Velan is your trusted partner and virtual bookkeeper to efficiently manage your small business bookkeeping and accounting services. FinTax Experts India aims to help SME (Small and Medium Business Enterprises) based in the USA, UK, Canada, and Australia to complete their bookkeeping, accounting, and tax preparation services. This outsourcing provider has over 15 partners and an offshore team of 300+ professionals to ensure high-quality services.

Bookkeeping & Accounting Automation

They should also be able to complete accounting and finance work without making any mistakes. If not, your in-house accountant may have to cross-check all the calculations — making outsourcing accounting unbeneficial. In such situations, you can outsource accounting to an offshore firm where accountants are more skilled. Or, your full-time accountant may not be trained enough to carry out complicated work like tax calculation or payroll processing. However, it can be difficult to bring the whole team together during an urgent team meeting or business emergency as their working hours will differ.

Our experts are available to provide guidance and advice on financial matters, giving you peace of mind that your finances are in good hands. Offshore bookkeeping services can save your business valuable time and money compared to hiring an in-house bookkeeper. By working with us, you’ll have access to top-tier bookkeeping services without the expense of maintaining an in-house team. Looking to streamline your business operations and take your financial management to the next level?

Reduce upto 70% operation costs

For example, Mexican labor law has made it mandatory for offshoring and outsourcing companies to share 10% of their business profits with their employees. Time zone differences can be a double-edged sword for companies looking to offshore their accounting services. You can rest assured that your information is held with great care, by offshoring accounting and bookkeeping functions to globally qualified chartered accountants. Initially, you can offshore only those tasks that may be difficult or costly to operate in-house. Once you’ve figured out a comfortable pace and style of working with the offshore vendor, you can outsource the remaining services too. This cost-effective strategy can help ambitious small businesses to scale up and down with ease.

SAP Audit Management

It’s extremely tough to check the efficiency of your offshore accountant if they’re working in a different country and time zone. Not only did they help us with our taxes but also helped us file taxes before deadline. Our accountants will always update you on any upcoming due dates, eliminating any worry about missing a deadline. We have been working with Velan Bookkeeping for a few years, and they’ve been great!

1. Our team offer specialized services in taxation, accounting, payroll, and more, tailored to your unique needs.
2. The Pandora Papers, released in 2021, consisted of nearly 12 million leaked documents.
3. Additionally, we limit access to your data to only those team members who need it for specific tasks.
4. While offshore accounting services can be beneficial for your company, there are several things you need to consider before hiring a service provider.
5. Ltd. (BMC SAAS) is an offshore company situated in India that can help you with payroll preparation, financial accounting, taxation, and many other financial services.

To avoid such miscommunication, offshore teams should hire multilingual staff who can clearly communicate with their global clients. So it may happen that your offshore team is unable to understand the work brief properly. Such a scenario can cause work delays, internal conflicts, higher project costs, dissatisfaction amongst clients, and low employee morale. With offshoring, you have the freedom to hire talent with high expertise, someone who can fulfill your specific work requirements.

Offshore accounting involves delegating accounting and finance services to an external organization from another country. Additionally, the IRS (Internal Revenue Service) developed the OVDP (Offshore Voluntary Disclosure Program) for US taxpayers to disclose previously unreported basics of lifo and fifo inventory accounting methods offshore assets in offshore financial centers. The IRS audits suspicious accounts that try to get away with offshore tax evasion. For instance, while offshoring to a foreign country, US companies need to file an FBAR (Foreign Bank Account Report) for an aggregate value of USD 10,000 in their offshore bank account at any time in the year. The cost of paying your offshore employees is less than what you pay to your in-house employees.

Outsourcing bookkeeping services to KMK can provide your business with a reliable and cost-effective solution for managing financial records. Our team of experienced professionals will handle tasks such as maintaining ledgers, preparing financial statements, and reconciling bank accounts, ensuring your financial records are accurate and up to date. At KMK, we pride ourselves on offering offshore bookkeeping services tailored to meet the unique needs of each client.

The client will be assigned a personal consultant who is most interested in the client’s company to be successful and bring big profits, stable development. We employ robust encryption methods, strict access controls, and comply with industry-standard data protection regulations to ensure the confidentiality and integrity of your financial information. With a focus on precision, we offer a wide range of accounting, tax, and offshore staffing solutions tailored for your needs. Velan understands the importance of safeguarding customer data throughout its entire operational lifecycle. We ensure the uttermost protection of customer property throughout the entire product development process, including storage and logistics. We demonstrate our dedication to data security through the implementation of ISO in our office.