Accounting Outsourcing Services

OHI Advantages

British Columbia, Alberta, Ontario, Quebec, Prince Edward Island and More

500+ Staff with average 6 years of experience. Accountants at every level specialized in handling multiple type of accounting activities

Served 300+ Small and Mid Size Businesses in North America with an annual revenue from USD 1m to 500m

Our Clients

Clients Across Canada

Experienced Team

Our Services

Accounts Payable

• Creation of purchase orders (POs)
  
• Entry of invoices including 2/3 way matching with POs and packing slips
• Disbursements processing - entering checks, ACHs and transfers
  
• Accounts payable reports including aging report
  
• Set-up of vendors in accounting system with proper documentation
• Vendor coordination and query resolution
  
• Vendor compliance tracking - insurance certification, lien waivers etc.
  
• Vendor reconciliations
  
• Miscellaneous accounts payable tasks

Accounts Receivable

• Creation of sales orders
  
• Billing services: creation of sales Invoices including itemized invoices, time-sheet based invoices, construction draw invoices etc.
  
• Customer receipts processing/cash application services
  
• Aging of receivables and receivables tracking
  
• Set-up of customers in accounting system with proper documentation
  
• Email based collection support
  
• Miscellaneous accounts receivable tasks

Reconciliations

• Bank account reconciliations
  
• Credit card reconciliations
  
• Mortgage account reconciliations
  
• Escrow account reconciliations
  
• Line of credit account reconciliations
  
• Merchant account reconciliations
  
• Inter-company reconciliations
  
• Petty cash reconciliations

General Accounting

• General ledger maintenance
  
• Monthly accruals of recurring expenses and utilities
  
• Prepaid amortizations
  
• Maintaining month end closing schedules
  
• Monthly review of select balance sheet accounts
  
• Preparation and filing of sales tax and franchise tax returns

• Process payroll based on time sheets, Year-end T4s and T4 summaries
  
• Updated employee records and legal regulation
  
• Keep record of cash required before payroll processing

• Periodic physical inventory to books inventory reconciliation
  
• Set-up and maintenance of inventory item list in accounting system
  
• Tracking of inventory losses and inventory control
  
• Clean-up of inventory lists by inactivating items, removing duplicate items etc.

Payroll Processing Services

Inventory

• Employee list/database management
  
• Scrutinizing and validating invoices against existing T&E policies
  
• Processing of T&E claims as per documented procedure
  
• Travel and expense accounting including entry of travel and expense bills, mileage accounting, employee reimbursements

• Updated fixed asset register with new asset additions, dispositions and write-offs
  
• Reconcile fixed asset and other associated sub-ledgers to general ledger
  
• Calculation of depreciation based on different depreciation rates and methods
  
• Preparation of journal entries such as - expensing of fixed assets, depreciation entries, asset purchase/sale and write-off of old or fully depreciated assets
  
• Accounting for sale/disposal of assets

Travel and Expense (T&E) Management

Fixed Asset Maintenance

• Balance sheet
  
• Income statement
  
• Cash flow statement
  
• Inventory reporting
  
• Monthly financial analysis of income statements
  
• Expense reports
  
• Custom reporting

• Simple to complex business plan formulation
  
• Preparation of monthly, quarterly and annual forecasts of key financial parameters
  
• Financial analysis like ratio analysis, break-even analysis, NPV and IRR analysis
  
• Customer profitability analysis
  
• Sensitivity analysis
  
• Sales product mix analysis

Financial Modeling and Analysis

Financial Reporting

• Financial dashboards
  
• Sales dashboards
  
• Detailed expense trend dashboards
  
• Portfolio dashboards
  
• Operational dashboards customized to industry requirements

• Detailed operating budgets covering projected revenues and budgeted expenses
  
• Departmental level budgets/divisional budgets such as marketing budgets, sales budgets
  
• Cash-flow budgets at company/ departmental/locational levels using a variety of methodologies

Management Dashboards

Budgeting

Other Services

• HST, GST and PST - Reconciliation and HST/GST/PST Filings
  
• Accounting software transition including set-up of lists (customer, vendor, employee, inventory etc.), chart of accounts and transactions

Industries Served

General Contractors

IT Firms

Restaurants

Hotels

Manufacturing

Software Expertise

We have high expertise across multiple accounting software used in USA. Our team can get trained in a custom ERP/software or any other software with minimal learning curve due to our experience working in multiple national/international accounting packages.

