What Does an Offshore Accounting Staff Member Do? Responsibilities, Skills and KPIs

Australian businesses are increasingly using offshore accounting staff to support their finance and accounting operations. From bookkeeping and accounts payable to payroll administration and financial reporting support, an offshore accounting professional can take care of many day-to-day accounting tasks while the Australian finance team focuses on clients, compliance and business strategy.

But what exactly does an offshore accounting staff member do?

The responsibilities depend on the role, experience and requirements of the business. A Bookkeeper may focus on reconciliations and transaction processing, while an Accounts Payable Officer may manage supplier invoices and payments.

In this guide, we'll explain the responsibilities, skills and KPIs of offshore accounting staff, along with the types of accounting roles Australian businesses can consider hiring offshore.

What Is Offshore Accounting Staff?

An offshore accounting staff member is an accounting professional who works remotely from another country while supporting an Australian business or accounting team.

An offshore employee can be hired to perform specific accounting responsibilities based on the business's processes and requirements.

Depending on the role, an offshore accounting professional may support:

• Bookkeeping
• Accounts payable
• Accounts receivable
• Payroll administration
• Bank reconciliation
• Data entry
• Financial reporting
• Management accounting support
• Tax accounting administration
• SMSF accounting support

For Australian businesses, offshore accounting can provide additional team capacity without requiring every accounting function to be performed by an in-house employee.

Explore Accounting Roles

What Does an Offshore Accounting Staff Member Do?

The responsibilities depend on the specific position.

An offshore accounting team can include different professionals with specialised responsibilities rather than expecting one person to handle every accounting function.

Here are some common responsibilities.

1. Bookkeeping

Bookkeeping is one of the most common functions businesses can delegate to an offshore accounting professional.

Typical responsibilities include:

• Recording financial transactions
• Maintaining accounting records
• Bank reconciliations
• Credit card reconciliations
• Accounts payable data entry
• Accounts receivable data entry
• Invoice processing
• Expense tracking
• Maintaining financial documentation

An offshore Bookkeeper can help keep financial records organised and up to date.

Bookkeeper

2. Accounts Payable

Accounts Payable staff are responsible for managing money that a business owes to suppliers and service providers.

Typical responsibilities include:

• Processing supplier invoices
• Entering invoices into accounting systems
• Checking invoice information
• Matching invoices with purchase orders where applicable
• Maintaining supplier records
• Preparing payment information
• Following up on outstanding invoices
• Reconciling supplier accounts

Having dedicated support for these tasks can help businesses maintain an organised accounts payable process.

Accounts Payable Officer

3. Accounts Receivable

Accounts Receivable focuses on money owed to the business by customers.

Responsibilities may include:

• Preparing invoices
• Processing customer payments
• Allocating payments
• Reconciling customer accounts
• Monitoring outstanding invoices
• Sending payment reminders
• Maintaining customer records
• Preparing receivables reports

An offshore Accounts Receivable Officer can support the finance team with these recurring processes.

Accounts Receivable Officer

4. Payroll Administration

Payroll requires accuracy and attention to detail.

Depending on the business and the scope of the role, an offshore Payroll Officer may assist with:

• Payroll data preparation
• Timesheet processing
• Employee record updates
• Payroll administration
• Leave data management
• Payroll reconciliation
• Payroll reporting support
• Maintaining payroll documentation

Australian businesses should ensure that payroll responsibilities are structured around their applicable Australian employment and tax requirements.

Payroll Officer

5. Financial Reporting Support

More experienced offshore accounting professionals may also assist with financial reporting.

Responsibilities can include:

• Preparing financial reports
• Collecting financial data
• Account reconciliations
• Variance analysis
• Management reporting support
• Maintaining reporting schedules
• Preparing financial information for review

The Australian accountant or finance manager can then review the information and complete any required professional or compliance work.

What Skills Does an Offshore Accounting Staff Member Need?

The skills required depend on the specific accounting position.

However, successful offshore accounting professionals typically need a combination of technical accounting skills, software knowledge, attention to detail and communication skills.

1. Accounting Knowledge

An offshore accounting professional should understand the fundamentals relevant to their role.

This may include:

• Double-entry bookkeeping
• Accounts payable
• Accounts receivable
• Bank reconciliation
• Financial statements
• Payroll processes
• General ledger processes

The level of accounting knowledge should match the position.

2. Accounting Software Experience

Experience with accounting software can be important for businesses hiring offshore accounting staff.

Depending on the business, this may include experience with platforms such as:

• Xero
• MYOB
• QuickBooks
• Microsoft Excel
• Other financial management systems

Businesses should identify the software they use before defining the position and candidate requirements.

3. Attention to Detail

Accounting work requires accuracy.

Small data-entry errors can affect financial records and reporting, so attention to detail is an important skill.

An offshore accounting professional should be able to:

• Check transactions
• Identify inconsistencies
• Reconcile accounts
• Follow established procedures
• Maintain accurate records

4. Communication Skills

Although accounting involves numbers and systems, communication is still important.

Offshore accounting staff may need to communicate with:

• Australian accountants
• Finance managers
• Business owners
• Suppliers
• Customers
• Other internal departments

Clear written and verbal communication can help reduce misunderstandings and improve workflow.

5. Time Management

Accounting teams often work with recurring deadlines.

An offshore employee may have responsibility for daily, weekly or monthly tasks.

