Why Global Companies Hire Bookkeepers from Philippines

The Philippines has emerged as a premier destination for bookkeeping talent, offering several distinct advantages. First, Filipino bookkeepers possess excellent English proficiency, allowing for seamless communication with global teams. Second, they offer significant cost advantages with salaries typically 60-75% lower than in Western countries. Third, the Philippines has a strong accounting education system producing over 5,000 accounting graduates annually. Fourth, Filipino bookkeepers demonstrate high attention to detail, accuracy, and procedural discipline. Finally, with a business culture influenced by both American and Asian practices, Filipino bookkeepers adapt easily to various accounting systems and business environments.

Who Should Consider Hiring Philippines Bookkeepers

Several types of organizations can benefit significantly from hiring Filipino bookkeepers:

• Small and Medium Businesses looking to reduce accounting overhead while maintaining accuracy
• Accounting Firms seeking to scale their bookkeeping capacity cost-effectively
• E-commerce Companies requiring transaction processing and reconciliation
• Startups needing professional financial record-keeping without full-time local staff
• Real Estate Management Companies requiring tenant billing and expense tracking
• Professional Service Firms looking for client billing and expense management support

Key Skills and Specializations for Bookkeepers

Filipino bookkeepers offer diverse skill sets across different accounting specialties:

Many Filipino bookkeepers are also proficient in popular accounting software including QuickBooks, Xero, FreshBooks, MYOB, Sage, and specialized industry platforms. This technology proficiency allows them to integrate seamlessly with existing accounting systems.

Experience Levels of Philippines Bookkeepers

Bookkeepers in the Philippines typically fall into three distinct experience categories:

Entry-Level (0-2 years): These bookkeepers handle basic transaction recording, data entry, and simple reconciliations. They typically work under supervision, focusing on routine tasks like invoice processing, expense categorization, and basic financial record keeping. Entry-level bookkeepers are usually familiar with at least one accounting software system and have foundational knowledge of accounting principles.

Mid-Level (3-5 years): With established experience, these bookkeepers manage more complex functions including full-cycle bookkeeping, financial statement preparation, and analytical review. They work with greater autonomy, handle account reconciliations, assist with tax filing preparation, and may generate financial reports. Many mid-level bookkeepers have specialized industry knowledge and advanced software proficiency.

Senior-Level (6+ years): Senior bookkeepers in the Philippines typically oversee entire bookkeeping functions, implement accounting systems, identify process improvements, and provide analysis beyond basic reporting. They often have supervisory experience, deep software expertise, and specialized knowledge in areas like tax compliance or multi-entity bookkeeping. Many hold accounting degrees or professional certifications.

Hiring Models to Choose From

When hiring bookkeepers from the Philippines, companies can choose from several employment models:

Each model offers distinct advantages depending on your bookkeeping needs, budget, and operational structure. For companies seeking direct team management without entity setup, the Employer of Record in the Philippines model provides an ideal balance of control and compliance.

How to Legally Hire Bookkeepers in Philippines

Companies have two primary options for legally hiring bookkeepers in the Philippines:

For most companies seeking to hire bookkeepers in the Philippines without establishing a legal entity, Human Resource Management System Philippines solutions through an Employer of Record provide the most efficient path to legal employment. An EOR like Asanify becomes the legal employer while you maintain day-to-day management of your bookkeeper.

Step-by-Step Guide to Hiring Bookkeepers in Philippines

Follow these steps to successfully hire and onboard Filipino bookkeepers:

Step 1: Define Requirements
Develop detailed job specifications including required accounting software experience, industry knowledge, specific bookkeeping functions needed, reporting requirements, and work schedule expectations. Clearly define whether you need transaction-level support or more analytical capabilities.

Step 2: Choose Hiring Model
Determine whether direct hiring, freelance engagement, or using an Employer of Record best suits your needs. Consider factors like work volume, budget constraints, management preferences, and timeline when selecting your approach.

Step 3: Source Candidates
Utilize specialized job boards like JobStreet Philippines, Kalibrr, and LinkedIn. Consider partnering with accounting recruitment agencies familiar with bookkeeping talent. Tap into professional networks through accounting associations and referrals from trusted contacts in the Philippines.

Step 4: Evaluate Candidates
Assess candidates through practical bookkeeping tests that simulate real tasks you’ll need performed. Verify software proficiency through hands-on demonstrations. Evaluate communication skills, attention to detail, and problem-solving abilities through scenario-based questions.

Step 5: Onboard Successfully
Create a structured onboarding program covering your specific accounting processes, software systems, documentation requirements, and communication protocols. If using Asanify’s Employer of Record services, they’ll handle all employment documentation, payroll setup, and compliance requirements while you focus on operational training and integration.

Salary Benchmarks

Bookkeeper salaries in the Philippines vary based on experience level, expertise, and specialized skills:

Bookkeepers with certifications like Certified Bookkeeper (CB), ACCA qualifications, or specialized software expertise typically command higher salaries. Industry-specific experience in sectors like healthcare, real estate, or nonprofits can also increase compensation by 10-20%. Remote work for international clients typically offers premium rates compared to local employment.

