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Hire Offshore Accounting Services by Lekhakar and Stay Ahead of the Competition Curve
Save your businesses from the hefty cost of managing an in-house accounting team. Hire expert accountants at Lekhakar to enhance your accounting system.
Lekhakar is a reliable offshore accounting services provider ready to offer you accounting assistance in a cost-effective way.
Defining offshore accounting services
When an accounting service provider firm offers accounting services to a client based in another foreign country - it is called an offshore accounting service.
Offshore accounting service is somewhat similar to outsourcing, only difference is that the service-providing firm belongs to a foreign country.
It saves the cost of accounting while delivering expert business accounting services for your business. So, you can save resources and invest in other aspects contributing to business growth.
Offshore vs. Onshore accounting: Key differences
In an offshore accounting service, a firm works with a client based in a foreign country. This approach is mainly popular because of its opportunity for cost-saving.
On the contrary, when an accounting service provider offers their services to a client of the same country – it is called an onshore accounting service. In most cases, onshore accounting is not more profitable than offshore accounting due to similar cost of living and currency value.
At Lekhakar, our offshore accounting services include:
Accounts payable is a liability account of a business. It keeps track of parties and clients of the business to whom your business owes money.
The accounts receivable can be considered a current asset for the company as it lists the names of the clients who owe money to your business.
When you keep a close tab on your accounts payable and receivable, it helps in managing the financial health of your business. You are also able to maintain a transparent relationship with your clients.
Hire Lekhakar for reliable offshore accounting services and manage your accounts payable and receivable system.
Payroll management
Payroll management involves listing all the employees of an organisation and calculating their payment structure. The payroll management system also involves the calculating gross salary of employees and determining net salary after deductions of PF, ESIC, TDS, PTAX and others.
An accurate payroll management system will ensure all the employees get their due benefits and payments.
Rely on Lekhakar’s offshore accounting services to help your business with efficient payroll management.
Bookkeeping
Bookkeeping is a continuous process of recording and keeping track of the daily transactions of your business. Journaling sales, purchases, and money received or paid are included in the bookkeeping service. Proper recording of business transactions helps maintain transparency and ensures compliance with government regulations.
Through our offshore accounting service maintain a transparent bookkeeping system for your business.
Hire Lekhakar’s offshore accounting service today!
Tax planning
Tax planning for offshore clients often includes compliance with tax norms, income tax return filing preparation, compliance with business taxes like GST or VAT, and others. Proper tax planning will ensure that the business runs smoothly without complications from the government.
Accounting professionals at Lekhakr responsible for delivering offshore accounting services, have in-depth knowledge of the tax norms of different countries.
We are here to deliver you a reliable tax planning service by following the tax norms of your country.
Preparing financial reports
Financial reports for businesses are prepared by considering all the relevant financial data of the business. For example, preparing a sales report can provide you with an overview of total sales in the month or week; an expense report will provide the expenses of the business.
Such financial reports help you make business decisions, and set new goals to achieve.
Avail offshore accounting services by Lekhakar to accurately prepare financial reports for your business.
Why choose Lekhakar for offshore accounting services?
All the accounting professionals in Lekhakar have extensive knowledge of the financial rules and norms of different countries. We have personnel specialised in financial laws of countries like USA, UK, UAE and many other countries. We guarantee you a reliable and expert accounting service.
Choose Lekhakar as your trusted offshore accounting service partner for all your accounting needs.
FAQs
1- How does offshore accounting add value to your business?
Hiring an accounting team or an expert is similar to hiring an accountant personnel for the company. However, when hiring from Lekhakar through the offshore accounting services it saves you money on hiring, training and employment.
You can get similar accounting services at a lower cost and engage in-house employees in more complex work. Hence, you optimise your resources.
2- How important is clear communication and collaboration between offshore service providers and clients?
Both clients and service providers belong to different countries and cultures. Hence, proper collaboration and communication between the two parties are most important. It will improve the productivity of the offshore team members while providing accounting services.
3- Why India is the best place to offshore accounting services for your business?
The Government of India has outlined favorable policies for outsourcing services to foreign countries. Besides, the time zone difference between India and European countries ensures business operations continue even in off time for the clients.
Modern trends in the offshore accounting services include heavy reliance on Big Data analysis along with dependency on automation. The main reason for this is to minimize accounting errors and make the accounting process seamless for the business.
The trend of remote working is also increasing, thanks to the pandemic situation around the world.
5- What are some of the advanced technical tools used in offshore accounting services?
QuickBooks, NetSuite, and Zoho Books are some of the reliable cloud-based accounting tools used in offshore accounting services.
