Five benefits of outsourced accounting
We understand what it’s like to work in a fast-paced environment. When you have so much to do and only so many hours in the day, it can be a relief when you’re able to hand over some of your more cumbersome tasks to an outsourced professional.
That’s why many accounting firms decide to outsource some of their work to an experienced firm. If you can lighten the load, why not take the opportunity?
If you’re considering outsourcing, here are five reasons why it might be the best choice for you.
Having an expert eye
One thing you can usually guarantee is that if you decide to outsource to an experienced accounting team, you’re paying for the support of sharing your workload with another firm that will get things done quickly and efficiently.
Because your outsourced firm will have the sole focus of monitoring your client’s accounts, you won’t have to worry about them being distracted by other jobs, which could happen if your team are juggling multiple clients at the same time.
Not only that, but your outsourced accountant will have a wealth of experience working with businesses of all shapes and sizes and can bring that knowledge to the table when it comes to your client’s accounts.
Cut down on costs
It’s never been more important to lower your firm’s expenditure, especially with the current state of the economy. This is why outsourcing could help. Not only will you be able to share your growing workload, but you’ll be able to save money on your staffing costs.
Outsourcing will allow you to pay when and if you need the services of your external accountant. This can be much more cost-effective than onboarding any more in-house accountants. You won’t have to pay employers’ National Insurance contributions (NICs), holiday or sick pay or even into a pension. The firm will be doing all of that already.
If you’re considering outsourcing some of your clients’ accounting processes to an outside firm, it’s likely that your workload is starting to build.
Handing over some of the more repetitive and standard jobs (such as bookkeeping and payroll) to another firm could help you take a step back and refocus your team’s efforts on some of the more important (and more profitable) services your firm provides.
Keeping on top of compliance
As your outsourced accountant will be working with a number of clients, it’ll be their job to stay abreast of any changes in the financial sector. This could be the latest Making Tax Digital compliance or Government tax updates – either way, they’ll be able to reflect any of these changes in their work.
Similarly, outsourced accounting firms will be using the most relevant and recent technology available, meaning any work you hand over will always be meeting the current standard.
Giving your team some time
Most of your standard accounting tasks (like a client’s self-assessment) can be time-consuming for your team, especially when they start to stack up. Claim back your and your team’s valuable time by handing over these repetitive and cumbersome jobs to an outsourced firm (like ours).
This extra time could prove invaluable, especially if you’re deciding to grow and expand your firm or even focus on strengthening your client relationships.
Outsource to us
It’s easy to fall into the trap of trying to cope with the ever-growing workload you face when running an accounting firm, but with our outsourced accounting services, you’ll be able to focus on your role rather than your client’s payroll.
Get in touch to discuss our outsourced accounting services.