Outsourcing

I. Accounting

Bank Reconciliation: Matching bank statements with internal cash records.
General Ledger (GL) Management: Maintaining the company's financial records, journal entries.
Fixed Asset Management: Recording and tracking fixed assets, calculating depreciation.
Inventory Management: Tracking inventory levels, managing stock counts (data entry aspects).
Financial Reporting (Basic): Generating standard financial statements like income statements, balance sheets, and cash flow statements based on reconciled data.

Investment Research: Analyzing companies, industries, and economies to provide insights for investment decisions (e.g., equity research, credit research).
Financial Modeling: Creating complex financial models for forecasting, valuation, and risk management.
Risk Management: Assessing and mitigating financial risks, developing risk models, and conducting stress tests.
Financial Planning and Analysis (FP&A): Budgeting, forecasting, performance reporting, and strategic financial planning.
Accounting & Tax Research: Complex accounting work, tax preparation, and compliance research.
Actuarial Services: Risk assessment and financial modeling for insurance and pension industries.
Due Diligence Support (Data Side): Collating documents and organizing data for mergers & acquisitions.

Data Entry and Management: Inputting, updating, and maintaining data in various business systems (CRM, ERP, specific MIS applications).
Report Generation: Running pre-configured reports from MIS tools on a regular basis (daily, weekly, monthly).
Dashboard Maintenance: Ensuring data feeds for management dashboards are accurate and up-to-date.
Data Quality Assurance: Implementing processes to ensure the accuracy and completeness of data.
System Administration (Basic): User access management, basic troubleshooting, and monitoring of system performance.
Data Archiving and Retrieval: Managing the storage and retrieval of historical data.

Data Preparation and Collection: Gathering, cleaning, and organizing financial records, invoices, contracts, payroll data, and other relevant documents for audit review. This can be a very time-consuming task for auditors.
Reconciliations: Performing various reconciliations (bank reconciliations, intercompany reconciliations, sub-ledger to general ledger reconciliations) to ensure data accuracy before it's subjected to audit.
Standardized Testing: Executing routine, repeatable audit tests based on established methodologies provided by the audit firm. This could include:

Vouching (tracing transactions from ledgers to source documents).
Tracing (tracing source documents to ledgers).
Confirmation follow-ups (e.g., sending and tracking confirmations for accounts receivable/payable).
Population testing for specific attributes.

Document Management: Organizing and managing audit evidence and working papers, ensuring they are properly indexed and easily retrievable.
Compliance Support (Data Level): Assisting with the collection of evidence for regulatory compliance audits (e.g., SOX compliance, HIPAA, GDPR), ensuring that documentation requirements are met.
Forensic Audit Support (Data Side): Helping to collect and organize financial data for forensic investigations, which can involve large volumes of transactions.
IT Audit Support (Basic): Assisting with data extraction from IT systems or performing basic checks on system reports.

Tax Data Preparation: Collating and organizing financial data required for tax filings.
Basic Tax Calculation: Calculating straightforward tax liabilities based on provided data and rules.
Tax Form Preparation: Filling out standard tax forms (e.g., payroll tax forms, sales tax forms).
Tax Return Filing (Administrative): Submitting prepared tax returns to relevant authorities.
Compliance Monitoring (Basic): Tracking deadlines for various tax filings.
Sales Tax/VAT Processing: Calculating and reporting sales tax or VAT transactions.

Document Review (Basic/Volume): Reviewing large volumes of documents for specific keywords or simple criteria (often supported by AI tools).
Data Entry for Legal Systems: Inputting case details, client information, and document metadata into legal management systems.
Transcription Services: Transcribing legal proceedings, depositions, or dictations.
Legal Billing and Invoicing: Processing invoices for legal services.
Contract Lifecycle Management (Administrative): Organizing and managing contract repositories, tracking renewals.
Proofreading Legal Documents: Checking for grammatical errors and typos in legal documents.
Paralegal Support (Administrative): Scheduling, file organization, basic communication with clients or courts (under direct supervision).