Looking to outsource Book keeping tasks

[Valerie DeFreitas]

Hi BP Fam, 

I have been looking to find a legit bookkeeper to start helping me keep great records for tax purposes. I have heard so many folks on the BP podcast episodes talk about outsourcing this task to an overseas company, the most popular seems to be the Philippines. 

I have found a company called; EMAPTA. I have been googling all morning to see if they are legit, with no real solid evidence one way or the other. 

My question; Does anyone on here have experience in this arena, i.e. are YOU actually using an overseas company to outsource in your business? And if so, how did you verify the company?

The Better Business Bureau only has US, Canada and Mexico as options to verify on their website.  So, thought I would reach out here to gain some insight. 

Aloha, Val

[Rachel Mazzanti]

@Valerie DeFreitas

That's some bad advice. 

First thing, oversea companies might not have the same concept in accounting.

Second, you are looking for accounting specific in real estate. 

I can recommend someone that can do it at affordable price with solid knowledge and experience. There are many accountants here on BP as well.

How many properties do you have?

[Valerie DeFreitas]

Hi @Rachel Mazzanti. Thank you for your valuable feedback!

Currently, I own two properties and I am considering purchasing at least one more by the end of this year. While searching for potential companies, I came across one from the Better Business Bureau that is located in Colorado. However, I am unsure about their affordability.

Additionally, I am in the process of launching my consulting business this year and would like to stay ahead of the game by hiring a part-time bookkeeper for the time being, with the possibility of a full-time position in the future.

I would greatly appreciate your recommendation on this matter.

Thank you and Aloha, Val

[Tino Madyara]

@Valerie DeFreitas I agree, there are a lot of good remote bookkeepers you can find. Happy to provide a few for you to try if needed.

[Valerie DeFreitas]

Hi @Tino Madyara. 

Yes, I will take all the referrals ppl offer and do the footwork to find what flows with my situation. 

Send it . . 

:)

Thank you!

[Valerie DeFreitas]

I should add, @Tino Madyara and @Rachel Mazzanti

Important piece of info; I am trying to grow both my business and investing companies as a 'family entity'. 

Question; How can I get my mother involved and trained up to eventually take over as the bookkeeper? Do these services you speak of offer training?

[Antonette El Baz]

Hi there,

As a professional bookkeeper, I would caution against outsourcing your bookkeeping tasks to an overseas company without proper research and due diligence. While outsourcing can be a cost-effective solution, it is important to ensure that the company you choose is trustworthy and capable of handling your sensitive financial information.

With this company you have found, it is crucial to thoroughly vet any potential outsourcing partner before entrusting them with your financial records. One way to verify the legitimacy of an overseas company is to check reviews from reputable online sources or ask for references from other U.S. based clients who have used their services. 

Have you considered using a U.S. based virtual bookkeeper? I think you'll find that it can be an affordable option and they would follow the same U.S. based accounting practices. 

[Todd Lennig]

@Valerie DeFreitas happy to speak with you about what my firm offers and if we are a good source.  As for training,  there are a lot of companies that is what they do.  I would start with basic bookkeeping and then drill down to real-estate. 

[Valerie DeFreitas]

Thank  you @Todd Lennig, thank you @Antonette El Baz

I will keep doing some research and reach out when I am ready to hire. I definitely want to get my Mother trained up as the primary bookkeeper. She has a background that should help her excel in this field. 

Appreciate all the input from all the BP community. 

Aloha, Val

[Tyler Lanners]

Hey Valerie,

I'm a little late to the party here, but our private equity handles all of our bookkeeping overseas. In the Philippines they actually have the same accounting practices, and a lot of the bookkeepers over there have experience working with US-based companies already. If your mother is going to be the primary bookkeeper, then I would definitely hand off the grunt work to a qualified virtual assistant who you would pay about a lot less than someone working in the US to do the same quality of work.

[Bob Lachance]

@Valerie DeFreitas we have many virtual assistants that are managing the bookkeeping for real estate clients. They are trained and we help manage them for you. It's very doable and Tyler is correct about the accounting practices and how much they work with US companies. I use my own VAs in my real estate business and for bookkeeping and they are tremendous help!