How OHI simplifies remote accounting

Accounting is an important support function for any business. Traditionally, businesses have always had an accounting department, which ensures that the books are updated every month and that the company is in great fiscal shape.

Technology is shifting this reality. Today, it’s possible to automate a whole range of repetitive accounting tasks, which results in time, effort, and cost savings.

The result is that remote accounting has become a worldwide reality, and businesses are just waking up to the benefits of its advantages. 

What Exactly is Remote Accounting?

Remote accounting, also referred to as online accounting, is simply put, accounting managed via the cloud.

Companies can now outsource their accounting needs to a remote accountant, who leverages remote accounting software to remotely manage the accounting function, end-to-end.

No matter where your company is based, you can rely on your accounting partner to get the job done.

Common Challenges Faced by Businesses

Here are some of the common problems faced by most businesses in their accounting processes:

• Support functions such as accounting eat into profits. This is because there are labour, space, and utility costs to having a dedicated in-house accounting department. The process of hiring and retaining an accounting team also comes at a cost
• Another aspect is that regulations and technology keep evolving, and in-house teams need to access training to stay up-to-date
• Yet another challenge is that businesses get so focused on support functions that it takes their focus away from their core business

How OHI Simplifies Remote Accounting

Remoting accounting facilitated by OHI comes with multiple advantages as follows: 

• Accounting spans a wide range of activities, including payroll, account reconciliation, filing tax returns, paying bills, and financial reporting, among others. OHI provides the full spectrum of services under one roof
• Our accountants are savvy in all the latest software, including QuickBooks, Xero, NetSuite, Yardi, Sage, Microsoft Dynamics, AppFolio, SAP, and Oracle ERP packages
• With regulations continuously evolving, our remote accounting teams continuously stay up-to-date on the latest rules and adapt to them quickly
• Our remote accounting teams are always aligned with the business outcomes of a company and ensure that their work is optimized to help the business stay profitable
• Virtual accounting with OHI is cost-effective; the cost savings can be reinvested back into the business

Get a Superior Accounting Experience

Outsourcing accounting needs to OHI means businesses can access accounting support 24/7.

The accounting function is no longer dependent on the availability of one or two individuals. The needs of the business come first, and we follow a structured reporting approach that comes with transparency, high accountability, and access to reports at any given time.

Business owners can access their reports from anywhere via a click on their smartphones. This provides a framework for making quick, smart decisions. 

The Takeaway

Remote accounting offers businesses the flexibility to invest in their accounting needs based on real-time needs that relate to their business agenda. They can scale up and scale down anytime.

Partnering with a superior platform like OHI offering virtual accounting services helps businesses streamline their in-house operations and prioritize their focus on their core business.

This builds a foundation for helping businesses become more sustainable and profitable in the long term.   

About Us

OHI is a specialized finance and accounting outsourcing service provider with over fifteen years of finance and accounting outsourcing experience. We have strong functional outsourcing expertise in end to end accounting processes covering daily accounting activities, reconciliations, month end and year-end account finalization processes, employee reimbursements, payroll processing, management reporting and financial analysis.

OHI serves close to 300+ clients across USA, UK and Canada. We invite you to experience finance and accounting outsourcing through us.

Learn More About Our Accounting Outsourcing Services – CONTACT US