Finance and Accounting Outsourcing – FAQs

Are you considering outsourcing your finance and accounting-related tasks to an accounts service provider? Do you have doubts concerning outsourcing these services? Like what is the formula gross profit margin? How to do accounting on an accrual basis? What is online bookkeeping? What is the formula for calculating the breakeven point? What is the format for the balance sheet in accounting? Or what is an accounting cash basis? Is there any accounting office or bookkeeping business near me? What is the example of income statements and balance sheet? It may be as basic as the question as to how to understand a balance sheet to a critical question on how to deal with the calculation of break even point in cost accounting?

Here we present a few answers to the frequently asked questions by customers and clients regarding outsourcing their accounts and financial projects:

Our routine working hour is from Monday 7.30 PM EST to Saturday 3.30 PM EST. We work on weekends if we are informed earlier and the project demands.

Let’s start answering this question with what’s the meaning of Quickbook! QuickBooks is a great accounting software package that is marketed and developed by Intuit.

Believe our words, there are several reasons to invest your time and money in Quickbooks. If you want to save yourself from the hassle of paperwork and save time on bookkeeping, Quickbook is the best option that can handle the bookkeeping task automatically. On the basis of your need, you can generate a record that can directly give you the essence of your business trend. Are you wondering about what can be Quickbooks software price in India? Is QuickBooks free? Or thinking about what kind of apps are required for Quickbooks? To get the perfect answer to all your queries, contact us today, or just book a free demo here


If any of your queries or doubts are not answered in the FAQs provided here, and you wish to know more regarding our financial and accounting services, you can get in touch with us with the contact details provided on our website.


Yes. We do provide one free trial to demonstrate our expert service for up to 5 days. We deliver quality service, without any commitment.

We provide a quick reply to our finance and accounting services and guarantee a turnaround time of 24 hours in most cases. But, the concerned project reversal time will also depend on the capacity of work, complexity, project, type of tasks, and of course urgency of the  project completion

Our clients prefer outsourcing their accounting tasks to MFhills, as we offer a wide range of benefits, such as:

1.Higher savings, and flexible structure in pricing

2.No infrastructural and administrative struggles.

3.Increase your company’s financial efficiency

4.Easy approach to skilled assets and resources.

5.Ensure your data security and complete confidentiality

6.Proper clarity in financial operations

7.Organized process for revenue production

8.Swift and smooth turnaround time.

Our professional advisers are located all around the globe. An all-around knowledge of accounting and taxation processes allows you a unique partnership opportunity.

To differentiate between Cash basis and accrual basis of accounting let us first define the meaning of accrual accounting and cash basis accounting method. The accrual method of accounting is the method where both the revenue and expenses are well-recognized. And the best part about it is we can record when the revenue and expenses occur. But in the case of cash basis accounting refer to the method where all the items aren’t well-documented until cash exchanges occurred. That’s the primary difference between accrual and cash basis accounting.

Yes of course!. If you have got a web camera with your device, our representatives can schedule a demo of the services we provide to our customers.

We have a highly skilled team of accountants, chartered accountants, and financial experts from premier institutes who can help you with all your accounting needs.

We go along with a completely secure procedure to ensure that none of your documents or confidential data is disclosed, published, distributed, or sold. Your financial data will be safe with us.

Yes. Our major customers are based in the US, Australia, and the UK but we deliver financial and accounting services to clients situated in other regions of the world as well.

The decision to outsource only a part of the project or the entire project is totally left to you. Once we obtain your specifications and requirements, we will outline a custom roadmap and appoint a team of experts to work on your project.

To get in touch with us you can call us directly or fill up the contact form on our website and we will revert back to you at the earliest. Once you are convinced with our pricing and quality you can send in your files in either of the following ways:

1.Remote access: You save your documents in your own system. We then login to your system using a secured VPN and transfer the files, after which you can access the updated files from your computer

2.Application service provider: You need to scan and upload the folders or files to an ASP interface. Our team will transfer the files after login to the interface. You can then login and view the updated files

3.Server-based: You scan and upload your financial documents on to a secure FTP server. Along with the FTP server particulars, send us the accounting software’s backup file. We will update the files and upload them to the server on the same day

You may have this question while you are planning to outsource an accountant for your small business! Is there any difference between bookkeeper and accountant? In general, the bookkeeper is the one who is responsible to keep the records and who actually classifies the daily financial transactions of a company such as payment of bills, sales, payroll, etc. Whereas an accountant fabricates the information gathered by the bookkeeper. Now whether you go for an accountant or bookkeeper can be a personal choice, but hiring a professional is the only way to manage time to grow your business. Let the proficient define balance sheets, reconcile the account, reconcile statements, calculate the gross profit to sales, handle the management receivables, calculate the margin contribution formula, invest time on break-even analysis formulas, or in calculation gross profit. So that you can invest all your time and energy in your business ideas. Being an accountant company,that’s our mission!

We can deliver the most rational prices in the financial and accounting services industry. Our hourly charges can vary depending on the project complication and its type, technology used, skill and member requirement, and terms and conditions of the deal. Read more about our pricing structure.

Our team comprises of highly skilled accountant professionals with proficiency in operating a variety of software which are used in the finance and accounting industry accurately. We have expert managers and other computer professionals to work on any software you desire. But usually, we deal with Quickbooks, XERO, Netsuite, Freshbooks, etc.

We make use of up-to-date communication technologies to guarantee that our team of experts is available always to be able to answer all your doubts and queries. You can contact us over the call, Skype, e-mail, or through our active social media pages.

We accept payments via PayPal, check payment (within the USA), credit card, or wire transfer.

We deliver expert financial and accounting services to a wide range of industries globally. These include CPA firms and also small and big corporate companies as well.

MFhills is equipped with cutting-edge technology and state-of-the-art infrastructure to handle any type of financial service requirement.