Outsourcing Hub India

Accounts Payable (AP) is the amount of money which a firm is supposed to give a person or a company that provides them with goods or services. Therefore, it is quite significant to manage these accounts smoothly and efficiently, which can be provided by Accounts Payable Outsourcing which is a service provided by Offshore Accounting and Taxation Service Providers. Accounts payable activities include vendor contract management, invoice entry and payments, issues statutory services and creditors reconciliation. The issues in payment account can cause a hefty amount of financial as well as reputation damage to a company. The following are the errors caused in payments account and the solutions to them: 1. Manual Data Entry Error A simple human error in data collection for accounts payable may cause losses and also spoil relations of the company with suppliers. Since the amount of error is 88% in the total manually handled accounts, it can be concluded that it can occur mor...

We understand that a real estate investor is burdened with loads of work which includes managing one or more properties, their maintenance, finding reliable tenants, and ensuring the overall profitability of the business. With all these responsibilities  real estate accounting  or bookkeeping tends to take a back seat. However, accounting for all the financial transactions is a crucial aspect of any business. Failing to keep a track of the income and expenses can prove costly and also increases your burden during the tax filing season. But do not worry, we have a list of practical tips and techniques that will help any real estate investor to be on top of their rental property accounting: Separate Personal and Business Accounts The first and the most basic tip to keep in mind is to separate personal and business accounts. Rental property owners tend to pay for management of their properties through their personal accounts. Although this sounds easier, it mixes ...