Table of contents
Part of managing a business in the Philippines is keeping a close eye on accounting tasks. By outsourcing accounting in the Philippines, you can leave these tasks in the hands of experts.
Below we discuss the main advantages of outsourcing accounting in the Philippines. We will also detail the different ways you can outsource accounting.
Outsourcing Accounting in the Philippines is More Cost-effective
Outsourcing is a cost-effective option. Fees paid to a third-party provider are cheaper than the salary of a full-time accountant.
You will also save money on equipment and tools. When you outsource accounting, you won’t need to buy accounting software. You also won’t need to provide computers or a workspace for the accountant.
On top of this, when you outsource accounting, you will only pay for the services you need. You can add or remove services as your business’ needs change.
More Accurate Computations and Financial Records
Keeping accurate records is essential to tax reporting. Outsourcing to experts ensures that your books and financial documents are accurate. Accountants will also maintain accounting standards mandated by the Philippine government.
Maintain Compliance by Outsourcing Accounting in the Philippines
Foreign-owned businesses are not exempt from local laws and regulations. All businesses must comply with tax regulations. In addition to that, companies must also maintain accurate financial records.
Accountants have a deep understanding of relevant laws and regulations. Outsourcing to an accounting specialist ensures compliance with such laws.
A professional accounting service can complete the following tasks for you among others:
- Corporate income taxes. A professional accounting service will take care of your corporate income taxes. Emerhub’s accountants will accurately compute your business’ taxes. We will also file your taxes within the mandated period.
- Maintaining general ledger. Outsourced accountants will accurately record your business’ assets and liabilities.
- Processing invoices. An outsourced accountant can handle invoice processing from receipt to payment.
- Making payments. Emerhub’s accountants can make payments on behalf of your company.
There are a number of options for outsourcing accounting tasks in the Philippines.
Find a Freelance Accountant
You can find freelance accountants on freelancer portals. Freelancers often work on a per-project basis or part-time. As such, the rates and terms of payment are usually more flexible.
One important thing to note is that freelancers often work alone and have several clients at a time. If they take on too many projects, they might miss deadlines. Even worse, they can terminate your contract and leave you hanging.
Use a Professional Accounting Service Provider in the Philippines
You can also outsource tasks to a company that specializes in accounting services. A professional accounting service provider will likely have better resources than a freelancer. This will be beneficial to your company.
For example, a company has more manpower. With more people working on projects, it’s unlikely that they will miss deadlines. A service provider also makes use of professional accounting software. Using professional software lessens human error and produces more accurate results.
Accounting is one of the main services of Emerhub. Our team of accountants is ready to take care of your company’s accounting tasks. We will accurately compute your taxes and maintain your books and records.
Outsource accounting in the Philippines
Tax reporting and accounting by Emerhub
Hire a Full-time Accountant in the Philippines
Some business owners prefer having a full-time accountant on staff. This is particularly true for businesses that are growing. Fortunately, the Philippines has many highly educated accountants that you can hire.
Your in-house accountant can take care of all your accounting tasks. On top of that, they will be on-hand to assist in your business’ internal projects.
Emerhub can find an accountant for your business. Our expert recruiters will help you find expert accountants in the Philippines. Just tell us your requirements and we will match you with the perfect candidate.
Outsource your accounting tasks to Emerhub. Our skilled accountants will manage tax and accounting tasks for your business. We can also help you find and hire in-house accountants for your company. Tell us what you need by filling out the form below or by sending us an email at [email protected].
Let's grow your business in Philippines
Get in touch with Emerhub by filling in the form below and our consultants will reach out to you within a few working hours.
More articles from Philippines
Why the Philippines is the Best Place to Recruit Your Outsourced Workforce
The Philippines is one of the top destinations for outsourced workforce in the world. Here’s why.
How Much Does It Cost to Hire Remote Workers in the Philippines?
Learn about all the costs associated with hiring a Filipino remote employee.
Hiring a Virtual Assistant – 10+ reasons to look into the Philippines
Most executives don’t know how to get the most out of their virtual assistants. It’s a skill and it can be learned.
What is the best way to hire a virtual assistant in the Philippines?
There are many ways to hire a virtual assistant in the Philippines. Choose one that meets your objectives.
Outsourcing to the Philippines: How EOR outperforms BPO
There are several ways to outsource to the Philippines. This blog will explore where BPO’s fall short and how businesses looking to outsource to the Philippines can overcome these issues.
Staffing Solutions Commonly Outsourced to the Philippines
Find out why Google outsources over 50% of its employees and how this staffing solution saves them time money and provides them with the flexibility to innovate more quickly.