They should therefore be able to prioritise work and complete tasks within agreed deadlines.

What KPIs Should You Use for Offshore Accounting Staff?

KPIs, or Key Performance Indicators, help Australian businesses measure the quality and productivity of their accounting team.

The right KPIs depend on the specific role.

Here are some examples.

Bookkeeping KPIs

Possible KPIs include:

• Transaction processing accuracy
• Number of transactions processed
• Bank reconciliation completion rate
• Reconciliation accuracy
• Timeliness of bookkeeping updates
• Number of unresolved discrepancies

Accounts Payable KPIs

Possible KPIs include:

• Invoice processing time
• Invoice accuracy
• Number of invoices processed
• Duplicate invoice rate
• Outstanding invoice volume
• Supplier query response time

Accounts Receivable KPIs

Possible KPIs include:

• Invoice processing time
• Payment allocation accuracy
• Outstanding invoice follow-up rate
• Customer account reconciliation accuracy
• Number of unresolved receivables issues

Payroll KPIs

Possible KPIs include:

• Payroll processing accuracy
• Payroll deadline compliance
• Data accuracy
• Number of payroll discrepancies
• Employee query response time

General Accounting KPIs

For broader accounting roles, businesses may track:

• Month-end task completion
• Reconciliation completion
• Reporting accuracy
• Data accuracy
• Task completion rate
• Error rate
• Deadline compliance

KPIs should be realistic and directly connected to the employee's responsibilities.

How to Manage an Offshore Accounting Employee

Hiring an offshore accounting professional is only the first step.

Australian businesses should also establish a clear management and communication process.

Define Responsibilities

Start with a detailed job description.

Clearly identify:

• Daily responsibilities
• Weekly responsibilities
• Monthly responsibilities
• Systems used
• Reporting requirements
• Approval requirements
• KPIs
• Escalation procedures

Create Standard Operating Procedures

Accounting processes should be documented wherever possible.

For example, create procedures for:

Invoice received → Invoice checked → Invoice entered → Approval → Payment preparation → Reconciliation

A documented workflow gives the employee a clear process to follow.

Establish Review Processes

Accounting work should have appropriate review and approval procedures.

Depending on the role, this could involve:

• Daily checks
• Weekly reviews
• Month-end reviews
• Reconciliation reviews
• Management approval

The level of review should reflect the responsibilities and risk associated with the role.

Use Secure Systems and Access Controls

Accounting staff may work with sensitive financial information.

Businesses should therefore use appropriate security practices, including:

• Individual user accounts
• Role-based access
• Strong authentication
• Secure password practices
• Appropriate software permissions
• Regular access reviews

Employees should only receive access to the systems and information necessary for their responsibilities.

Offshore Accounting Staff vs Hiring Locally

Australian businesses may compare offshore accounting with hiring an employee locally.

The decision can depend on several factors.

The right choice depends on the business's accounting requirements, management structure and operational needs.

Which Accounting Roles Can You Hire Offshore?

Australian businesses may require different accounting professionals depending on their size and workflow.

Virtual Team's accounting offering includes roles such as:

• Bookkeeper
• Accounts Payable Officer
• Accounts Receivable Officer
• Payroll Officer
• Assistant Accountant
• Management Accountant
• Tax Accountant
• SMSF Accountant

Instead of hiring one generalist to handle everything, businesses can build a dedicated accounting team around specific responsibilities.

When Should You Consider Offshore Accounting Staff?

Offshore accounting support may be worth considering if your business:

• Has a growing volume of accounting work
• Needs additional bookkeeping capacity
• Has repetitive finance administration
• Needs support with accounts payable or receivable
• Requires additional payroll administration
• Has difficulty finding suitable local talent
• Wants to expand its finance team
• Needs additional support during busy periods

Before hiring, identify the tasks that are consuming the most time and determine whether they can be clearly documented and managed remotely.

Benefits of a Dedicated Offshore Accounting Team

A dedicated offshore accounting team can provide several operational benefits.

Additional Capacity

Your existing finance team can handle more work without immediately adding multiple local positions.

Role Specialisation

You can hire professionals based on specific responsibilities instead of expecting one person to handle every accounting function.

Scalable Support

As your business grows, you can potentially add additional roles based on workload.

Process-Based Work

Many accounting activities follow structured workflows, making them suitable for clearly documented processes.

How Virtual Team Can Help

Building an offshore accounting team requires more than simply finding an accounting professional.

The role needs to be clearly defined, the required skills need to be identified and the employee needs to understand your systems and processes.

Virtual Team provides dedicated offshore staffing solutions for Australian businesses and offers accounting professionals across different levels and specialisations.

Final Thoughts

An offshore accounting staff member can support Australian businesses with a wide range of finance and accounting responsibilities, including bookkeeping, accounts payable, accounts receivable, payroll and reporting support.

The key to making an offshore accounting arrangement work is to define the role clearly, establish documented processes, use appropriate systems and measure performance with relevant KPIs.

The right role will depend on your workload and requirements.

Whether you need a Bookkeeper, Accounts Payable Officer, Accounts Receivable Officer, Payroll Officer, Assistant Accountant or another accounting professional, defining the responsibilities and expected outcomes before hiring can help create a more effective team structure.

• Explore Accounting & Finance Roles
• Build Your Dedicated Offshore Team