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What is an outsourced real estate accounts assistant?
The accounting tasks performed within a real estate business can be quite extensive especially in relation to trust accounts, however there is opportunity to outsource much of this work to someone external to your agency. This person can be located offshore in places such as the Philippines but will still work very closely with your onshore team.
An offshore accounts assistant can help both your sales and property management team with the following tasks, plus many more:
- Maintaining trust accounts
- Bank reconciliations
- Bond reconciliations
- Tenant and landlord invoicing
- Pay runs for utilities, trades and rates
- Accounts receivable and payable
- Reporting
- Payroll processing
- BAS and tax preparation
- Property management accounts
- Managing late payments, arrears and defaults
- Strata management accounting.
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Why do real estate agents outsource accounts assistance offshore?
With daily reconciliations required for trust accounts, and a huge number of other tasks involved with accounts receivable and payable, many real estate agents are sharing their accounting load with an offshore resource. The tasks require a very high level of attention to detail and a thorough understanding of accounting knowledge which is perfectly suited to the professional and qualified talent that’s available in the Philippines.
Outsourcing your repetitive, transactional accounting tasks to an offshore accounts assistant will allow your sales team and property managers to focus on growing your business rather than chasing payments. Your accountant will also be more focused on business strategy and managing higher level accounting requirements. As a business owner, you’ll have accounting information that’s correct and up to date, ensuring that any late or defaulting payments are easily managed before they become major issues.
What other real estate job roles can be outsourced?
In addition to an accounting assistant, many other jobs within your real estate agency can be fulfilled by an offshore team member, including:
What are the benefits of outsourcing real estate accounts assistant roles?
Organisations are able to appreciate the added benefits that come from offshoring real estate accounts assistant duties to the Philippines, including:
What are the costs associated with outsourcing real estate accounts assistant roles?
Outsourcing your real estate account assistant to the Philippines can represent significant employment cost savings for your business of up to 70%. At Beepo, we offer a simple monthly fee to help you reduce your overheads and focus on growing your business. This monthly fee covers everything from infrastructure, security, management and recruitment, to training, IT, legal and staff benefits.
For more detailed information on costs, please arrange a business consultation so we can tailor a solution to suit your unique business needs.
How does hiring an outsourced real estate accounts assistant work?
This first step is to find out if your business is offshore ready. If the answer is yes, here are the next steps:
- Create a job description: to help us hire the right candidate for your role. We can also assist in this process to ensure we are finding the best talent in the current local market.
- Source the right candidate: we source candidates across our database and the local market before presenting you with a shortlist of the most suitable candidates available.
- Screen and interview: you screen, interview and select the candidate(s) you’d like to hire while we take care of the infrastructure set up to get them ready to work for your business. It’s usually around six to eight weeks to get your offshore staff up and running.
- Onboard and train: your business, along with the operational assistance of our offshore management team, organise new staff onboarding and training, including the use of your systems, any relevant processes and workflows they may need and an overview of your company values and culture. This will help your new team member fit seamlessly into your organisation and assist in effective change management with your existing onshore team members.
The Beepo advantage
Beepo is an Australian-based outsourcing company that offers businesses a distinct competitive edge with offshore staffing solutions. We take the time to understand the hardships our clients face when it comes to recruiting hard working, dedicated staff. The Philippines is renowned for its accounting talent and bookkeeping skills, and we are adept at finding and recruiting the best of the best in terms of bookkeepers.