Why Outsource Bookkeeping to the Philippines? Benefits, Top Providers, and Alternatives

Few areas of business demand the attention to detail and sheer hours that bookkeeping does. If you're like many business owners who prefer to focus on growth rather than balance sheets, you’ve probably considered outsourcing to someone who lives and breathes numbers. 

So, where’s the best place to hire a bookkeeper? Many companies turn to bookkeeping services in the Philippines due to its highly skilled workforce, cost-effective rates, and strong grasp of US accounting standards.

This article explores why companies choose the Philippines for bookkeeping as well as the costs involved and the top service providers. We’ll also look at Latin America (LatAm) as a strong alternative and explore which region offers the better bookkeeping services options for your business needs.

Why Businesses Choose the Philippines for Bookkeeping Services

Outsourcing bookkeeping services to the Philippines provides a compelling mix of affordability, expertise, and alignment with global financial standards. 

Below, you can see why businesses continue to choose the Philippines as a top outsourcing destination.

1. Cost-effectiveness without compromising quality

Outsourcing bookkeeping services to the Philippines helps businesses cut costs while maintaining quality. Salaries are lower due to the lower cost of living, making it possible to hire skilled professionals at a fraction of US rates.

Despite the rise of AI in bookkeeping, the Philippine outsourcing sector is projected to grow by 7%, driven by increasing demand for human expertise in financial management. 

Companies continue to rely on experienced bookkeepers for compliance, tax regulations, and financial reporting, making outsourcing a cost-efficient yet reliable solution.

2. High English proficiency for seamless communication

With an English proficiency score of 578, the Philippines ranks comparably to Eastern European countries like Poland and outperforms India and Malaysia. This makes it easier for US businesses to communicate effectively with offshore bookkeeping teams.

3. Strong alignment with US accounting standards

Filipino bookkeepers and accountants are well versed in international accounting standards. Additionally, as of 2024, the US CPA exam is offered in the Philippines, making it easier to verify the qualifications of Filipino bookkeepers and accountants and their familiarity with US tax laws and compliance requirements. This means they can handle financial reporting for US businesses with confidence.

4. Government support for digital bookkeeping

The Philippine government actively promotes digital finance, fostering an environment where bookkeepers are highly skilled in modern accounting tools. The Bangko Sentral ng Pilipinas (BSP) launched the Digital Payments Transformation Roadmap (2020-2023) to accelerate the adoption of cloud-based financial systems and accounting software.

As a result, Filipino bookkeepers are well versed in bookkeeping and cloud accounting software such as QuickBooks, Xero, and NetSuite, making them a strong choice for businesses seeking remote-friendly, cloud-based bookkeeping without the need to provide extensive training. 

5. Outsourcing-friendly business environment

The Philippine government actively supports the outsourcing sector, including bookkeeping, through incentives from the Philippine Economic Zone Authority (PEZA) and the Board of Investments (BOI). 

Policies like these have earned the Philippines a rank of 95 on the Ease of Doing Business (EODB) scale and have streamlined processes that make it easier to acquire Filipino talent.

For companies looking to hire offshore bookkeeping talent, these advantages make the Philippines a strong contender. However, businesses should evaluate their specific needs and long-term outsourcing strategy to get the right fit.

Understanding the Cost of Outsourcing Bookkeepers in the Philippines

One of the biggest reasons US-based businesses turn to bookkeeping services in the Philippines is the significant cost savings compared to hiring in-house. 

According to Salary Expert and PH.Talent.com, the average salary for a Filipino bookkeeper is ₱420,000 ($7,231) per year or ₱168 ($2.89) per hour. 

Entry-level bookkeepers start at ₱330,000 ($5,674) per year, while experienced professionals can earn an annual salary of up to ₱694,500 ($11,941).

In contrast, Salary.com reports that in-house US bookkeepers earn an average of $45,065 per year, with top earners making $54,937 annually. This means companies can cut labor costs by 50–80% by outsourcing to the Philippines, all without sacrificing quality.

Beyond wages, outsourcing reduces other overhead costs tied to in-house employees, such as office space, benefits, and payroll taxes. However, businesses should account for additional expenses like software subscriptions, training, and compliance requirements to maintain a smooth offshore hiring process.

Top Bookkeeping Service Providers in the Philippines

Given the country’s economic growth and government incentives for outsourcing in the Philippines, businesses can gain access to a wide range of bookkeeping providers in that country.

The companies listed below have been included based on their expertise, affordability, service offerings, and reputation in the industry.

1. D&V Philippines

D&V Philippines provides comprehensive bookkeeping and management accounting services catering to small businesses, accounting firms, and large corporations. 

It specializes in accounts payable and receivable processing, financial reporting, tax preparation, and payroll management. Automation plays a key role in its approach, which means that financial transactions are fast and accurate while manual bookkeeping errors are minimized. 

The firm also offers bank reconciliation services to prevent discrepancies and streamline cash flow management. D&V’s wide range of bookkeeping services are customizable, allowing businesses to scale financial operations without long-term commitments.

2. FilePino

FilePino offers full-service bookkeeping and accounting tailored to businesses of all sizes. A certified public accountant (CPA) is assigned to each client, ensuring compliance with local and international financial regulations. 

The company provides ledger maintenance, financial statement preparation, tax return filing, and business registration support. FilePino also emphasizes regulatory compliance and audit readiness, helping businesses avoid penalties and maintain accurate financial records. 

Its bookkeeping services integrate financial analysis, tax audits, and forecasting for companies needing a comprehensive financial management solution.

