In-house vs. Outsourced Accounting
The daily accounting work within a corporation may cost management a lot of supervision time. However, if part of or even all the accounting functions are outsourced to a professional service firm, management will be able to save more energy to concentrate on the core business. Here are some comparisons between in-house accounting and professional outsourcing.
| In-house | Outsourcing | |
|---|---|---|
| Management time | Extensive monitoring time, | Monitoring cost is minimized |
| Quality | May be inaccurate and incomplete, which impacts business decision | World-class reporting quality, which provides decision support to management |
| Software | Have to purchase software at company cost | Get access to existing accounting software |
| Growth | Hard to catch up with the pace of fast expansion | Standard policies and procedures to support the rapid growth of business |
| Economic scale | Cost incurs for EACH additional entity | Economic scale could be achieved to save cost |
| Risk | Relatively high fraud and non-compliance risk | Low fraud risk, compliance with statutory requirements is achieved |
| Culture | Accountants are subordinates who only provide “labor” | Gain access to “services” from external vendor |
Our Services of Professional Outsourcing
We set up team of professionals with solid financial background and versatile corporate experiences to meet your specific requirements. We are not only accountants but also your business partner providing value-added advices and practical solutions. Our outsourcing services will cover the following:
- Bookkeeping of daily accounts
- Preparation of internal management reporting package in accordance with IFRS/US GAAP/HKFRS, etc.
- Tax compliance advisory
- Processing of billing and payment
- Business analysis on financials and budgets
- Handling of employee payroll and social welfares
- Company formation and deregistration
Our Experiences of Professional Outsourcing Service
We have provided a wide range of outsourcing services to clients like representative office, small/medium size FIE, and even Fortune 500 or Global 1000 companies. Clients using our outsourcing service are usually with the industries of import/export trading, consulting service, international and domestic delivery, law firm, manufacturing plant and etc.
By significantly reducing service costs we offer our clients an excellent alternative to Big Four accounting firm at the same service quality standard. We are committed to provide proactive, effective and responsive professional services so that our clients would enjoy valuable returns from their investment on our outsourcing service.
Contact Us
ThinkBridge Business Consulting
ThinkBridge CPAs
info@think-bridge.com
ShangHai Office
Unit 03-06, 9F Baohua Center Guangzhong West Road, JingAn District
Shanghai 200072
Tel： 86(21) 6375 8318
Fax：86(21) 6375 8328
BeiJing Office
Unit B23,8/F, CP Centre,
CBD Core Area Z14, Guanghua Road,
Chaoyang District,
Beijing, P.R.China 100020
Tel：86(10) 67765082