What Skills to Look for When Hiring Bookkeepers

When hiring bookkeepers in the Philippines, evaluate candidates on these essential skills:

Technical Skills:

• Double-entry accounting principles mastery
• Proficiency in accounting software (QuickBooks, Xero, Sage, etc.)
• Bank and account reconciliation expertise
• Financial statement preparation and analysis
• Data entry accuracy and speed
• Spreadsheet proficiency (Excel/Google Sheets)
• Tax compliance knowledge
• Financial controls implementation

Soft Skills:

• Exceptional attention to detail
• Strong numerical aptitude
• Time management and organization
• Clear written and verbal communication
• Problem-solving and critical thinking
• Confidentiality and professional ethics
• Adaptability to different accounting systems
• Self-motivation and independence

Look for candidates who demonstrate both technical proficiency and professional attributes. Previous experience in your industry or with similar business models indicates transferable knowledge that can reduce onboarding time.

Legal and Compliance Considerations

Employing bookkeepers in the Philippines involves several important legal considerations:

Employment Contracts: Written employment agreements are mandatory and must clearly outline terms, responsibilities, and compensation. For bookkeeping roles, specific provisions regarding financial data access and confidentiality should be included.

Data Protection: Bookkeepers handle sensitive financial information, requiring compliance with both Philippine Data Privacy Act regulations and potentially international standards like GDPR if handling data from other jurisdictions.

Mandatory Benefits: Employers must provide SSS (Social Security), PhilHealth (healthcare), Pag-IBIG (housing), and 13th-month pay. These contributions are calculated based on salary and shared between employer and employee.

Working Hours: Standard work hours are 8 hours daily, with overtime regulations for excess hours. Remote bookkeeping often allows flexible scheduling, but proper documentation of arrangements is essential.

Intellectual Property: Clear agreements regarding financial systems, templates, and processes created during employment should be established.

Termination Procedures: Philippine law requires just cause or authorized cause for termination, with appropriate notice periods and potential separation pay.

Navigating these requirements can be complex for foreign companies. Asanify’s Employer of Record services ensure complete compliance with all labor regulations while providing specialized knowledge about the unique legal considerations for bookkeeping roles.

Common Challenges Global Employers Face

Organizations hiring bookkeepers in the Philippines typically encounter several challenges:

System Access Security: Providing secure access to financial systems and sensitive data requires robust IT infrastructure and security protocols.

Time Zone Differences: Coordinating financial deadlines across time zones requires careful planning, especially for month-end and year-end processes.

Knowledge Transfer: Ensuring bookkeepers fully understand your specific accounting procedures and business context requires comprehensive documentation and training.

Software Compatibility: Ensuring compatible technology and accounting software versions between your systems and remote bookkeepers’ setups.

Regulatory Compliance: Foreign employers must navigate Philippine labor laws regarding employment contracts, benefits, working hours, and termination procedures.

These challenges can be effectively managed through Asanify’s specialized Employer of Record services, which provide compliant employment structures while offering guidance on best practices for remote financial teams.

Best Practices for Managing Remote Bookkeepers in Philippines

To effectively manage Filipino bookkeepers, especially in remote arrangements:

Comprehensive Documentation: Create detailed process documentation including accounting procedures, chart of accounts, coding conventions, and reporting requirements. Maintain a knowledge base for consistent reference.

Secure System Access: Implement appropriate security measures including VPN access, multi-factor authentication, and access controls to protect financial data while enabling remote work.

Regular Communication Rhythm: Establish consistent check-in meetings to review work, address questions, and provide feedback. Create clear communication channels for urgent financial matters.

Quality Review Process: Implement a systematic review approach for financial outputs, especially in early stages of engagement. Gradually adjust oversight based on demonstrated accuracy.

Collaborative Tools: Utilize cloud-based accounting systems, document sharing platforms, and project management tools that facilitate collaborative financial work across distances.

Clear Deadlines and Expectations: Establish explicit timelines for financial processes, reporting deadlines, and response times for questions. Document these expectations clearly.

Professional Development: Support continuing education in relevant accounting skills and software platforms to enhance capabilities and maintain motivation.

Why Use Asanify to Hire Bookkeepers in Philippines

Asanify offers specialized Employer of Record services tailored to companies hiring bookkeepers in the Philippines:

• Compliant Hiring: All employment contracts, mandatory benefits, and tax requirements handled according to Philippine labor laws
• Rapid Deployment: Onboard bookkeepers in days rather than the months required for entity setup
• Data Security Guidance: Best practices for secure financial information handling in remote arrangements
• Financial Industry Expertise: Specialized knowledge of employment considerations for financial roles
• Simplified Administration: Single dashboard for managing payroll, benefits, time-off, and performance records
• Risk Mitigation: Reduced liability through proper employment documentation and compliance management
• Scalability: Easily grow your financial team as your business expands
• Local Expertise: Navigate cultural nuances and workplace expectations for higher retention

With Asanify, companies can focus on their core financial operations while we handle the complexities of legal employment in the Philippines.

