Back Office Definition

The tasks performed by these teams range from running payroll to preparing financial statements. Traditionally, they have been performed by professionals ranging from part-time bookkeepers to fully-fledged CPAs, depending on the size and sophistication of the business. All companies need some form of financial management to support their normal business operations. How they complete the financial management process, however, is often up to owners and managers. Hiring accountants or bookkeepers for basic back office accounting tasks can be costly for a small business.

Chat with our back office support team to ensure your company is established properly with a stable and scalable solution. Our outsourced bookkeeping, accounting, and CFO professionals are equipped to handle all of a business’s accounting and finance needs, from closing the books every month to assisting with  M&A transactions. Outsourcing back-office accounting tasks can help businesses build a new layer of competitive advantage. Leaders can invest the cost and time savings they realize into exciting new initiatives that drive future growth while benefiting from seamless access to higher-quality financial information. Solving these challenges is one of the primary reasons business owners outsource accounting and bookkeeping tasks to a specialized provider, but there are others too. Below, we summarize five of the key benefits businesses can expect to reap from outsourcing.

See if Back Office Accounting is right for your business.

We give you the financial information you need to make strategic business decisions. Get better accuracy, real-time visibility and meaningful insights. All the back office support you need.Accounting services, bookkeeping, payroll and administration,all in one place. Handling Back office processes, providing solution to customers across various industries like Accounting, Financial, Shipping & Logistics Account in Non-Voice processes.

• Today, most back-office positions are located away from the company headquarters.
• While changes to the timing and amount of revenue businesses recognize will vary depending on the type of contracts they execute, the need to reconfigure accounting/ ERP systems will be broad-based.
• At G-Squared Partners, we have significant experience in a variety of industries, including technology, and understand the nuances of accounting for different types of businesses.
• Some of the functions of the back office are confirming trades and settlement instructions, clearances, record maintenance, regulatory compliance, accounting, and IT services.
• We specialize in making the accounting process simpler and faster, operating with the customers’ needs in mind.
• Our services include Company Creation, Quickbooks Setup and Payroll Setup.

From outsourced bookkeeping services to payroll, company tax preparation to reporting. Maintaining a back-office accounting team isn’t just expensive, it’s also time-consuming. Founders and executives are responsible for hiring, onboarding, training, and overseeing their back-office staff.

Back-Office Accounting

This is not only inexpensive, but it also removes the need for maintaining offices in its main location. Outsourcing needs to be significantly cheaper than hiring and maintaining accounting staff in the local area. Back office support is the function of providing business administration services.

• We work with software you know and trust including Quickbooks & Xero.
• Schedule an intro call with our team to find out how our Back Office Accounting services can support your business growth and goals.
• While an owner can make a decision about the accounting process, the change is often made for the purpose of the front office.
• We perform the best to keep you at the top position among the list of your competitors.
• To meet the mission of your not-for-profit or association, you look for new ways to improve operations.
• Our team is highly experienced and knowledgable so let us put you at Ease.

If it costs $1,000 per month to secure office space per individual, a housing subsidy of $500 per month would result in an overall savings of $6,000 per year. The cost savings can be significant when employing many remote professionals. We have a trained team of accounts professionals, who are well conversant with the backoffice accounting services, trade regulation of the country and compliances. Our services include Company Creation, Quickbooks Setup and Payroll Setup.

Processes

With just a few clicks, the day’s activity is verified and transferred to your accounting software. The setup is flexible and enables you to see as much or as little detail as you like in your accounting software. Do your books at the shop or at a remote office and be confident your financial information is current and accurate.

Without reliable bookkeeping, it’s impossible for leaders to know exactly how their business is performing. While many bookkeeping tasks may seem relatively simple, they are the financial foundation back office accounting on which all successful businesses are built, and it’s vital businesses get them right. Below are some common back-office accounting functions that can be outsourced to an external vendor.

Industries With Back-Office Operations

Partnering with an outsourced accounting firm gives leaders access to real-time financial information, enabling higher-confidence decision-making. For back-office accounting, we separate it into three categories. Here are the services you can expect from us when we provide back-office accounting for your organization. In some companies, the backoffice is also specialized to the offering of accounting and finance services as well as settlements, clearances and IT services. A back office in most corporations is where work that supports front office work is done.

• All of your accounting and bookkeeping services can be outsourced to our team of expert accountants, bookkeepers and tax professionals.
• Manager’s report they need to accelerate performance evaluation, while maintaining controls for Inter— and Intracompany transactions.
• If it costs $1,000 per month to secure office space per individual, a housing subsidy of $500 per month would result in an overall savings of $6,000 per year.
• Back Office Accounting is ideal for business owners and CEOs who are trending water when it comes to their financial operations.
• Georgia works as a backoffice manager at a brokerage firm in Chicago.
• Our dedicate team of bookkeepers can complete a year’s worth of bookkeeping quickly.

We strive hard to provide our customers with world-class service at an affordable rate.We continuously explore new ideas to bring something new to the table. The intellectual mind and hard work of our accounting team can help you to get your work done remotely. These back-office services will free up your time so that you can turn your attention back towards growth. Our team is highly experienced and knowledgable so let us put you at Ease. However, businesses can only realize these benefits if they partner with an outsourced accounting firm that’s a good match for their business. Different types of businesses demand different approaches to accounting.