Case 3: Accounting Outsourcing
Client C is an established manufacturer of sewing equipment components based in Hamad Town, Bahrain. Its products are mainly for the exports market. It was a family run company which was eventually split into two companies managed by different family members. After the split, one of the companies lack the accounting resources to handle the daily accounting operation as well as to rebuild their accounting function.
When they engaged Falcon’s accounting outsourcing services, they only had one junior accounts executive and they needed time to build their accounting headcount. At the start, we were aware that we needed to manage the accounting legacy issues from the split, the daily accounting operation and also to assist our client to rebuild their accounting department.
Accounting Outsourcing Services Offered:
In the beginning we assigned up to 2 experienced accounts staff to be placed at client office for 2-3 days a week to assist them with the accounting issues from the split and daily accounting tasks.
After about 6 months, we reduced our headcount to 1 experienced accounts staff as accounting issues from the split are solved and our client managed to build sufficient accounting headcount for their daily operation. From this point onward, our role was primarily to review their accounts at the office for about 2 days a week.
Important Highlights of Our Accounting Outsourcing Services
Generally for companies and businesses that need weekly onsite accounting services usually ranging from 1-3 days a week.
Job scopes include review of accounts, preparing full set of accounts, handling part of accounts and clearing accounting backlog.
Clients may engage us for regular onsite visits such as for weekly preparation and maintenance of accounts or temporary in nature such as for clearing accounting backlog.