How To Successfully Onboard Outsourced Accounting Professionals: Best Practices and Tips

Outsourcing accounting services has become increasingly popular among companies looking to increase the efficiency of their financial operations and reduce costs. 

However, onboarding an outsourced accounting professional or an entire team can be daunting for many employers, especially when done remotely. It requires careful planning and execution to ensure a smooth transition and successful collaboration with the new accounting team members. 

This article will discuss best practices and tips for successful outsourced accounting onboarding. These strategic insights will help you integrate your remote accountants seamlessly into your team. 

How To Choose the Right Outsourced Accounting Partner

The right outsourced accountant won’t just fall into your lap. You will need to find either a specialized accounting outsourcing provider or a recruitment agency with experience helping businesses hire talented financial professionals.

Here’s how to find the right partner:

1. Define your needs and requirements 

Before selecting an outsourced accounting partner, clearly define your needs and requirements. This will help you find a partner that meets your specific business goals and provides the necessary support.

2. Research and evaluate potential partners

Research and evaluate potential partners based on their experience, reputation, services offered, and pricing. Look for reviews and testimonials from other clients to get an idea of their track record and quality of work.

To get started, see our list of top finance and accounting providers.

3. Conduct interviews and reference checks 

Once you have narrowed down your options, conduct interviews with potential partners to get an in-depth understanding of their expertise and accounting approach. You can pick from our list of interview questions for remote accounting professionals to assess their experience and skill level.

Don’t forget to check references from previous clients to ensure their reliability and compatibility with your business.

4. Consider factors such as budget, location, and expertise 

Before making a final decision, consider factors such as budget, location, and expertise. Look for an outsourced accounting partner that can provide the right financial services at a competitive price and is located in a convenient time zone for seamless communication.

Why Is It Important to Onboard Outsourced Accounting Professionals?

Proper onboarding of outsourced accounting professionals is crucial for their success and yours. Here are some potential benefits of thorough, successful onboarding:

Ensures a seamless transition and integration into the team

Onboarding provides a structured process for the new outsourced financial professional to understand their role and responsibilities within the team. 

It helps them feel more comfortable and confident in their new position, leading to a smoother transition into your business.

Reduces misunderstandings and communication barriers

A thorough onboarding process establishes clear communication channels and reduces the chances of misunderstandings, leading to more seamless collaboration and better results.

Establishes clear expectations

Onboarding allows you to clearly define your expectations of outsourced accounting services. It helps freelancers or external accounting firms understand their role in the team, leading to a more efficient and productive working relationship.

Creates a positive working relationship between in-house and outsourced teams

A well-structured onboarding process can help foster a positive working relationship between your in-house team and your outsourced accounting professionals. Teamwork, trust, and open communication all improve collaboration and drive positive results.

Sets the foundation for long-term collaboration and success

Investing time and effort into a thorough onboarding process sets the foundation for a successful long-term partnership with your outsourced accounting professional. Studies have found that effective onboarding improves retention, time to productivity, and customer satisfaction. 

By creating a productive business relationship and eliminating the need to constantly recruit and train new hires, your business can enjoy a wide range of benefits, like cost savings, improved efficiency, and increased financial health and growth.

What To Do Before the Outsourced Accounting Onboarding Process

Before conducting the onboarding process, there are a few things you can do to prepare for the arrival of your outsourced accounting professional to your team:

Define the scope of work and deliverables

Clearly define the responsibilities and tasks that your outsourced accountant will be responsible for. Establish specific deadlines and deliverables to ensure a clear understanding of expectations. Communicate this information to your outsourced accountant before their start date to avoid confusion.

Agree on communication channels and frequency

Determine the preferred methods of communication with your outsourced accountant. Set expectations for how often you communicate and what information should be shared through each channel. 

Explain how these channels work and make sure they know how to set up and use key features, such as notifications and videoconferencing tools.

Set service-level agreements (SLAs)

Service-level agreements (SLAs) are contracts between you and your outsourced accounting professional defining the service level they will provide. These should include details such as:

• Response times
• Turnaround times
• Availability during business hours

Clearly outlining these expectations from the beginning can prevent any misunderstandings or delays in work. 

Clarify data security and confidentiality measures

Communicate your company’s data security and confidentiality policies to your outsourced accountant. This is especially important for remote international employee onboarding.

Make sure they understand the importance of protecting sensitive information, and provide them with any necessary tools or protocols to ensure secure communication and data storage. Consider signing a non-disclosure agreement (NDA) to formalize the protection of confidential information.

