Grow your accounting firm with offshore
For a small to medium accounting firm or a department of a similar size – payroll is a big task and often a drain on accounting staff. Whether that be managing timesheets, the preparation of pay slips, group certificates, salary payments, super management or leave accruals.
All payroll tasks can be conducted by a fulltime offshore payroll employee that you choose, and you manage.
Free your team up from this essential task and trust a highly qualified and experienced employee from the Philippines. Staff Domain will find you staff that will effectively and efficiently manage your payroll – on time and accurately.
There is a large talent pool of candidates in The Philippines with significant experience, that comes at a much lower cost than hiring full time locally.
More than just cost saving, leveraging payroll outsourcing services through a dedicated offshore employee will mean your business stays compliant and on top of all relevant local legislation.
Discover the 3 easy steps to finding your offshore
What payroll software can my offshore payroll staff use?
In short, your offshore team can use whatever tool you are using already. Quicken, MYOB, Xero and Reckon are just some of the software packages that you’ll find Filipino talent are highly competent in. They can process payroll using your software -under your full supervision.
What kind of experience can I expect?
The scope of the role is entirely up to you. However, some of the common tasks of an offshore payroll employee include:
- Pay slip preparation
- Accrual and management of all types of leave
- Calculation and payment of superannuation
- The preparation and upload of payroll journals into your software solution
- Compliance payroll reporting
- Payroll tax lodgement.
What can I expect to pay?
A good candidate with intermediate level of experience will cost you top Filipino dollar – which by western standards is typically 60% less than what you will pay locally. Why would you hire any less than the best? Paying a good market salary means you not only hire the best, but you will reduce the cost of churn that you’re almost guaranteed when you go for cheap options.
Staff Domain offers world class office facilities, training and development, recreational activities, travel opportunities and market leading insurance packages – which means we attract and retain the best. If you want your payroll managed meticulously by a high performing employee or team, speak to Staff Domain.
Specialised positions like certified forensic accountant, are often the hardest ones to fill, due to a shortage in skills. Not just in Australia and New Zealand, but many other developed countries.
The Australian Department of Jobs and Small Business reported a continued shortage in Accounting professionals from 2017 to 2018. On average, 14 accountants applied for one job opening, but the majority of them were considered unsuitable.
Skilled, highly-qualified and affordable finance professionals are within reach of small and medium accounting firms thanks to accountant outsourcing.
Staff Domain believes that Filipino accountants are among the best in the world. They are also exceptionally good at working with foreign clients. The presence of major Australian accounting firms in the Philippines, such as Ernst & Young and KPMG, has created a talent pool of experienced resources for offshore small business accounting tasks.
Accounts receivable outsourcing is a cost-effective way to improve your cash flow. Invoice on time and do away with the repetitive and often uncomfortable need to chase clients for money by adopting accounts receivable management services from Staff Domain.
Cash flow is king in any business, but especially small to medium businesses where effective accounts receivable management is critical. Slow payments choke businesses and hinder the ability to grow or invest. The trick is finding someone who can collect on invoices firmly without straining the customer relationship.
Accounts payable may be taking up too much of your accountant’s time. Perhaps you have already identified you need a full-time staff member in that position. Regardless of your circumstance, by turning to an accounts payable outsourcing solution, you’re going to see positive change in your business.
By offshoring small business bookkeeping tasks like accounts payables, you can have a talented employee focusing full time on your cash flow. Don’t just pay bills, have them planned out, supplier relationships effectively managed and your money trail clear, and clean.
Trust accounting services require specific training on trust accounts and taxes. This specialised position is in great demand locally so if you’re on our website, chances are you can’t find the right person or can’t afford the high salary.
Offshore Accounting Services is a good solution to the trust accountant talent gap. It has brought countless benefits to thousands of small and medium accounting firms in Australia and New Zealand. In the past decade, the number of SMBs sending work across borders has increased significantly due to the positive experience of larger, more established firms in this space.
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Postponed earlier in the year at the on-set of the Covid-19 pandemic, the Accounting Business Expo 2020 has since been rescheduled to take place on November 16 to 17. Visit and connect with Staff Domain's virtual booth for the complete A to Z on offshore accounting.
Offshoring Research Webinar
Hear on-demand research analysis directly from the researchers behind Bond University’s ‘Offshoring of Accounting Services in Australia’ report. Listen to anecdotal stories from Aussie accounting SMEs who took part in the Offshoring Research, as you get views and guidance from an offshoring expert.
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