Why you should outsource your accounting

May 10, 2022 | Annual accounts

At Condies, we’re big believers in helping the clients we’re proud to work with do things as proactively, efficiently and effectively as possible.

And, having worked with businesses of all shapes and sizes throughout Scotland for many years, we know that one of the best ways to tighten up the way you run things can be outsourcing. When it comes to accountancy and finances, it’s often best to let the experts take care of it. Here’s why.

Why should you outsource your accounting?

It might not seem like an obvious choice when you’re trying to grow your business – why would you pay someone to do something that you might be able to do in-house?

But, in truth, there are lots of reasons why thinking about outsourcing your accounting can be a great move.

For one, if you outsource your accounting, you won’t need to pay for additional members of your team to do it for you – saving you money in direct salary costs that you could reinvest into your business.

Or, if you’re currently looking after the numbers yourself, think about it this way: with an expert looking after the books, what could you do with all the extra time you’d find yourself with?
Chances are you didn’t go into business to spend your time poring over your finances – but we did. By handing it over, you’ll be able to focus on what’s important.

It’s not just about saving time or money, though.

Outsourcing your accounting comes with great peace of mind – and the security of knowing that your finances will always be accurate, up to date, and kept on top of. When you work with a good professional, you know the numbers will be right, deadlines will be met, and they’ll let you know of anything that crops up before it becomes a problem.

If you’re trying to manage your business’ money yourself, on the other hand, it can be difficult to keep on top of best-practice ways of working – and you might inadvertently leave yourself open to security issues. With outsourcing, that’s not a concern.

Finally, when you outsource your accounting, you know you’ll always have the support of a trusted professional to help with any questions or concerns about your money. And, because it’s what they do day to day, accountants will also have established software and automated workflow processes that mean your finances can be handled more quickly and effectively, too.

What sort of things can I outsource?

If you’re sold on the idea of outsourcing your accounts, but not sure where to start, there are several areas that you might find useful to consider:

  • Payroll – this can be a really time-consuming process for you as a business. But, because it’s so repetitive, it makes it the perfect contender to outsource to professionals who’ll prepare everything and make sure your team is paid on time and correctly each month.
  • Bookkeeping – this is another repetitive process, but good accountants will make easy work of keeping your accounting records up to date.
  • VAT returns – VAT can be complex, but having a professional to make sure you’re collecting the right amount, making payments and filing returns on time can be a lifesaver.
  • Making Tax Digital – MTD is already here for some businesses, and will be coming soon for others. Outsourced accountants are well-placed to help you make the transition from paper to digital, making sure you’re using HMRC-compliant software, too.

At Condies, our outsourcing services mean you can delegate your entire finance function – from bookkeeping to payroll and everything in between.

Get in touch to find out more about how we can help you.

Find out more about how we help our clients