How To Successfully Manage the Onboarding Process

There are many different routes to successful onboarding. Creativity and personalization are critical to ensure the process is custom-built for your business.

But there are also some best practices and tips that can help you effectively navigate the process. 

Here are some strategies to consider for outsourced accounting onboarding:

Create a detailed project plan and timeline 

A clear project plan and timeline are crucial for the successful onboarding of an outsourced accounting professional. This could be an outsourced accounting onboarding checklist and should include tasks, deadlines, and responsibilities for both parties involved. 

A detailed plan will ensure everyone is on the same page and that expectations are set from the beginning.

Provide access to necessary systems and documents 

To ensure a smooth transition, provide your outsourced accounting professional with access to all the necessary systems and documents. This will include things like accounting software, financial records, and communication tools.

Provide training and support for new systems they may not be familiar with, especially in virtual onboarding situations.

Establish regular check-ins and progress updates 

Regular communication is essential for a successful onboarding process. Schedule check-ins with your outsourced accounting professional to review their progress, address any questions or concerns, and provide feedback. 

These meetings will not only help build a strong working relationship but also ensure that the work is completed to your expectations.

Resolve any communication challenges

Effective communication is key to a successful partnership with your outsourced accounting professional. Address any communication challenges or misunderstandings early in the process. 

Put simply, be open and transparent about your expectations, and encourage them to do the same.

Assign dedicated team members to oversee the process 

Having dedicated team members oversee the onboarding process can help ensure that everything runs smoothly. These individuals should be responsible for coordinating with the outsourced accounting professional, providing support and guidance, and addressing any issues that may arise.

Document workflows and processes for future reference 

To ensure consistency and efficiency in your business operations, it is important to document workflows and accounting processes. This will also make it easier for new team members to get up to speed quickly. 

Your outsourced accounting professional can also provide valuable insights and suggestions for improving these financial processes.

Final Thoughts

Outsourcing accounting services can bring numerous benefits to your firm, but it is crucial to have a smooth onboarding process in place to ensure the success of this strategy. 

By following the best practices and tips discussed in this article, you can create a strong foundation for your outsourced accounting professional and set them up for success within your team. 

At Near, we specialize in recruiting top talent based in Latin America (LatAm) for US businesses seeking outsourcing solutions. Our recruitment specialists can help you onboard the perfect outsourced accounting professional for your business needs.

Fill out this form to receive a list of handpicked, pre-vetted accounting candidates who you can hire in just 21 days.

Frequently Asked Questions

Why is payroll a commonly outsourced accounting function?

Outsourcing payroll is a popular practice for a variety of reasons. 

• Time savings: Payroll processing can be complicated and time-consuming, especially for small businesses with limited resources. By outsourcing this financial task to a specialized provider, you can save valuable time and focus on your core competencies.
• Cost effectiveness: Outsourcing payroll can be more cost effective than hiring a full-time employee to handle this task in-house. This is because you only have to pay for the services you need rather than a full-time salary and overhead costs like office space and benefits.
• Expertise: Payroll service providers have expertise and experience in all aspects of payroll processing, including tax and regulatory compliance. This can help ensure accuracy and avoid costly mistakes.
• Scalability: As a business grows, its payroll needs are also likely to increase. Outsourcing payroll allows for easy scalability, as the service provider can handle larger volumes of payroll without causing disruptions or delays.
• Access to accounting technology: Payroll service providers often have access to advanced technology and software that can streamline the entire process. This can help improve efficiency and reduce the risk of errors.

When is outsourcing accounting professionals not a good idea?

Outsourcing to an external accounting partner may not be a good idea if:

• The accounting tasks being outsourced are critical to the core business operations and require strict confidentiality
• The company has limited resources and cannot afford the cost of outsourcing
• There is a lack of communication or cultural barriers between the company and the outsourced professionals
• The company does not have clear goals or expectations for outsourcing

For the most part, outsourcing is a valuable venture, and these problems can be fixed with the right onboarding process, so it is always good to consider outsourcing for your accounting needs.

How much does it cost to outsource a bookkeeper?

The cost of outsourced bookkeeping services depends on where you are outsourcing from. The salary for a US bookkeeper, for example, is around $54,000. A bookkeeper from LatAm, however, has a salary of around $42,000, $12,800 less.

However, these are just salary costs. It’s also important to account for recruiting, service provider, onboarding, and other costs associated with the outsourcing process.