If you want to start Outsourcing Practice as a Freelancer from India to remote clients across Globe, the first step is to learn cloud Accounting Software widely used by clients.
With the rise of Cloud Accounting Software, small and medium businesses tend to outsource Accounting to remote Freelancers for better prices and professional services in developing countries like India.
The great news is that each of the widely used Cloud Accounting Software below provides training to Accountants and certificates for passing online exams. Furthermore, the certifications and training are free of cost and online.
Here are five widely used Cloud Accounting software you should consider learning to equip yourself to provide services remotely.
Quickbooks Online, shortly known as QBO (not Quickbooks Desktop), is the number one cloud accounting software widely used by small-medium USA Clients. QBO has the most profound ProAdvisor Program for Accountants, providing training and Certification. The ProAdvisor program not only enables you to learn the QBO cloud accounting software but also prepares you to become an Advisor to go beyond general accounting services.
Please don’t confuse it with the discontinuation of Quickbooks in India. Quickbooks Online from Intuit has country-wise operations and accounting packages. Intuit has only discontinued the Indian version of Quickbooks. You can still optin for Quickbooks Online on the USA website from India.
Once you enroll as Quickbooks Online ProAdvisor, it allows you to get special pricing for your clients. Also, you can build your team to delegate client tasks and track your work across clients in Quickbooks Online Accountant.
The most powerful feature of QBO is third-party app integration to automate client workflow. For example, an Amazon FBA client can automate his sales workflow using one of the intuit approved third-party apps.
Clients from the USA, Canada, UK, and Australia widely use Quickbooks Online as those countries’ versions meet specific regions’ tax regimes. Versions of Quickbooks Online are available in other countries/regions, but they might not support different regions’ unique tax calculation needs.
Small service providers mainly prefer Freshbooks due to its simplicity, ease of setup, and use. In addition, the design and interface of Freshbgooks are simple to understand for a non-accountant background compared to Quickbooks Online, which has broader features.
Freshbooks too has a Partner program in which you can sign up and get training, Certification and list yourself on their Directory. You will also get a referral bonus when you bring new clients to Freshbooks.
Clients from Canada, USA, and Britain widely use Freshbooks because country-specific tax calculations are available in those regions.
Xero is another widely used Accounting Software by small businesses across Globe. The primary user base of Xero is in Australia, New Zealand, and Europe. Features of Xero are similar to Quickbooks Online, like Automated Bank Feed and Third-party Apps to automate tasks, etc.
It has a Partner program for Bookkeepers and Accountants that provides Free Subscriptions and Discounts, Marketing and Learning Resources, and Advisor Tools. Being a cloud-based Accounting software, it also allows collaboration with your team and client on Xero Dashboard.
Xero is popular among startups across Globe compared to Quickbooks Online.
Zoho Books is an upcoming Indian cloud-based Accounting Software. Small businesses across Globe are giving it a try because its Free version allows a certain number of transactions or up to a certain turnover. For example, Zoho Books in the USA has a Free version if you have 1000 invoices per annum or revenue <50K USD per annum. Most small businesses don’t exceed these transaction limits in a year, making accounting software forever free.
However, the Free version will not be able to fetch Bank Feed automatically. But if the transactions are minimal, it might not be so time-consuming to enter bank transactions with a Freelancer’s help manually.
You can register for Zoho Books consulting partner program, which mainly helps you get visible to clients looking for Zoho Books Accountants. Also, the program offers Zoho Books Premium Plan for free so that you can get a hands-on experience with the Accounting Software before you provide Freelancing services.
Sage has a wide variety of Accounting solutions for small and medium businesses. It also has Professional specific Accounting products. In addition, Sage provides a comprehensive suite of products under the Business Management and Payroll Categories.
Medium to large businesses opts for Sage as it has ERP capabilities. That’s why the number of clients outsourcing services in this area is less.
Sage University’s website provides free training and Certification for Accountants and Bookkeepers.
You should select and learn one of the above widely used Cloud Accounting Software based on your target regions and client size. Then, with the help of free training provided by each software, you can quickly learn the software’s interface for bookkeeping. The GAAP (Generally Accepted Accounting Principles) is the same in each country. Therefore, you don’t necessarily need to know about country-specific taxation to provide Accounting services.
The next crucial step is getting clients from Outside India to provide Bookkeeping Services in the Cloud Accounting software above. Sourcing Clients is the foremost hurdle that deters you from taking the first step in this Practice Area. Watch my FREE webinar on how to start Outsourcing Practice within 90 Days, even if you are starting from scratch with no experience, at https://www.smartcapractice.com/webinar33269112.
Also, find jobs related to Outsourcing Practice Area in CA Firms across India at https://www.smartcafirms.com/ca-jobs/
Share this article with your colleagues interested in diversifying to Outsourcing Practice.
Leave a Reply