Did you know that many of businesses in Australia are now outsourcing their bookkeeping service to overseas facilities and employing overseas residents to perform their bookkeeping without you even knowing?

It is a growing area of business that people want lower costs and want to spend the money on more proactive, growing your business kind of advice than simple bookkeeping and compliance. Therefore, in an industry already struggling to provide such low costs with their ongoing expenditure and rising bookkeeping hourly rates in Australia, many accounting and professional services are looking to source bookkeeping services overseas. They can then benefit from the cheaper labour and costs, therefore, being able to better service their clients’ needs in the more $$$ expensive and valued services.

These people are usually trained in Australian tax law and have likely completed their degree over here. Quality control would be dependent upon the organisation involved but the big four accountancy firms are using these facilities more and more, and other accounting firms are starting to take up this trend.
What would be your opinion if it happened to your data? Are they taking our bookkeepers’ jobs away, is it worth it to get a cost cut, is it making data insecure, is it freeing up time for the accountants to provide more important advice? What gets outsourced next, Small Business Entities who don’t make the accounting firm much money?

Your opinion is important to us, so rest assured that we would never make a decision without you having your say first. But it is food for thought.