3. MCVO Talent Outsourcing

MCVO Talent specializes in offshore bookkeeping and accounting services, offering full-time and fractional bookkeepers starting at 5 hours per week. 

Its professionals handle bank reconciliations, payroll, accounts payable and receivable, sales tax preparation, and monthly financial reports. The company stands out for its concierge-level service, where a supervisor attends recorded training sessions during onboarding to make sure that bookkeepers align with client expectations. 

MCVO also prioritizes data security, equipping staff with industry-best cybersecurity measures to protect sensitive financial data.

4. Flatworld Solutions

Flatworld Solutions is a global bookkeeping provider with a dedicated delivery center in the Philippines. It offers comprehensive bookkeeping services, including accounts payable and receivable management, general ledger maintenance, cash flow reporting, and trial balance preparation. 

Its team is proficient in QuickBooks, Xero, and NetSuite, ensuring seamless integration with existing accounting systems. 

Flatworld also provides tax advisory services and VAT returns processing, making it an ideal provider for businesses seeking an all-in-one bookkeeping and tax compliance service.

5. Innovature BPO

Innovature BPO offers bookkeeping, financial reporting, tax compliance, and payroll processing services, with expertise in IFRS and GAAP accounting standards. 

It has a team of over 100 professionals, with a majority at the senior level and who can handle a range of financial management and bookkeeping tasks. The company also provides financial analysis and budgeting support, assisting businesses in organizing and interpreting their financial data. 

Innovature BPO works with companies of different sizes, offering bookkeeping services that align with international accounting practices.

Where Else Can You Find Top Bookkeeping Talent? The Best Alternative to the Philippines

While the Philippines remains a top country for outsourced bookkeeping, Latin America is gaining traction as a strong alternative. 

Businesses looking for closer time zone alignment, cultural compatibility, and skilled financial professionals are increasingly turning to LatAm for bookkeeping services. 

The region offers competitive rates and highly trained bookkeepers and accountants with a deep understanding of US financial regulations.

Top countries in LatAm for bookkeeping outsourcing

• Argentina: A well-established financial services sector with highly trained accountants. Strong cultural alignment with US businesses makes communication and collaboration easier, while a cloud-first policy and reliable internet infrastructure maintain stable remote operations.
• Mexico: One of the most cost-effective options, with shared time zones allowing for real-time collaboration. The North American Free Trade Agreement (NAFTA) protects intellectual property rights, promoting financial data security.
• Colombia: A country with a growing outsourcing sector with bilingual bookkeeping talent. The country mandates GAAP compliance, meaning bookkeepers are well versed in US accounting standards.
• Brazil: A large talent pool with expertise in international financial regulations. Overlapping time zones and a strong education system make it ideal for scalable bookkeeping solutions.

Top 4 Recruitment Agencies for Hiring Bookkeeping Experts in LatAm

The following companies specialize in connecting businesses with top professionals across Latin America, including offshore bookkeepers. Each agency provides recruitment, vetting, and compliance support, helping businesses build reliable, skilled bookkeeping teams efficiently.

These agencies aren’t listed in any particular order but were selected for their expertise in finding bookkeeping talent in LatAm.

1. Near

We’re up first, and for good reason. Finding bookkeeping talent in LatAm is one of our specialties. At Near, we don’t just match businesses with skilled professionals; we make sure that your business has the right cultural and operational fit. 

Our approach goes beyond resumes. We take the time to understand a company’s unique needs, ensuring a seamless hiring process. 

Whether you need part-time, full-time, or project-based bookkeeping support, we can connect you with pre-vetted professionals ready to integrate into your team.

2. H&CO

H&CO specializes in outsourced accounting and tax services across Latin America, with offices in the US, Argentina, Brazil, Chile, Colombia, Costa Rica, and El Salvador. 

It focuses on international bookkeeping, tax compliance, and financial reporting, making it ideal for companies with cross-border operations. 

Services include bookkeeping oversight, preparation of statutory accounts, and year-end tax filings. Its expertise in LatAm tax legislation means that businesses using their services remain compliant with regional financial regulations.

3. LatamCent

LatamCent helps companies hire pre-vetted bookkeepers across Latin America in 21 days or less. It offers access to a large candidate network, allowing businesses to hire junior, mid-level, and senior bookkeepers based on experience and industry needs, all at a cost savings compared to US salaries.

The company also handles legal compliance and payroll for clients. With experienced English-speaking bookkeepers, communication is clear and the hiring process is smooth. 

4. Intugo

Intugo operates in Mexico and provides nearshore recruitment for bookkeeping and finance roles. Unlike traditional outsourcing, it allows companies to directly manage their teams, while Intugo handles HR, payroll, compliance, and infrastructure. 

Mexico’s large accounting workforce and strong CPA pipeline make it an excellent alternative for hiring finance professionals. 

Intugo’s customized recruitment process allows businesses to select candidates who fit their operational needs, with support for roles like bookkeeping, payroll processing, and financial analysis.

Final Thoughts

The Philippines is a reliable option for outsourced bookkeeping, with affordable rates and professionals skilled in US accounting standards. However, Latin America is a great destination for businesses that need better time zone alignment and cultural compatibility along with experienced bookkeepers and competitive rates.

The best choice depends on what works for your business structure and workflow. If you’re looking for a bookkeeping team that integrates seamlessly into your operations, Near makes hiring top LatAm talent simple and efficient.

Check out this guide to offshore bookkeeping to find out how you can get started today.