Top 3 Advantages of Outsourcing General Ledger Reconciliation Services

Posted on May 16, 2015

Read this blog post to find out why outsourcing general ledger reconciliation services can be advantageous for your business.

Have you considered outsourcing General Ledger Reconciliation Services? This is one of the most important accounting services that any business has to deal with and it very important that this business function is carried out in an accurate and timely fashion.  Outsourcing can help you achieve this, while enabling to reduce cost and increase quality.

General ledger reconciliation refers to the process of maintaining the final entries of the debits and credits of the accounts of an organization. Terms like liabilities, fixed assets, revenues, expenses, losses and gains form a part of general ledger reconciliation. These items have to be accurately categorized either in the form of debit or credit transactions, according to the transacting amount. The accuracy of general ledger reconciliation is critical to any business and requires the skills of accounting experts.

Outsourcing general ledger services can bring your business many benefits, the top-most being better quality, on-time services and low-cost services.

Advantage # 1: Cost-effective services minus investments

When you outsource general ledger reconciliation services, you can save on operating costs, without having to make any investments on software, resources, infrastructure or technology. Since the outsourcing service provider will be using their own team of skilled accountants, you need not worry about the cost of hiring and training an accounting team.  The financial service provider will also be using the very latest in accounting software and technology, thereby saving you heavy infrastructural costs.

Advantage # 2: High-quality services with guaranteed accuracy

While outsourcing, every business faces the fear of low-quality work. However, this is not true. Outsourcing general ledger reconciliation services need not mean that you compromise on quality. Outsourcing service providers like Flatworld Solutions only hire resources after a strenuous recruitment process. Then, the new team of accountants are given intensive training before commencing work on any project. During the course of an accounting project, there are several levels of Quality Assurance checks that the work goes through, to ensure 100% accuracy.  Hence, without outsourcing, you can expect impeccable quality when it comes to general ledger reconciliation services.

Advantage # 3: Completion of work ahead of the deadline

When you outsource accounting services to India, you can tap into India’s 12 favourable time zone difference. Contrary to popular belief, outsourcing can get your work completed at a much faster pace, since your night time is India’s day time. This difference in the time zone makes it possible for you to send in your work at the end of your work day and receive the completed general ledger accounting files on the very next morning. By getting your accounting work completed at such a fast pace, you can make important business decisions, without time delays.

Find out more about the Financial Services offered at Flatworld Solutions.

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