Benefits of Outsourced staff for Australian Accounting firms

The last couple of years have thrown endless unexpected challenges to Australian businesses and pressures applied by the pandemic particularly have seen small to medium enterprises constrict on several operational fronts, including accounting and bookkeeping. 

As we’ve referenced in the past having a good accounting system is imperative to business operations. However, with staffing changes, working from home and other challenges Australian SMEs are facing, business owners could benefit from engaging an outsourced accountant. 

Having an outsourced accountant to manage your day-to-day bookkeeping alleviates some stress on business owners and managers – many owners are great at negotiating a deal, however their focus on accounting and other operational methods may not be as strong – particularly if there is a reduced team on deck. 

Outsourced accounting can be as simple as bookkeeping, right through to a full accounting service that can manage processes such as:  

·Invoicing 

·Follow-up of unpaid accounts  

·GST & BAS management  

·Taxation reporting 

·Payroll and superannuation contributions 

·End of financial year reporting 

Many members of the outsourced accounting team at Profitmaster are university trained – some up to CPA level – and all are proficient in Australian accounting practices. 

Profitmaster’s team of outsourced accountants are regularly updated on Australian taxation, superannuation, GST and other laws and will seamlessly integrate into your business operations. 

This means you can concentrate on expanding your business while all your bookkeeping is being taken care of. 

Being based in the Philippines, Profitmaster’s team is on the same timezone as Australia and our business processes have been established to mirror how an Australian company would operate. 

Other benefits of engaging with an outsourced accountant include: 

·Time saving – someone is doing your bookkeeping work for you 

·Save money – the cost of engaging an outsourced accountant offshore for your bookkeeping is significantly lower than hiring local staff – there is no need for superannuation contributions and other payroll expenses if you were managing these processes in Australia 

·Expertise – every member of the Profitmaster team is scrutinised before employment and all are highly trained in their area of specialty 

·Productivity – the outsourced accounting team at Profitmaster are fast, efficient and able to turnaround reports and tasks quickly. Offshore staff that we hire have a strong work ethic and our systems ensure we get the best out of our people 

·Work on your business not in it – your outsourced team will enable you to focus on business development 

Want to know more? 

Profitmaster’s outsourced accounting services is one of our major offerings that allow Australian businesses to outsource administrative, IT and other services. Profitmaster was founded in Australia and built in the Philippines by Richard Croaker, an accountant who has worked for many of the biggest accounting firms in Australia.  

Hundreds of Australian SMEs have benefitted from Profitmaster’s professional, ethical, and efficient bookkeeping and outsourced accounting services and have not only grown their businesses – but have mastered their profit in the process! 

Contact us so we can discuss your business and requirements in more detail.