Think about outsourcing accounting work to India this tax season

Think about outsourcing accounting work to India this tax season

Posted by  on 15 January, 2019   4 minute read

The Internal Revenue Service (IRS) announced last week the tax season would commence from Monday, i.e., January 28, 2019. That’s two weeks from now, and we are sure accounting professionals are busy gearing up for the busy period.

Having said that:

  • Have you reminded your clients to share the necessary documentation for preparing taxes? If not, you may find this checklist useful.

  • Is your tax software up-to-date? If not, get it upgraded at the earliest.

  • Do you have an adequate number of accountants in your team to take on the load? If not, outsource.

Yes! Outsourcing accounting work to India is a favorable option for CPAs and accounting firms that want to avoid a busy period that is just too busy, chaotic and messy. Here are three reasons why outsourcing makes sense.

1) Boost business profitability by up to 50%

CPA firm owners often limit themselves by only offering traditional services like accounting, bookkeeping, and seasonal tax support. Guess what? That is not enough if you want to scale your business and take it to greater heights.

Accounting offshoring in India takes on all the time-consuming and low-margin jobs like bookkeeping and payroll. The arrangement makes time for you to add more revenue streams by including business advisory, forecasting, and budgeting in your services.

Additionally, you have more time to look after your clients and get feedback from them that can help you improve your services. Try outsourcing accounting work to India, and you’ll see the difference!

2) Get help even when your work is complicated

One of the benefits of accounting offshoring in India is that your outsourcing partner is well-trained to deal with various business requirements and to tackle different scenarios - no matter how complicated they may be.

They not only understand your requirements but also help you achieve a specialized reporting system along with more efficient workflows. By outsourcing accounting work to India, you can easily take on more clients because of smooth operational processes.

3) Create value for your clientele

Clients are time-wary and are looking to work with an accounting firm that can offer strategic and specialized operational support apart from the usual tax and accounting services. For them, it isn’t just about finding a temporary solution anymore, but about gaining business profitability faster.

The good news is in the last few years, a CPA’s role has evolved from just being a number cruncher to someone who cares about his clients. Delivering value, that is assumed to be outside their normal sphere of activity, to clients is slowly becoming a norm and how.

By outsourcing accounting work to India, you can be assured of the fact that the low-margin jobs are in good hands and you can take out time for your clients.

Benefits of outsourcing accounting work to India: in a nutshell

India has the best talent pool that offers great outsourcing services at affordable rates, and technology has made it easier for CPAs to collaborate with outsourcers in any part of the world to get the job done.

  • Accounting offshoring in India is best for those CPA firms that have a massive staff shortage.
  • The outsourcing partners in the country can meet weekend staffing requirements and reduce the long hours spent at work.
  • The turnaround time is faster despite the time difference.
  • You still have full control of the data and processes. The outsourced team merely gets the job done and makes time for you to pursue other activities.
  • By outsourcing work to India, you can stop worrying about the skills of your practice staff and instead enable them to focus on those functions they are experts in.

Over to you

The 2019 tax season is just around the corner and it is best to get help now rather than wait for later. QXAS is a leading accounting outsourcing firm in India and provides services to a range of CPAs, EAs and accounting firms in the US.

If you are looking to get some help to conquer the 2019 tax season, call us on 1-800-310-9312 or write to us on contact@qxas.us.com.