How to hire Accountants from the Philippines?

Known for their strong financial acumen, English proficiency, and adaptability to global work hours, Filipino accountants offer a valuable solution for businesses seeking to expand their operations. With a large pool of qualified professionals and a proven track record of success, they can help you manage your finances effectively and efficiently. If you’re looking to hire an accountant in the Philippines, this guide will help you understand their roles, salary expectations, and how to streamline the hiring process with Global Squirrels.

What are the roles and responsibilities of an Accountant?

Accountants play an important role in your business’s financial health and success. They ensure that all financial records are accurate, up-to-date, and compliant with the laws. Accountants help you make valuable decisions, from managing tax obligations to assisting you with budgeting and forecasting. When you plan to hire accountants, you must be aware of their job roles and responsibilities.

Key Roles and Responsibilities:

1. Financial record keeping  Maintaining accurate financial records, including tracking income, expenses, assets, liabilities, and equity, is a part of the accountant’s responsibilities. They ensure that all the transactions taking place are documented and categorized to comply with the law and simplify reporting.
2. Financial reporting and analysis Accountants prepare essential financial statements, such as income statements, balance sheets, and cash flow statements. They analyze these reports to assess your business’s financial health and provide insights to help you make informed decisions.
3. Tax preparation and compliance Accountants ensure tax compliance by preparing and filing tax returns accurately and on time. They assist with tax planning to minimize liabilities and offer advice regarding the tax implications of financial decisions.
4. Budgeting and forecasting Accountants help with financial planning by developing budgets and forecasts. They track performance, identify variances, and suggest corrective actions to stay aligned with financial goals.
5. Internal controls and audits Accountants design and implement internal controls to protect your company’s assets and ensure accurate financial records. They support audits by providing documentation and ensuring adherence to accounting standards.

What is the salary of an Accountant from the Philippines?

According to the latest reports from Glassdoor (2024), the average monthly salary for an accountant in the Philippines with 5+ years of experience is $650. Updated figures ensure you have accurate information for your budgeting and hiring plans.

What are the advantages of hiring accountants from the Philippines?

1. Cost-effectiveness Hiring accountants from the Philippines can lead to significant cost savings compared to hiring in other countries like Georgia and Mexico.

1. Proficiency in English communication The Philippines boasts a highly educated workforce with exceptional English proficiency. According to recent data, over 80% of Filipinos understand written and spoken English, making communication seamless for U.S.-based businesses.
2. Willingness to work in U.S. time zones Filipino accountants are flexible with international work hours, ensuring real-time communication and smooth collaboration.
3. Strong educational background and certifications Filipino accountants often hold certifications from international bodies like ACCA and CPA, demonstrating their expertise in global accounting standards.

Top reasons to avoid hiring Filipino Accountants as Freelancers

1. Compliance issues due to non-filing of W-8BEN form Freelance accountants must submit the W-8BEN form to avoid IRS penalties. Many companies overlook this, leading to potential compliance risks.
2. Lack of commitment and high billing Freelancers may juggle multiple clients, which can affect the consistency and quality of their work. Full-time employees tend to offer greater reliability.
3. Time-consuming hiring process Sourcing qualified freelancers can be time-intensive due to the limited pool of experienced professionals preferring full-time roles.

We offer both accountants and bookkeepers – hire the right expert for your needs.

How does Global Squirrels solve these challenges?

Global Squirrels is a SaaS platform designed to simplify international hiring and payroll. Here’s how we help:

1. W-8BEN form compliance Our platform assists with documentation, ensuring compliance with IRS requirements.
2. Dedicated workforce We provide accountants who work exclusively for your business with clear employment clauses and notice periods.
3. Access to top talent We attract top accountants by offering competitive benefits like PhilHealth, HDMF, and social security.

Step-by-Step Guide to Hiring Filipino Accountants

1. Sign up with Global Squirrels.
2. Submit your hiring requirements.
3. Receive curated profiles within 2–5 business days.
4. Conduct interviews and select candidates.
5. Complete on boarding and let us handle payroll and compliance.

Are you ready to hire accountants from Philippines who meet all your business requirements? Request a demo today!