Madhu Jain Explains How Cloud Based Online Accounting Applications Have Been Influencing The Outsourcing Of Bookkeeping Functions
Madhu Jain, the co-founder of BookkeepingMonster.com, explains why online applications such as XERO, Quickbooks Online and Freshbooks have been having an increasing impact on the outsourcing of bookkeeping processes.
Almost all small businesses need to cater to a number of responsibilities and face numerous challenges just to remain afloat and compete. Bookkeeping and accounting are two processes that are not only time consuming, but tedious as well. Moreover, the ever increasing salaries have literally made it impossible for smaller businesses to be able to afford full time accountants and bookkeepers.
According to Madhu Jain, the co-founder of BookkeepingMonster.com, an alternate and feasible solution is now available. Madhu states that “small businesses can greatly reduce their financial burden and free up valuable manpower by using online softwares including Quickbooks Online; XERO; MYOB Live and outsourcing their bookkeeping functions.
When asked about how exactly these online functions help small businesses, Madhu said “most of these online accounting applications are extremely user friendly and secure”.
She also talks about the various functions that these online accounting software can cater to. “Instead of burdening themselves with paperwork, small businesses now have an option to use online accounting softwares in order to manage their payroll registers, cash flow statements and invoicing.
BookkeepingMoster.com is a Silver partner for XERO and Madhu believes that this has been immensely beneficial to the popular bookkeeping service provider as well as its clients.
When it comes to online bookkeeping applications, the benefits don’t just end there. By choosing online accounting software, small businesses can improve on accuracy in bookkeeping and induce savings as well. The use of such software eliminates the need of hiring dedicated accountants and also helps in saving costs in terms of system tools and upgrades.
Furthermore, online accounting software helps to make things even more productive for a small business as they make things more efficient than filling out paperwork since most of the work is already done.
We also asked Madhu about how the growth of online accounting software has hampered the growth of bookkeeping outsourcing services.
“In fact, the result has been quite the opposite. We have seen an increase in the number of small businesses opening themselves up to outsourced bookkeeping as well as online accounting software”.
Madhu believes that by combining both, small businesses manage to make things extremely efficient and free up valuable resources, costs and man hours that were normally spent in the bookkeeping process.
About Bookkeeping Monster –
Bookkeeping Monster was started in the year 2001 as a bookkeeping outsourcing service that allowed small businesses and startups to outsource their accounting process in order to concentrate on their core activities. In the year 2004, Bookkeeping Monster started diversifying and expanding their services to other countries as well. Today, the popular bookkeeping outsourcing service boasts of having numerous clients in Australia, Europe, United Kingdom, Singapore and the United States of America.
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- Madhu Jain
- Bookkeeping Monster
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