Outsourced Accounting Function

The basic idea behind outsourcing your accounting function is to eliminate the need to employ and manage a number of personnel or advisers to undertake the specialised tasks required to run your finance department.

In theory outsourcing enables the managing director to get on and run the business, secure in the knowledge that the finance function is being properly managed on a day-to-day basis. Reassurance is provided in the form of regular updates on financial performance, unlimited telephone support from a single point of contact and reliable financial information provided each month in an easy to understand format.

Outsourcing your accounting function can cover some or all of the following tasks depending on the level of support your business needs:

• All transaction processing and bookkeeping
• Raising fee invoices and credit control
• Supplier payment management
• Preparation of VAT Returns
• Payroll
• Preparation of monthly Management Accounts
• Providing Monthly Financial Performance Reports
• Preparation of Annual Financial Statements
• Tax Planning and Compliance
• Company Secretarial Compliance

 Please refer to our case study