Advantages and disadvantages of outsourced accounting services

Today with the strong development of the economy, there are many businesses established. Whether in any business, whether dealing in goods or services, accounting work is indispensable. Recently on the market appeared a type of service that many businesses are interested in, which is outsourced accounting services. The birth of accounting services is said to be the optimal solution for new businesses, small and medium enterprises,.. So what are the advantages and disadvantages of outsourced accounting services? Is it right for your business? Let's find out through the article below.

1. What is an outsourced accounting service?

An outsourced accounting service is an accounting service that is outsourced to another unit. This service can be an organization or an individual who accepts to do the accounting work of companies according to an agreement in principle, a working contract.

Outsourced accounting services will help businesses deal with all accounting tasks from tax, tax declaration, finance, .. accurately and reliably.

2. Advantages of outsourcing accounting services

Save time

When hiring external accountants, all accounting, tax, ... are solved quickly and accurately in a short period of time. Moreover, businesses will not have to spend time training accounting staff.

Cost savings

When using accounting services, business owners will not cost to hire employees, pay allowances and support accountants, etc. Instead, businesses only need to pay a fee. certain to hire accounting services while still ensuring the work is completed professionally and accurately.

Guaranteed accuracy and professionalism

Accounting services always ensure to have a team of professional accountants with many years of experience, always timely update information about laws and accounting regimes, bringing practical and accurate benefits to businesses.

Enterprises can focus on developing core competencies

When choosing an accounting service outside the business, you do not have to worry about the change in the staff, causing the handover and the work process to be delayed. Therefore, it helps businesses to focus on developing core competencies, focusing on improving the company's core employee competencies.

3. Disadvantages of using outsourced accounting services

Ineffective communication

Usually when hiring accounting services, experts and outsourced accountants will not often come to the company, but they will receive work via email or only come to the company when absolutely necessary. Therefore, communication is limited, sometimes making it difficult to negotiate work.

Loss of accounting control

If a business chooses an unprofessional outsourced accounting service, it can easily lead to the loss of accounting control such as tax information, inaccurate law, lack of up-to-date information, sometimes prolonging the time to influence. to the business.

In addition, an accounting service cannot do many things at the same time besides doing accounting for the business.

Related: Benefits of using outsourced accounting services

4. YNNGLOBAL – Prestigious outsourced accounting provider in Vietnam

YNN GLOBAL is currently a reputable accounting service provider in Vietnam. With many years of experience in the field of corporate services, YNNGLOBAL always ensures to support businesses with the most professional and quality accounting services. Outsourced accounting services at YNNGLOBAL help your business to optimize costs effectively, fully perform tax reporting, record-making, accounting books for each week, month, and year. If your business has needs or questions, please contact us via hotline 0909 594 196 for the earliest and most detailed advice.

YNN GLOBAL - Consulting services

Hotline:  +84 909 594 196

Website:  ynnglobal.com.vn

Email:  info@ynnglobal.com.vn

Address: Winhome Building, 150 đường Trần Não, thành phố Thủ Đức, thành phố Hồ Chí Minh, Việt Nam.