How to outsource your accounting services for your business.

Have you ever considered that outsourcing your finances can be a perfect solution to your accounting and bookkeeping problems? Ignoring your accounts can lead to bad business decisions, without a strong business plan to take your business forward. A strong financial foundation with an expert on your side is a step toward having that plan in place.

So let’s talk outsourcing…..

“Outsourcing is a practice in which an individual or company performs tasks, provides services or manufactures products for another company.”

Full-service financial outsourcing turns into a utility and runs quietly in the background, allowing you focus on your core business.

Every accounting firm has different specialities, interests, and qualifications. Finding the right firm for your business needs will take time, but knowing your particular needs will assist you in finding the right team.

1. Once you know what your company needs from a financial perspective, whether it be taxes, payroll services, management accounts or bookkeeping services, start looking for someone that specialises in these set of skills. Also take into account your company growth and if that set of skills will be enough for your company in the future.
2. In the financial sector reputation is everything so check their credentials. Once you have found a company that suites your needs, do some research. Read online reviews and chat with others that have used those particular accounting services. Make sure that the company is qualified and registered with the relevant accounting and financial institutions. eg The South African Institute of Professional Accountants (SAIPA) and SARS.
3. Make appointments with several companies that you have chosen and bring along your set of questions. If the company you have chosen is not within your area of business, make a telephonic appointment. Preferably meet your outsourcing partner and evaluate their communication skills as this goes to building a good open working relationship. If you have in-house accounting skills, take them along to the meeting as they will generally do the outsourcing communication.

Make sure you have all your financials with you, building a good relationship with your accountant means getting to the core of your business and the services it requires. When it comes to your company and financial growth, there are no stupid questions, that is why we have specialists to deal with it. Be sure to get all your questions answered to your satisfaction. Once you have made your final decision on which Accounting firm to hire, make sure you are well aware of all charges and ask for a quote, after all we don’t want any surprises.