Planning to start accounting outsourcing? The Philippines is an ideal location, whether you’re an accounting firm looking to grow your team, or a company with an in-house finance team that needs some additional accounting support.
The Philippines has more than 175,000 Certified Public Accounts (CPAs), and nearly 8,000 more join the workforce every year, after graduating from university and passing their board exams. Plus, in addition to CPAs, the Philippines is home to at least as many non-CPA accountants.
The accountant talent pool is highly-employable as both CPAs and fresh graduates have extensive experience from working with accounting firms. In other words, they are agile, and experienced in what they do.
All MicroSourcing accountants are university graduates and highly proficient in spoken and written English. Their experience varies as follows:
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Want an accountant – or a team of accountants – outsourced in the Philippines?
- Junior – Junior accountants in the Philippines are typically new graduates with a relevant degree and up to 11 months of relevant working experience.
- Intermediate – A typical intermediate accountant in the Philippines has 1-3 years of relevant experience.
- Senior – Most senior accountants in the Philippines have 3+ years of relevant experience.
All accountants are fully qualified and experienced in:
Most intermediate and senior accountants in the Philippines have worked with accounting firms where they’re expected to work with clients from a wide range of industries all at once. So they have to be fast learners and hard workers.
You can even employ senior accountants with a specialist understanding of your local taxation laws (e.g. US or Australian tax law).
Filipino accountants stay in their role for an average of 5 years.
Accountants in the Philippines typically have extensive experience in the leading accounting tools, including:
Save up to 70% on labor and occupancy costs
Because living costs are so low in the Philippines, labor and occupancy costs are too. We can employ and accommodate fully qualified, very experienced CPAs for your team in the Philippines for up to 70% less than you’d pay in your local employment market.
Tips for employing Filipino accountants
- It typically takes 6-8 weeks to recruit an accountant when outsourcing in the Philippines. The more experience you require, the longer it takes.
- Employ the best person for the role, not the cheapest. That may seem like obvious advice, but because talent is so inexpensive in the Philippines, some clients are tempted to seek out the lowest possible salary, in the mistaken belief that this will maximize their margin. The truth is, that just as when you employ at home, it’s a balance between cost and return, and cheapest rarely delivers the best ROI. But don’t worry; no matter what level of experience you’re after, you’ll find Filipino candidates who possess it for a fraction of the annual salary of their onshore counterparts. So you have the luxury of choosing very qualified accountants for a price that wouldn’t even get you a junior back at home.
- If you’re after someone with experience in your local tax laws, be prepared to wait a bit longer, and pay a bit more. If you need this specific expertise, you may be better off – at least initially – hiring junior and intermediate accountants in the Philippines and getting a local senior accountant to train them up.
- When employing outsourced teams of accountants, most of our clients structure the team as follows: senior team leader, one or more intermediates and one or more juniors. Their senior offshore accountant is typically supported by a senior onshore accountant.
Sample accountant profiles
- Advanced SAP knowledge and Xero knowledge
- End to end bookkeeping skills
- Competent in using QuickBooks, MS-DOS/FOXPRO, Envoy V5, SAP, Al-Ameen, Oracle
- Tax reporting and inventory processing
- Collecting and analyzing data
- Intermediate Accountant
- General Accounting Operations Associate
- Senior Officer – Accounting & Finance
- Advanced knowledge in preparing financial reports
- Able to perform in-depth financial analysis and generate management, budget and tax reports
- Reconciling sub-ledger to general ledger account balances
- Assessing internal controls, including risk assessments and reviews of risk areas
- Senior Accountant
- Senior Billing Staff
- Accounting Supervisor (AR PowerUser)
Interested in recruiting team(s) in the Philippines?
Since our inception in 2006, MicroSourcing has become one of the biggest providers of offshoring solutions in the Philippines. We can help you build a dedicated team in the Philippines, regardless of the roles and level of specialization you require. MicroSourcing is 100% owned by the Probe CX, one of Australia’s fastest growing offshoring solution and customer engagement firms. So, it’s safe to say we’re experts in outsourcing to the Philippines.
Call +1 888-731-0023 today or send us an email to discuss your company’s offshoring needs.