Outsourcing accounting involves offloading the accounting activities to an external company. The tasks that are normally involved in this service are bookkeeping, accounts payable/receivable, payroll, and financial reporting. It assists organizations to increase their efficiency, cut costs and to be compliant with the regulations. Outsourcing is particularly useful to small businesses as it exposes them to professional knowledge without the need of having a full-time accountant. Outsourcing partners are equipped with the latest accounting software that enables businesses have real financial capabilities, as resources are also free to be utilized to help businesses on core business processes.

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