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Outsourcing year end accounts production

Recommendations for outsourced accounts production

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We are looking for recommendations for outsourcing of some of our year end account preparation. We work primarily with Quickbooks online and use TaxCalc for statutory accounts preparation so ideally we would need an outsoucer who's systems are compatible with those.

Ideally we want to keep the work done in the UK.

Who have you used, would you recommend them?

 

 

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By Richard Grant
14th Jul 2020 06:34

Both are cloud based so you should have no problem, make sure the book keeping is clean and employ a couple of sub contractors who work on line.

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By tom123
14th Jul 2020 08:09

Who was it who said "never outsource your core competence"?

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By ireallyshouldknowthisbut
14th Jul 2020 08:42

Someone with a business that lasts more than 5 minutes.

but many firms are just sales functions and just churn the accounts prep on a "look ma no hands" basis which will I guess work for a couple of years before the clients wise up. And many I guess never do.

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Replying to ireallyshouldknowthisbut:
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By tom123
14th Jul 2020 08:48

In many ways, I expect my arena of 'in house' finance work to go the way of outsourcing. Many of our large customers and suppliers seem to have pushed what would have been UK accounts jobs overseas.

These same customers seem to change 'outsourcer' every couple of years too.

But, if you take accounts 'prep' from an accountancy practice I am not sure what you have left.

Yes - everyone (in all sectors) likes big premium projects, but it is the bread and butter stuff that keeps the lights on.

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By DJKL
14th Jul 2020 09:34

The rise of the Uber of accountancy; prepare no accounts, do no tax work but instead just create an App and do lots of marketing.

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Replying to ireallyshouldknowthisbut:
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By Mr_awol
12th Feb 2021 10:50

ireallyshouldknowthisbut wrote:

but many firms are just sales functions and just churn the accounts prep on a "look ma no hands" basis .

And doesn't it generally tend to be people without any accountancy qualifications* (or even background) that do this?

I personally wouldn't sleep at night having sent accounts out that hadn't been prepared by either me or at least by an employee whose strengths and weaknesses i knew fairly well. I suppose it also depends on your location - big city, loads of clients and also loads of firms on the doorstep and no real reputational risk, fine. We are in a fairly small town and often see clients on the HighStreet (used to see them down the pub, once upon a time) and many of them talk to each other.

* this isn't a JS-styled slur on 'unqualified' obviously. I mean most firms I've come across who extensively outsource are run by people with a sales/marketing background, not actual trained accountants. Many of them wouldn't, I suspect, be able to check the work they're white-labelling.

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By velan
12th Feb 2021 08:37

blackdust567 wrote:

We are looking for recommendations for outsourcing of some of our year end account preparation. We work primarily with Quickbooks online and use TaxCalc for statutory accounts preparation so ideally we would need an outsoucer who's systems are compatible with those.

Ideally we want to keep the work done in the UK.

Who have you used, would you recommend them?

 

 


Important Benefits Of Outsourcing Your Accounting Function
https://velaninfo.com/rs/accounting-service/benefits-of-outsourcing-acco...
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By Mr_awol
12th Feb 2021 11:35

Generally I'd avoid it. The only reason i see for outsourcing is if either:
1) You are outsourcing a service you either cant do, or an ancillary service you don't want to bring in house (payroll, specialist tax services, etc)
2) You are pushing capacity and need the odd bit of pressure release here and there.

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