Outsourcing Center

Real case studies covering small medium size businesses in Canada and USA

Covers benefits work-flows, technology, transition time-frames and more

Technology involved in outsource accounting and bookkeeping services

Accounts Payable

Accounts Receivable

Bank Reconciliation

Month end Closing

Cost savings compared with existing onshore operations

Services, team, industry experience and more

Case Studies

Outsourcing Guide

Cost Comparison

Process Snapshots

Brochure

Technology

Learn more about our accounting outsourcing services for small medium businesses

Pricing

The indicative standard charges for junior and senior accountant roles are listed below.

Custom packages of 25, 50 and 80 hours per month are available

Turnaround time: 1 business day

FULL TIME
JUNIOR ACCOUNTANT

CAD 2400

Accounts payable processing

Bank and credit card reconciliation

General ledger maintenance

Full-time staffing (160 hours per month)

Turnaround time: 1 business day

FULL TIME
STAFF ACCOUNTANT

CAD 3400

All junior accountant activities plus

Month end closing

Financial reporting and analysis

Full-time staffing (160 hours per month)

Note

The above charges are indicative charges for standard services to be performed by the particular role on a full-time basis (160 hours per month). A final quote will depend on the work-volume, activities required and the working hours. Part-time and flat fee quotes are also available

List of Popular Outsourcing Accounting Roles

Accounts Receivable Specialist

Accounts Payable Specialist

Junior Accountant

Staff Accountant

Assistant Controller

Financial Analyst

1

2

3

Ready to Outsource. What Next?

Identify

Identify the accounting activities you would like to outsource

Select

Identify and select the right accounting outsourcing service provider

Pilot Phase

Begin with a pilot phase to test and check the services

4

Ongoing Process

Post completion of pilot phase, expand the process to a full ongoing scale

Outsourcing Roadmap

Typical Outsourcing Scale-Up Roadmap for a Mid-Size Company

Pilot Phase (1st Month)

The first month of service is used to initially explore mutual working and test the effectiveness of our services, fine-tune the process, establish a working relationship, determine service level parameters and gradually scale up the activities done from India.

2-3 Months

Accounts payable- entry of invoices and utilities, check/ACH processing, debit card/CC transactions and miscellaneous activities such as vendor set-up, funding petty cash etc.

4-6 Months

Accounts receivable and cash application services- accounting in AR, aging of receivables, email based collection support, receipting/cash application services and miscellaneous accounts receivable tasks.

7-9 Months

General accounting- bank, credit card, mortgage and insurance escrow reconciliations, general ledger maintenance, month end closing, monthly and quarterly financial reporting for management.

10-12 Months

Dashboard reporting- user friendly and easily readable management dashboards tracking key operating and financial parameters.

Note

* Mid-Size Companies are defined as companies with accounting departments of size 8-10 staff members

Our Clients

A rapidly growing real estate firm based out of Ontario, Canada. They specialize in single and multifamily residential rental properties.

Industry | Real Estate

A well-known construction and development company in Canada specializing in construction and development of high rise concretes. It is a mid-sized firm and one of British Columbia’s most experienced and respected developers.

Industry | Construction

A large CA firm based in Ontario, Canada. The firm specializes in providing accounting and taxation services to real estate firms.

Industry | CA Firm

The company is in the business of selling and moving fuel. They provide best in class fuel supply management and transportation. The firm manages and transports over 2 billion liters of fuel per year to over 350 fueling stations.

Industry | Transportation

A mid-size Real Estate Developer with operations in British Columbia, Alberta, Washington and California, They builds amenity-rich residential and mixed-use communities.

Industry | Real Estate

Operating from three offices, the firm services Canada’s construction industry. There capabilities are, but not limited to; Construction Management, Design-Build, Energy Retrofits, Design-Bid, Real Estate Advisory and Tenant Improvements

Industry | Construction

Based in Vancouver, BC a trusted Nutrition Retailer with over 40 years in business. They offer guidance on all natural health product needs.

Industry | Healthcare

A fast growing mid size retail chain based in Toronto, Canada. This chain has about 15 franchisees across Canada.A fast growing mid size retail chain based in Toronto, Canada. This chain has about 15 franchisees across Canada.

Industry | Retail

An outsourced accounting service provider with the right technology and a dedicated team of accountants can serve your business during this pandemic.

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Interested in Learning More

Contact us for a NO OBLIGATION customized cost benefit analysis of outsourcing opportunities in your organization.

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