I'm looking to employ/outsource - any advise?

I'm looking to employ/outsource - any advise?

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Hello,

I am a sole-trading accountant who also does bookkeeping, payroll, admin etc, but it's getting too much as I'm spending so much time on low-paying work that I can't do the high-paying tax advice etc properly.

So the logical solution is to get someone else to do it.

Should I employ/sub to a qualified accountant (believe it or not there are ACCA CTAs who are offering themselves for £10ph as a subcontractor) or maybe an experienced bookkeeper?

Would I be better off with an inteligent school leaver who I can train from scratch?

If I take an accountant as a subbie, how do I ensure they aren't going to steal my clients/undercut me etc?

 Maybe to outsource to India, but after reading the previous thread (https://www.accountingweb.co.uk/anyanswers/india-outsource-problem) I'm not too sure

Any ideas?

Replies (4)

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By User deleted
25th May 2010 08:20

I am in exactly the same boat as you
I have outsourced 4 sets of accounts, and it took me longer to fetch & collate all of the records, pick the accounts apart, make corrections, redo the tax, put on my own software than it would of to have done the accounts from scratch. So this is a no go for me.

Employee wise, why would I want to introduce a part qualified to all of my clients? It's obvious they will set up on their own one day - recipe for disaster, as any contract will have 'restrictive covenants' which in practice are unenforceable.

The only logical conclusion I have drawn is to employ an older, mature, experienced bookkeeper on a part time basis. The problem with this is they charge £15-20 per hour in my area, so i'm going to have to find one who is willing to work for £10 per hour on a fixed part time basis.

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By Bob Harper
25th May 2010 10:04

Depends on your strategy

If you want to build a business then employ some and get the resource you NEED not just want you can afford. But, before you do that it can be worth thinking about the systems.

I've recorded a 15-minute video for Crunchers on "How to Build a Brilliant Bookkeeping Business" - in the frist 15 minutes I explian where time has the most leverage.  The numbers are different for an accountancy practice but the principle is the same. Don't want the middle or last bit because that's about making money from bookkeeping and promoting Crunchers.

Doing tax will get you more than bookkeeping but it's no where near as valueable as you investing your time in the sales and marketing.  So, get someone who can do everything and free yourself to build and manage your business as opposed to getting stuck doing operational work.  I can put you in touch with people who will tell you the same.

If you don't think you can afford it, get a business loan/overdraft.  If the bank won't support you then sell something, remortgage or get an investor because your business drives everything, you have 100% control and the return will be far more than any other investment.  That assumes you have total believe in yourself.

By the way, I heard Sir John Havey-Jones talk and he said grow at half a person and do it from your garage.  I think half a qualified person who will free half your time maybe the best option.

Bob Harper

Portfolio Marketing

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By Tosie
25th May 2010 16:22

self employed book-keeper

Have you considered introducing the client to a self employed book-keeper ?

We no longer do book-keeping or paye but have links with self employed book-keepers which we semi introduce to the client making sure that the client realises the relationship.

This can work to your advantage as they may bring clients to you.

Look for somebody aware of their own limitations.

It is hard to turn work away in the early years but both paye and bk are just too time consuming to be bothered with.

 

 

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By adrian11
25th Nov 2010 14:14

Payroll Outsourcing

Have you thought about using a fully managed payroll outsourcing service such as ours? We provide a service to over 40 accountancy practices who prefer to delegate all aspects of payroll processing to us, leaving them free to focus on more valuable, less time-critical work. We handle all aspects of your clients' payroll from the weekly or monthly phone call, fax or email through liaising with HMRC on their behalf to producing security payslips and reports. All you need to do is invoice your clients each month for our services.

If you'd like to know what our cleints say about us, please visit our web site www.payroll-svs.co.uk.

Adrian Coppola, MD Payroll Services.

 

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