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Accounting and Bookkeeping for Banking Industry

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

Bookkeeping is a tedious but a necessary process with any company or financial institution. Maintaining accounts of financial 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 - cutting down operational costs and saving time that can be invested in strategic functions.

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 Quickbooks, 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.

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’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.

Why should your bank outsource bookkeeping?

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 and finance & accounting 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 finance and accounting 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

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