Monday, March 24, 2008

What Are Write-up Services?

Professional write-up services can help you manage your finance and accounting needs in an efficient way and ease the workload on your in-house staff. Write-up service providers maintain your entire accounting and transactional information; create financial statements, account receivables, account payables, general ledger; manage account reconciliation; manage fixed assets; perform tax filings; handle payroll; and more. By utilizing these write-up services, you can reduce accounting and finances related stress and ensure accuracy of all your financial reports and records.

Service providers leverage popular accounting software like Quickbooks, NetSuite, Quicken, Peachtree, Sage, and Intuit for better management of even complex accounting requirements. They take financial data inputs in any format (Excel, Access, PDF, image files, hard copies, etc.) and then produce financial reports in the format of your choice. Teams of experienced accountants, who make the write-up process faster and more accurate, complement this. You may outsource write-up services for your entire financial year or get it done periodically, or at the end of the year, based on your business requirements. Most providers offer flexible options that can be customized for the needs of your organization.

Efficient financial management directly translates into informed business decisions, regulatory compliance, better forecasting, and overall a well-managed organization. By outsourcing write-up services, you will not only reduce cost but also get completed and error-free financial statements on time.

Of course, initially you would need to spend a bit of time with your outsourcing services provider to ensure sufficient knowledge transfer for clear understanding of your business processes. You must also attest the quality processes and security methodologies followed by the service provider that guarantees complete safety and accuracy of your critical financial data. To begin with, you can evaluate a few offshore vendors and select the one that offers the best service, quick turnaround, and proven experience in this domain.