroll Processing. Apart from Accounting, Bureauserv also offers services for Digital Marketing, Customer Service and Sales and Virtual Assistant. For more details, call us at +61 8 6500 9777 or email us on contact@bureauserv.com to discuss your options.

    No tags.

    Related Post

    • business process outsourcing

      Benefits of Business Process Outsourcing

      Business process outsourcing has become a widely accepted global strategy implemented by today’s businesses. Technological advancement and online solutions such as cloud computing and business process as a service (BPaaS) contributed to this shift. IndustryExplore Now

    • responsive website

      Importance of a Responsive Website

      Every digital marketing campaign starts with a website. A website is essential in helping businesses and organisations present the company and improve their web presence. The astronomical increase in the number of people using mobileExplore Now

    • social media

      How to Kick-start Social Media Marketing for Your Business

      Social media marketing is undoubtedly one of the most popular promotion strategies for today’s businesses. In a survey conducted by Forbes, 78% of the respondents said that social media posts of companies influence their buyingExplore Now

    • Cloud Accounting – A New Breed of Service

      With the rapid growth of the Software-as-a-Service (SaaS) business model, more and more applications and derivations of the concept are developing to make them available for business owners. One of the most promising new technologiesExplore Now

    • How to Establish and Increase Web Presence

      Consumers’ growing reliance on the internet has revolutionised the way companies do business. Today, most people do online research of the product or service, compare options and customer reviews before making major purchases. Online shoppingExplore Now

    • Going Mobile-Friendly Matters

      Smart Insights statistics show that mobile overtook fixed internet access in 2014, and continues to increase. This can be attributed to the very many smartphones and mobile gadgets that are now available at a veryExplore Now

    • 10 Reasons to Outsource to the Philippines

      Today, BPOs are continuously growing in number around the world. So, businessmen’s success on this trade basically depends on the location of their businesses. One of the most popular outsourcing destinations for years is Philippines.Explore Now

    • Tasks Small Businesses Should Outsource

      In the book the E-Myth, Michael Gerber highlighted one of the challenges that small business owners encounter: balancing growth while trying to do everything alone. Many entrepreneurs have great skills and talents, but as theExplore Now

    Our Services

    Inbound customer service; outbound telemarketing and sales support, email marketing, lead generation, CRM, and e-commerce
    Web design and development; SEO and Social Media Marketing
    Accounting and bookkeeping; payroll and data processing Virtual Assistant

    Recent Posts

    • outsource digital marketing

      The A to Z of Digital Marketing

      A Adwords is a form of  PPC or Pay-Per-Click paid advertisement that

    • outsource customer support

      The A to Z of Outsource Customer Support

      A An Agent is a vital part of outsourcing customer support since

    • outsource accounting

      The A to Z of Outsource Accounting

      A Accounting is an important element in any business since it’s the

    • all about outsourcing

      The A to Z of OUTSOURCING

      A Accounting is usually one of the first departments small business outsource

    About Us

    Bureauserv Limited specialises in providing innovative and cost-effective business outsourcing solutions with advanced computer telephony applications. We are committed to assisting businesses achieve their desired growth by developing services tailored to their specific needs.   Explore Now..

    Our Services

    Inbound Customer Service; Outbound Telemarketing and Sales Support
    Digital Marketing, SEO, Web Design
    Accounting and Bookkeeping; Payroll and Data Processing
    Virtual Assistant and Admin Support

    Newsletter

    • This field is for validation purposes and should be left unchanged.

    Links

    Home | Services | About Us | Careers | Blog | Terms of Use | Privacy Policy

    Recent Posts

    • outsource digital marketing
      Comments Off on The A to Z of Digital Marketing

      The A to Z of Digital Marketing

    • outsource customer support
      Comments Off on The A to Z of Outsource Customer Support

      The A to Z of Outsource Customer Support

    Copyright 2021 Bureauserv Limited. | All Rights Reserved
    • Home
    • Services
      • Customer Service and Sales
      • Digital Marketing Services
        • Web Design and Development
        • What is (SEO) Search Engine Optimisation?
      • Accounting, Bookkeeping and Payroll
      • Virtual Assistant
    • About Us
    • Careers
    • Blog
    • Contact Us
    Bureauserv Limited
    Enhance customer service and sales
    • This field is for validation purposes and should be left unchanged.
    Enhance customer service and sales