Outsourced Bookkeeping: Setting Global Standards in Accounting & Bookkeeping Standards

Sunil Khullar, Founder and Managing Director

Remote work culture has slowly made its way to the mainstream. This has considerably driven companies to rethink their business processes, particularly, the operational critical ones like accounting & bookkeeping. More and more businesses are looking for remote solutions for their accounting and bookkeeping needs. With a humble beginning in 2004, Outsourced Booking has grown from freelancing projects in India to being a trusted partner of some of United States' biggest restaurant chains, property management companies and many small and medium businesses.

2020 marked the turning point in Outsourced Bookkkeeping's market journey. Even the traditional businesses sought Outsourced Bookkeeping expertise. Outsourced Bookkeeping has provided the support to all its existing clients in the lockdown. It has increased the faith of US clients in Outsourced Bookkeeping. "We performed, even when the employees of US Businesses were not able to attend their offices. We ensured continuity of the businesses of our clients. New experiences were gained by our clients and Outsourced Bookkeeping as well in terms of ensuring business continuity in adverse circumstances", says Sunil Khullar, Managing Director, Outsourced Bookkeeping.

A Plethora of Services that Ensure Productivity

Outsourced Bookkeeping provides a 360-degree solution to its client’s accounting and bookkeeping requirements. From Accounting to Taxes to IT Set up or Payroll, Managerial advice, the firm acts as an extension to its own workplace helping clients prosper and grow. Outsourced Bookkeeping has one of the finest accountants specializing in both regular and AI enabled Accounts Payable Processing for big Restaurant Chains and Property Management Corporations. The firm's well qualified and experienced team of accountants handle Property Management corporations with more than thousands of properties every day, from Payables Processing, to Receivables Management to document processing.

Outsourced Bookkeeping provides a 360-degree solution to its client’s accounting and bookkeeping requirements

This bestows the clients with skilled manpower on an incredibly simple, scalable and transparent basis for their unique and complex requirements and saving them crucial overheads while providing them the best resources to handle their work. Outsourced Bookkeeping has catered to clients in USA from all walks of life in the last 17 years. Over the years, the firm has gained significant experience working with almost every software there was, is or will be relevant in the future. To name a few, Outsourced Bookkeeping's specialization entails to NetSuite ERP, SAP, QuickBooks Online, QuickBooks Desktop, Xero, R365, Bill.com, Propertyware, EasyAcct, Accounting Relief, Sage in the United States and Caseware, Quickbooks, Zoho for Canada.

Outsourced Bookkeeping's skilled tax preparers specialize in programs spanning Intuit Proseries, Proconnect, ATX Tax, Drakes etc. with a huge emphasis on abiding by every single law of the States ensuring data security, processing returns on US based servers and ensuring proper disposal of all personal information shared by the client.

More importantly, given the time difference between India and all the time zones of US typically being more than 10 hours, Outsourced Bookkeeping's overnight bookkeeping services suit the USA clients very well. "The task sent by the client in USA at end of their day, is picked up by us in our morning. It is completed and kept ready with status report in their inbox by 9.00 AM EST. That way USA business work 24 hours a day, adding to their efficacy and turnaround time", explains Sunil.

Setting Benchmarks & Growing Clientele

Outsourced Bookkeeping's most sought after USP is its accounts set up and transition services. The firm is exercises great expertise in helping clients with older accounting ways and software to transition to better cloud based and AI enabled software.
Outsourced Bookkeeping offers expert level guidance and recommendations on every aspect of their accounting process, right from constructing a better & inclusive chart of accounts to choosing the best accounting program for them as per their individual needs while providing real time insights into the best practices.

In 2020, a restaurant chain in Georgia (USA), was facing trouble with its Accounting and Managerial Reporting. The restaurant's traditional accountants were not able to keep up with their requirements, reporting was heavily delayed, stock counts were not well managed, ascertaining cost of end products on a real time basis was next to impossible. Added to this, three new restaurants were being established and the need for providing regular results to the investors was appearing to be a far cry. The owner of the restaurant, a young entrepreneur approached Outsourced Bookkeeping with a resolve to make major improvements. Outsourced Bookkeeping took a series of steps to resolve the same starting with moving their computer based accounting platform to a cloud based platform which specially caters to restaurants. During the transition, Outsourced Bookkeeping team sat with their team and refined their chart of accounts, inventory classes, and banking mechanism point by point. As a result, today, five restaurants are being effectively managed with proper reporting as per the US Restaurant Association Norms.

Future in India

Having gained significant experience into the ways and means of American, Canadian, UK and Australia’s markets Outsourced Bookkeeping is now looking forward to the massive potential that India holds in itself. "Our business consultancy services coupled with the best practices in Accounting from around the world are providing India Inc. a big relief from its traditional stressors, aligning them with the world and enabling them to explore, grow and nurture their offerings to the world. Outsourced Bookkeeping plans to tap the sentiment and look for growth opportunities in coming years", concludes Sunil.