Industry Analysis & Industry Trends
The Bookkeeping industry provides bookkeeping services on an outsourced basis. The industry has grown because of clients increasingly outsourcing back-office administrative activities to focus their efforts on core business functions. The industry grew strongly through the 1990s and early 2000s as an outsourcing trend took hold. Businesses sought to become leaner, more flexible and more focused on their core competencies.
Over the past five years, competition from offshore providers has intensified, particularly from those based in India, where low-cost, skilled, English-speaking labour is available... purchase to read more
Industry Report - Industry Products Chapter
The main role of bookkeepers is to keep a record of clients' transactions, generally up to the trial balance stage. This includes all payments and receipts and those payable and receivable. These records are used to produce official financial statements and other interim financial reports used by clients. Bookkeepers' duties may also involve regularly calculating a client's monthly or quarterly profit or loss estimates. This task has been made easier by the availability of accounting software, but care must still be taken so that all transactions are entered correctly. Bookkeepers also perform reconciliations, including reconciling bank account and credit card transaction details with accounting records, and physical inventory with purchase and sale records... purchase to read more