Hiring In-House Accountant
Monthly Costs:
- Salary
- PF & CIT
- Bonus
- Office space
- Software
- Training
Estimated Annual Cost:
Significantly high for SMEs.
Outsourcing Accounting
What You Get:
- Full accounting
- Tax filing
- Compliance monitoring
- MIS reports
- Audit support
Cost:
Only a fraction of in-house expense.
Comparison Table
| Factor | In-House | Outsourcing |
|---|---|---|
| Cost | High | Affordable |
| Expertise | Limited | Multi-expert team |
| Continuity | Risk of turnover | Stable service |
| Compliance risk | Medium | Low |
| Scalability | Limited | Flexible |
Why SMEs Prefer Outsourcing
- Lower cost
- Higher expertise
- Reduced compliance risk
- No HR management stress