Accounting & Bookkeeping Banking Services

Bookkeeping is a tedious but a necessary process with any company or financial institution. Maintaining accounts of business transactions can put a huge burden on your operating and administrative costs especially if the volume of transactions is high. Outsourcing has come as a breather to banks while cutting operational costs and saving time that can be invested in strategic functions.

Can banks outsource bookkeeping services?

Banks, unlike other organizations, need to engage in daily bookkeeping tasks because of the nature of their operations. This poses a greater risk and challenge in having accurate records of your accounts. Even a slight error in the books might result in disastrous consequences.

Outsource2india has been acting as a virtual back office to many companies around the world who have outsourced their bookkeeping and accounting needs. We also specialize in providing personalized banking services to financial institutions of all sizes.

Outsource2india’s bookkeeping services for the banking industry

Outsource2india can handle the entire gamut of bookkeeping and accounting activities that banks have to deal with. These cover:

1. Daily ledger and journal entries
2. Maintenance of Accounts Receivables and Accounts Payables
3. Preparing and updating Profit and Loss (P&L) Statements
4. Preparation of Balance Sheets and Income Statements
5. Updating Bank Reconciliation Statements
6. Ageing Reports and Summaries
7. Preparation of Tax Statements
8. Maintenance of Assets and Liabilities books
9. Generating quarterly, monthly and yearly Cash Flow Statements

We use the latest accounting software tools such as:

1. QuickBooks®
2. Peachtree®
3. Quicken®
4. Creative Solutions Accounting®
5. Master Builder®
6. Microsoft Dynamics®
7. Oracle Financials 11i®

See the complete list of bookkeeping and accounting software that we use at Outsource2india.

Bookkeeping processes at Outsource2india

Based on the nature of a bookkeeping project and your preference you can choose from among three processes that we employ for our banking services:

1. Server Based Bookkeeping

In this process you can scan and upload your documents to a secure FTP server. Once this is done we will download the documents, update your books and then re-upload them back to the server. You can also e-mail us the documents which upon updating can be either e-mailed back to you or uploaded to a FTP server.

2. Remote access bookkeeping

You can also grant us remote access or VPN (Virtual private network) access to your computer or to a server that you choose. We can work directly on your machines without you worrying about the security of the data.

3. Application Service Provider (ASP) Bookkeeping

If you use an online accounting software service such as Quickbooksonline.com, then you can either e-mail or upload the documents that need to be updated. We will login through to the online accounting software and update the books. Once completed, we will contact you and you can login to the application to check the status.

Why should your bank outsource bookkeeping?

Additional banking services by Outsource2india

Apart from bookkeeping services, we also provide a range of banking services covering specific business areas like:

1. Credit card and loan processing
2. Payroll processing
3. Mortgage processing
4. Securities processing
5. Check collections
6. Accounts analysis
7. Check imaging and conversion
8. Payment verification
9. Financial Analysis
10. Tax preparation

Outsource2india – your bookkeeping services and banking services partner

Outsource2india understands that your needs are unique and immediate. We have always emphasized on understanding your business objectives as much as your project requirements. This has allowed us to build long standing relationships with our customers. Some more reasons why we can be your partner in bookkeeping services & financial services:

• Faster closure of books every time – means you can invest this time in strategic tasks such as growing customer relationships
• Specific operational focus on US based banking and financial institutions
• We are proficient with the bookkeeping standards of different countries and can meet your exact needs
• We can offer other lateral financial services – you can save on finding multiple vendors if you decide to outsource more than one service
• Our banking services support team is made up of highly skilled professionals with experience in handling bookkeeping for banks
• Open and short channels of communication – lets you to quickly and clearly exchange information among people involved in a project
• Reduced operating and administrative costs

Contact us now to outsource bookkeeping services

Financial Services

Cost-effective services for businesses/ CPAs / Accounting Firms

• Expertise in bookkeeping, tax & payroll software
• Competitive pricing that can help you save 50% on costs
• Accounting & bookkeeping completed at a fast pace
• Benefit from error-free books

O2I’s Financial Services

Accounting and Finance Services: Outsource Write-Up, Bookkeeping Services , Accounts Payable, Accounts Receivable, Financial Reporting and Accounts Reconciliation services to O2I for proficient and cost-effective services.

Tax Preparation Services: Outsource Tax Return Processing and Tax Preparation services to O2I and benefit from maximized efficiency and profits. Give your business a competitive edge with our efficient services.

Financial Analysis Services: Outsource Financial Analysis services to O2I for accurate, reliable and competent services delivered within a fast turnaround time. Improve the financial health of your organization with our professional services.

Payroll Processing Services: Outsource Payroll Processing services to O2I to reduce your operational costs by 40-50%. Relieve your organization from mundane administrative tasks. Outsource to O2I and concentrate more on your core business.

Insurance Services: Outsource Life Insurance, Property and Casualty, Annuity Insurance, Insurance Policy Administration, Insurance Agency Management, Insurance Claims Administration and Insurance Data services for increased profits.

Outsourcing to India: Discover Why India is an ideal place to outsource to, Read more on Why Outsourcing has become necessary and find out more on What services can be outsourced to India.