Outsourcing bookkeeping is taken in Colombia

Lower costs and accountancy firms are outsourcing some benefits with this.

Hiring third parties to carry the business Accounting Software is an alternative that has been used increasingly in the country, because the policies of the entities found in this resource timeliness, accuracy and confidentiality. These three elements are essential to any organization, especially if it is being delivered to an external person, valuable information about your financial activity as a company or business that allows you to make decisions at some point. Clearly, the accounting records show the situation quickly the company, its stability and financial capacity.

“There is a growing trend in Colombia of this activity, which began to be booming with the arrival of several foreign firms, instead of mounting an entire accounting department, others choose to rely on their operational records, by the experience that they have in the subject.

“But today, many new national capital companies are also using these services, as in the case of SMEs, which for reasons of cost reduction used this figure with excellent results,” says Ernesto Erazo Cardona, manager of Audit and Outsourcing MCA Morrison Accounting. A figure which tends to increase every day, even if it means leaving out some fears, such as “fear of employers to someone other than your employees know your business and the figures used.

 Consider that it is a cultural problem, as there is some reluctance to change. Other, perhaps unaware of the advantages of this type of service and competitive in terms of cost, “explains Martin O. A Jaimes, deputy legal representative signature Auditing, Consulting, Outsourcing and Advisory OHSAS Management (A & CO).

Many have overcome this obstacle and, as President of the Federation of Chartered Accountants of Colombia (Fedecop), Hector Jaime Correa Finch says “Colombian firms have been delegated the functions of accounting in natural and legal persons, obviously suitable to perform this important task of information. “

According to reports Fedecop, currently in the country there are about 2,000 institutions offering Bookkeeper Manly  outsourcing, but also there are individuals who do this work, which are public accountants, which may reach the figure of 50,000. How it works The client and outsourcing company signed a service contract, which contains several annexes that describe exactly the purpose, scope, responsibilities and obligations of the agreement and an agreement of confidentiality of information, which applies to both firm providing outsourcing as its employees, consultants and advisors. Consequently, companies that hire the outsourcing of administrative and accounting part. Other, payroll and tax returns.

There are cases that require them to manage the entire accounting process and generate them and submit their reports and bring them some specific accounting functions such as accounts receivable or payable. Advise, one of the tasks of outsourcing firms.

Advantages offered by the system to businesses

 Among the benefits of this model of delegation of functions to a third party is the reduction in operating costs compared to do with their own staff (considering the level of their salaries, benefits and profits). “They can find consultants in specialized accounts or applying international standards governing this social science. May also have a management accounting and reporting of this in English because it is not easy to get in the Colombian market counters are profiles, “Jaimes said. Mario Rojas Castillo, manager Outsourcing AQ indicates that “out of the above benefits can have a separate management accounting, have updated their monthly income and expense information and advice from professionals in costs, taxes, fiscal, tax and financial issues, with appropriate and timely management of their accounting records. “

The accounting outsourcing

Outsourcing PTO

Basically involves the collection, sorting, coding and keying of all source documents that feed the accounting process of companies. Additionally, some companies opt for outsourcing delivery related activities, such as payroll, portfolio, financial and tax issues, among others.

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