OUT SOURCED BOOKKEEPING
Our outsourced bookkeeping service is a unique support service that will provide you with the time that you need to develop your business on a strategic level. By letting us do the technical and mundane tasks, you will have more time to do the parts you love doing! We mainly focus on businesses with an annual turnover of between £200,000 and £500,000.
Traditionally businesses at this level would be run by the owner who would do everything to deal with strategic business issues and routine technical aspects of accounting such as invoicing clients, depositing funds collected and paying the suppliers once a month. Their control mechanism lies on the day to day checking of their bank balance. They do not have a periodic management account service that can provide reports either monthly or quarterly. Usually, business owners at best organise their affairs once a year looking at all the invoices raised, payments taken, bank statements etc., and pass them to their accountants for the preparation of statutory year-end accounts and tax returns.
This process adds no value to the business activities except to meet legal compliance at the end of every year. We have come across many such businesses in our 11 years of trading. Some owners do not have a clue whether the business is profitable of loss-making because they do not have accurate and actual costs that the business has incurred other than an estimate of the major costs. They do not have timely and effective financial reports that assist them to take corrective action. They leave it for the complete 12 months and when they finally look at the outcome of their efforts it is too late to remedy the areas of the business that are struggling.
Experience has shown that in general, this kind of business will make no significant progress and most likely only survive a few years. If you don’t want your business to fall into this category and would like to see it grow, let our outsourced bookkeeping service help your business to thrive.
How do we do it?
- We send our trained staff to organise your record keeping at your business premises
- We take a complete assessment of your business and its transactions once you appointed us to deal with your business record keeping duty and more.
- Once assessment is done we determine how many days and hours our staff requires to spend at your premises and the reports we produce and how often.
- We want you absolutely to be worry free and to have a complete peace of mind.
- Our trained staff will organise your office documents, record them on one of our cloud based accounting software and generate a monthly management accounts to help you with your decision making process.
- you will have a peace of mind knowing that your financial affairs has been taken care of and you have enough time at your disposal to do what you love doing.
- You will not be kept in dark, you will be trained how to use the software to login so that you would be able to look at the key financial information while you are on the go or at home relaxing on the sofa.
- You also will benefit from our timely and current expert advice and implement what we suggested to grow your business.