FAQs: Hiring Bookkeepers in Philippines

What qualifications should I look for in Philippines bookkeepers?

Look for candidates with accounting or bookkeeping education (degree or diploma), relevant software certifications (QuickBooks ProAdvisor, Xero Advisor, etc.), and demonstrated experience with similar business types. While full accounting degrees are beneficial, many excellent bookkeepers have specialized bookkeeping qualifications or significant practical experience. Strong candidates typically have at least 2-3 years of hands-on bookkeeping experience.

How much does it cost to hire a bookkeeper in the Philippines?

Entry-level bookkeepers typically earn 18,000-25,000 PHP ($325-450) monthly, while experienced bookkeepers command 45,000-70,000 PHP ($810-1,260). When calculating total employment costs, add approximately 30% for mandatory benefits and taxes. Using an Employer of Record service like Asanify adds a service fee but eliminates compliance risks and setup costs.

What accounting software are Filipino bookkeepers familiar with?

Most Filipino bookkeepers are proficient in international accounting software including QuickBooks (Online and Desktop), Xero, MYOB, Sage, FreshBooks, and Wave. Many also have experience with ERP systems like NetSuite, Microsoft Dynamics, and SAP. Specialized industry software knowledge varies by candidate background. When hiring, verify specific software experience relevant to your business needs.

How do I handle confidential financial information with remote bookkeepers?

Implement comprehensive data security measures including secure access methods (VPNs, encrypted connections), detailed confidentiality agreements, access controls limiting data visibility to necessary information only, secure file sharing protocols, and regular security training. When using Asanify’s EOR services, we help implement appropriate security protocols and confidentiality agreements.

Can Filipino bookkeepers handle international accounting standards?

Yes, many Filipino bookkeepers are familiar with international standards including GAAP and IFRS. The Philippines’ accounting education system covers these standards, and many bookkeepers have experience working with international clients. For specialized requirements, look for bookkeepers with relevant experience or certifications in your specific accounting framework.

What is the typical working arrangement for remote bookkeepers?

Most remote bookkeepers work full-time (40 hours/week) with flexible schedules. Some operate on fixed schedules aligned with client business hours, while others work asynchronously with regular check-ins. Part-time arrangements (20-30 hours/week) are also common for smaller businesses. Clear documentation of working hours and availability expectations is essential regardless of arrangement.

How do I onboard a remote bookkeeper effectively?

Create a comprehensive onboarding plan including: access setup for relevant systems, detailed documentation of accounting processes and policies, training on business-specific requirements, introduction to key stakeholders, clear communication channels and expectations, regular check-ins during the first month, and gradual transition of responsibilities with appropriate oversight.

What technology setup do remote bookkeepers need?

Remote bookkeepers typically need reliable high-speed internet (minimum 10 Mbps), a computer with sufficient processing power, secure access technology (VPN), accounting software access, communication tools (email, chat, video conferencing), and potentially dual monitors for efficiency. Many employers provide software licenses while bookkeepers use their own hardware.

How do I evaluate a bookkeeper’s performance?

Establish clear performance metrics including accuracy (error rates), timeliness (meeting deadlines), completeness of financial records, proper documentation, reconciliation accuracy, communication responsiveness, and problem-solving initiative. Regular reviews of work outputs, particularly bank reconciliations and financial statements, provide objective quality assessment.

Can Filipino bookkeepers help with tax preparation?

Yes, many Filipino bookkeepers can assist with tax preparation by ensuring accurate financial records, proper categorization, and complete documentation. While they can prepare supporting schedules and help gather information, final tax return preparation typically requires expertise in your specific jurisdiction’s tax laws. Many bookkeepers work effectively with external tax preparers to streamline the process.

What legal documents do I need when hiring a bookkeeper in the Philippines?

Required documents include employment contracts specifying responsibilities, compensation, and working hours; confidentiality and data protection agreements; system access authorizations; and documentation of mandatory benefits enrollment. When using Asanify’s EOR services, we prepare all necessary documentation compliant with Philippine labor laws.

Conclusion

The Philippines represents an excellent source of bookkeeping talent, offering a unique combination of accounting education, English proficiency, cost advantages, and adaptability to various accounting systems. Building an effective remote bookkeeping relationship requires attention to communication, security, and systematic processes, but yields significant benefits in terms of financial accuracy and operational efficiency.

While navigating the hiring and management process may seem complex, the right approach and support systems make it highly manageable. Whether establishing a local entity or leveraging an Employer of Record solution like Asanify, companies can build effective, compliant bookkeeping operations that support their financial management needs.

With their combination of technical skills, attention to detail, and cost advantages, Filipino bookkeepers represent an excellent resource for global companies seeking to optimize their accounting operations while maintaining high-quality financial records.

Not to be considered as tax, legal, financial or HR advice. Regulations change over time so please consult a lawyer, accountant  or Labour Law  expert for specific guidance.