Accounts Payable Outsourcing

Businesses today are frequently being challenged constantly to reduce costs, to drive productivity and to improve process efficiency. Our innovative accounts payable outsourcing solution helps customers transform their accounts payable processes into a semi-automated system, driven by business rules. This results in lower processing costs, improved controls, higher service levels and higher business intelligence.

Key Benefits

  • Lower processing costs through a combination of technology and outsourcing
  • On time payment eliminates late fees and generates early payment discounts
  • Complete visibility to invoice status, open invoices, paid invoices through a variety of reports
  • View co-relations between checks issued & invoices that have received payment
  • Systematic record of all invoices for audit purposes

Why Choose Us

  • 40-60% Cost Savings: Low hourly rates from $9 onwards
  • 99% accuracy rate
  • Quick turnaround time
  • High accounts payable expertise including 2 Way (PO) and 3 Way (PO and Packing Slips) Invoice Matching, Multi-Item Invoice entry, and other complicated AP processes
  • Only Accountants perform accounts payable duties ensuring higher accuracy, consistency and completeness of work
  • We process more than 15,000 invoices monthly
  • Clients spread across twelve states in the US
  • Custom packages of 25, 50 and 80 hours per month available

Please email sales@outsourcinghubindia.com or call 1- 646-367-8976 for a customized NO Obligation analysis of your accounts payable process.

Our Services

Our team of accounts payable specialists and accountants has deep experience in outsource accounts payable and disbursement processes. We process hundreds of invoices daily across real estate, logistics, online stores, IT companies, construction companies and multiple other businesses.

  • Accurate and fast entry of purchase invoices on the basis of supporting documentation like purchase orders, contracts and other related documents
  • PO based (2 Way and 3 Way) invoice processing involving matching of invoices with packing slips/goods receipts and purchase orders
  • Processing of multi-item purchase/material invoices involving detailed line-wise entry of items
  • Processing of AP invoices with tracking of input taxes such as Sales Tax, GST, VAT (as applicable locally)
  • Handling of complex AP invoices involving retainage/holdback, allocation of expenses across divisions/properties
  • Entry of checks with relevant information and processing ACH and wires
  • Processing of utility bills in accounting software based on scanned bills and/or by accessing online utility accounts
  • Creation and maintenance of vendor database
  • Tracking vendors and sub contractor records for ensuring compliance to workers insurance and other statutory requirements
  • Ageing of payables and tracking of payables to ensure early payment discounts and/or adherence to existing payment terms
  • Accurate and timely vendor reconciliation
  • Issue of 1099s to vendors

Client List

To view Our Client List, Click Here

Testimonials

To view Our Client’s Testimonials, Click Here

Software Expertise

SOFTWARE
EXPERTISE LEVEL
QuickBooks (QB) (QB Pro, Premier, Enterprise and QB Online)
High
Xero
High
NetSuite
High
Peachtree
High
Great Plains (Microsoft accounting software)
Medium
Easy Accounting
Medium
Caseware and Multiledger
Medium
Sageline
High
FreshBooks
High
ERP and Oracle packages
Medium to High
ProSeries and ProFx
High
Ultratax
Medium

 

Cost Saving Comparison

Bookkeeper/Jr. Accountant
US Employee
India Cost
Annual Salary
36000
18000
Payroll Taxes (8%)
2880
Overhead Costs (10%)
3600
Total Cost
42480
18000
Staff Accountant/Sr. Accountant
US Employee
India Cost
Annual Salary
50000
25200
Payroll Taxes (8%)
4000
Overhead Costs (10%)
5000
Total Cost
59000
25200
Financial Analyst
US Employee
India Cost
Annual Salary
60000
31200
Payroll Taxes (8%)
4800
Overhead Costs (10%)
6000
Total Cost
70800
31200

All figures in USD

Note

  • Employee benefit costs in US not included in the comparison
  • Overhead cost includes cost of leasing computer hardware and maintenance related , software like accounting package licenses, training, floor space, and electricity among others
  • Offshore cost are only estimates; includes wages, infrastructure, training and technology cost
  • US Salary figures are average figures for New York

Pricing

Details
Platinum
Gold
Silver
Bronze
Minimum monthly hours
160 Hours
80 Hours
50 Hours
25 Hours
Monthly transactions
800-1400
500-800
200-500
< 200
Entry of invoices (AR)
Entry of bills (AP)
Bank & line of credit reconciliation
Credit card & merchant account reconciliation
Payroll
Payroll return
Monthly financials- Income statement and balance sheet
Year end preparation
Simple financial analysis
QuickBooks installation and setup
Tax Return
Senior accountant review
CFO review and advice
Turnaround Time
1 Business Day
1-3 Business Days
3-5 Business Days
1 Week
Charges
$1500
$800
$525
$275

Note

  • The above charges are indicative charges for standard accounting services to be performed by a junior accountant
  • Prices are subject to change based on the complexity of the business.
  • Payroll includes filing federal and state payroll tax returns and W-2 filing at year-end.
  • Turnaround time refers to work that could be done in one day had the staffing been at the full accountant level

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