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If you have decided and are firm to move forward, here is a checklist of what can be outsourced. Generally any work in Accounting and Finance department could be an excellent candidate for outsource that has the features like:

Repetitive in nature
Have a pre-set rules to follow
Analytical and number crunching
Transactions processing that does not require ongoing interaction with the clients
Research
And the list goes on ……

The above items are some of the key features that have been mentioned. But depending on the willingness of both the parties, many other things can be added as well.

In reference to the Accounting and Finance industries, following can be outsourced

Accounts Receivable

Accounts Payable

	Bank advice clearance
	Client billing
	Suspense clearance
	Encoding errors
	Client settlement
	Analysis

	Cash application and allocation
	Credit balance refunds
	Payment research
	Third-party settlement
	Bookkeeping
	Journal entries
	Cash and bank payment entries
	Credit card accounting entries
	Statutory dues

Reporting and Analysis

Accounts Reconciliation

	Management Reporting
	Financial statement analysis
	Statutory Reporting
	Bank and lending Institution Compliance

	Bank
	General ledger
	Third-party settlement
	Assets and liabilities
	Payroll Processing
	General ledger posting report
	Quarterly local tax return
	Quarterly state unemployment tax
	Return
	Next day processing
	Form 941 federal tax return
	W-2 forms for all employees
	W-2 state withholding recap
	W-3 federal withholding recap
	Year-end local tax reconciliation
	Form 940 federal unemployment tax return
	Employees Benefit Administration

Financial Analysis

	Accounts Receivable
	Accounts Payable
	Past Expenses
	Tax Payment
	Income Tax
	Sales Tax
	Payroll Tax
	Property Tax

Click here to know how XpFinance can assist you in the above services.