There are 9 Companies in the Philippines
that provide Bookkeeping Services!

The Philippines is gaining traction in terms of providing outsourcing services not only for customer support but also for outsourcing tech services to different foreign businesses. What's promising about the Philippine IT industry is that it's still growing despite the economical and legislation challenges the country faces. 

According to salary explorer, the average salary in the web industry in the Philippines is estimated to be around 750 USD/mo, making the country one of the cheapest IT service providers in the region. Due to this factor, the Philippines is considered to be a good outsourcing opportunity for many international web agencies and IT companies. 

Why you should work with Philippines IT companies

Most of the Philippines’ web agencies and IT companies provide services for a significantly lower price than you can find in any other country in the region. Another reason why Philippines IT companies are attractive is the local talent pool. Based on a report of the Philippine Statistics Department, in 2019 there were more than 175K professionals working for 5300 IT companies in the country, which ensures a high productivity rate and helps small IT companies transform into medium and large competitors that ultimately reach global market. 

What to be aware of when working with Philippine IT companies

The good production rate of IT companies from the Philippines are balanced by sub developed business culture, and lack of global-level IT specialists in most of the companies. The contrast becomes higher with an underdeveloped IT education system in the country which makes the Philippines companies to lower the price rate below the ASEAN average. 

How reliable are Philippines IT companies

Considering the latest evolution of the IT sector in the country and the increasing number of foreign companies investing in the digital sector, Philippine companies have improved their reputation on the world level by implementing the minimum standards required by potential foreign clients according to Rappler. 

With all these, not many IT companies managed to exit the internal IT market and create a well-known name on a global level. This is why, Tech Behemoths recommends taking a closer look when selecting a potential partner for web, software, and mobile projects from the Philippines, but as well as from any other country. 

How Philippines IT industry relates to the neighboring countries

With a lot of competitors in the region, like China, Japan, Singapore, and Indonesia, the Philippines still need to progress to reach a quality competitive level in the region. On the other hand, cheap prices for web & IT products and services attract small and medium businesses to invest and cooperate with Philippine-based IT companies. 

Bookkeeping is the process used to record the financial transactions of a company. These services involve tracking how much money enters and exit a firm, such as payments from clients and payments to vendors. 

Did you know that bookkeeping accuracy is critical for company success? According to research conducted by a U.S. bank, 82% of small businesses fail owing to a lack of understanding and management of cash flow, highlighting the need for competent accounting.

Fact about Bookkeeping 

The profession of bookkeeping can be traced back to the 15th century when Italian mathematician Frater Luca Pacioli, known as the father of modern bookkeeping, introduced concepts like double-entry bookkeeping and other accounting systems that are still in use today.

Bookkeeping for every form of business requires various components and stages: 

• Documenting transactions

• Managing debits and credits 

• Processing payments and invoices

• Preparing financial statements (Income Statement, Balance Sheet, Cash Flow Statement, Statement of Owner’s Equity)

• Maintaining general ledgers

Bookkeeping offers the following benefits:

• Increased budgeting

• Simplified tax filing

• Ensuring IRS compliance

• Understanding seasonal business changes

• Monitoring financial metrics (revenue, costs, profitability, etc.)

• Gaining more operational time

How To Find a Bookkeeper

Bookkeepers manage a company's financial accounts, ensuring they are accurate and simple to understand. Their job is critical to the effective operation of a company, which might have many transactions in a single day, or over a week, month, fiscal quarter, or year.

At the moment, TechBehemoths has 25 Bookkeeping service providers. Choose a suitable provider based on their location, reviews, portfolio and hourly rate. Apply our platform filters, get in touch with them and create a contract outlining deadlines, rates, and expectations to ensure everyone is on the same page.

Also, you can submit your project, and we will select companies based on the project description, deadline, budget, and technical speciality for accurate matching.