MYCPE ONE

The post-pandemic era has transformed the professional services industry - and accounting firms are no exception. The shift to remote work, once considered a temporary solution, has become a cornerstone of modern business operations. In this climate, offshore staffing has emerged as a strategic lever for firms looking to scale efficiently, reduce costs, and meet rising client expectations. 

So, what exactly can you outsource? 

The answer: nearly 80–90% of the work traditionally performed by onshore staff. Whether it's reconciling accounts, preparing tax returns, or managing internal operations, offshore teams have proven themselves to be a cost-effective, scalable, and reliable solution. 

Drawing from our experience with over 500+ accounting firms globally, here’s your ultimate guide to what an offshore team can do for you. 


1. Accounting & Bookkeeping (Daily/Monthly/Quarterly) 

  • Bank statement downloads & reconciliation 
  • Vendor invoice entry, coding, and vendor account reconciliation 
  • AP management: ACH payments, credit period, vendor follow-ups 
  • AR: client invoicing, collections, statement management 
  • Real-time bookkeeping: PO creation, inventory mapping, job costing 
  • Fixed asset maintenance and depreciation 
  • Client communication for missing information 
  • Catch-up bookkeeping for prior years or software migration 
  • Chart of accounts standardization and cleanup 
  • Adjusting journal entries, AMA clearing 
  • General ledger review and reconciliation 

Also includes: W-9 collection, 1099 preparation, intra-company reconciliations, and real-time financial reporting. 

Related Reading: Outsourced Accounting | How much does it cost? | Best Outsourced Accounting Services | Accounting Firms Concerns on Offshoring 

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2. Reporting, Analysis & Virtual CFO Support 

  • Financial reports (P&L, BS, CF, KPIs, custom dashboards) 
  • Variance analysis: budget vs. actual, prior year comparison 
  • Management reports and SOPs 
  • Working capital and profitability analysis (AR/AP/job costing) 
  • Forecasting, budgeting, and scenario modeling 
  • Internal observation and reporting of red flags 
  • Setup of reporting processes and automation 
  • Trial balance for tax prep, depreciation schedules 

3. Tax Preparation, Planning & Compliance 

  • Collecting bank statements, invoices, credit card data 
  • Preparing spreadsheets for import into tax software 
  • Individual (1040, 1040NR), Corporate (1120, 1120S, 1065), Trust (1041), and Exempt Org (990) returns 
  • FBAR filing, Forms 5471/5472/2555 
  • Book-to-tax entries and reconciliation 
  • Sales/use tax setup, computation, and filing (monthly/quarterly/annually) 
  • Sales tax audits and back-tax calculations 
  • State tax portal setup and payments 

4. Payroll Services (Weekly/Biweekly/Monthly) 

  • Employee setup and master creation 
  • Timecard entry and follow-up with clients 
  • Real-time payroll processing 
  • Calculation review (government taxes, deductions, etc.) 
  • Paycheck and pay stub issuance 
  • W-2, W-4, EFTPS setup, and compliance filings (940, 941, state) 
  • Working with third-party processors (ADP, Paychex, Gusto) 

5. Client Onboarding & Corporate Compliance 

  • Engagement proposals and follow-up 
  • Document collection (QB file, tax returns, incorporation docs) 
  • Entity incorporation, operating agreement setup 
  • Software setup (accounting, tax, CRM, billing) 
  • Yearly compliance, state filings 
  • Waiver of notice, notices of meetings, client organizer sending

6. Internal Firm Accounting & Admin 

  • Internal invoicing based on timesheets or engagement model 
  • CRM and contact list maintenance 
  • Email/calendar management for partners/managers 
  • Prospect research for new client pitches 
  • Updating internal portals and document libraries 
  • Organizing newsletters, social posts, and client announcements 
  • Workflow tracking, A/R and A/P for firm vendors 

7. Administrative & Executive Support 

  • Meeting scheduling, confirmations, cancellations 
  • Client follow-ups for documentation 
  • Live phone answering and message forwarding 
  • E-newsletter preparation and dispatch 
  • CPE credit tracking and report generation 
  • Travel arrangements and itinerary planning 

8. Audit, Review & Compilation Work 

  • Workpaper prep and document bookmarking 
  • GAAP-compliant financial statement compilation 
  • Balance confirmations: vendors, lenders, AR, inventory 
  • Review-level analysis: ratio testing, management interview support 
  • Documentation for peer review: checklists, letters, findings 
  • Audit tools: Caseware, AdvanceFlow, Checkpoint Engagement 

9. Advanced Review Tasks

  • Comparison of current vs. prior year financials 
  • Identification of classification errors or unusual variances 
  • Review of board minutes for compliance validation 
  • Analyzing significant late-year transactions 
  • Reading and understanding regulatory communications 
  • Investigating audit red flags or recurring anomalies 

What Can’t Be Done Offshore? 

Though the list is extensive, there are still a few areas that require physical or strategic presence: 

  • In-person meetings and on-site audits 
  • Document delivery/receipt by hand 
  • Final CFO or partner sign-off decisions 
  • Physical inventory validation (unless facilitated by video) 

Why Offshore Teams are a Smart 2026 Strategy 

Pre-COVID, just 1 in 25 accounting pros worked remotely. Today, over 45% of accounting roles support remote work. 

It’s not about if you should outsource - it's about how soon. Outsource accounting services enables your onshore team to focus on strategic growth and client relationships, not repetitive processes. 

  • Global reach: Operate in multiple time zones with 24/7 efficiency 
  • Scalability: Add new team members without the cost of U.S. hires 
  • Expertise: Offshore pros are trained in U.S. GAAP, IRS, and state laws 
  • Focus: Let partners and senior staff concentrate on value-added services 
  • Security: Data encryption, SOC 2/ISO protocols, and audit logs in place 

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FAQs 

Over 100+ distinct tasks - ranging from bookkeeping to audit preparation - can be fully managed offshore. In most firms, this represents 80–90% of operational workload. 

Offshore teams at MYCPE ONE operate under enterprise-grade security, NDAs, and international compliance (SOC 2, ISO). Your data is encrypted and monitored. 

Yes. Our team is trained in U.S. GAAP, IRS codes, and multi-state compliance, with periodic internal QA reviews and continuing education. 

Once we understand your workflows, we set up systems, assign trained professionals, and begin task execution—typically within 7–14 days. 

Christopher Rivera

Christopher Rivera

Christopher is the Director of Client Relations and Business Development at MYCPE ONE, a leader known for his energy and people-first approach. Chris leads from the front mentoring teams, driving growth, and building lasting client relationships. With over a decade of experience in sales, coaching, and business strategy, he has helped 5,000 CPAs nationwide overcome challenges and discover new opportunities. Chris is a familiar presence at major accounting conferences, representing MYCPE ONE and shaping meaningful industry partnerships. Passionate about leadership and professional growth, he continues to inspire teams and professionals to reach their highest potential.

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