Answer: In today’s highly complex business environment, bookkeeping and accounting is much more than mere number crunching, accountants today need to ensure: –
- Books are up-to-date and accurate
- Costs are controlled and kept in check
- MIS reporting is meaningful and adequate
- Compliance under various laws are taken care of properly
- Working capital is managed properly and cash flows are properly projected.
All this cannot be properly handled by a single generalist accountant. Outsourcing the bookkeeping & Accounting function makes it possible to have a team of highly qualified and experienced Chartered Accountants and other accounting professionals to be involved in the bookkeeping and accounting process resulting in a professionally managed and reliable Accounting Department for the business.
All this close to the cost of a single generalist accountant.