Getting Started with Outsourcing
The idea of outsourcing your accounting function to a specialist can seem challenging. However, you can quickly go through this process by following these steps:
Discuss what parts and how much of your accounting you want to outsource. It’s possible to outsource just certain processes or the entire function.
Do your research. Go online and find companies that match your requirements. Check out their references and ratings before making a final decision.
Shortlist specialists and reach out to them for additional information and quotes. Ensure you ask all the pertinent questions related to your needs. It’s also a good idea to verify their qualifications. Check whether they are recognised by institutions like ICAEW, ICAS, CIMA or ACCA.
Now, you’re ready to start working with your shortlisted specialist. Connect with them and discuss your requirements in-depth before creating SLAs and a contract. Review the final documentation and fees before signing the dotted line.
Provide the specialist with all the relevant information and documents required to do the job, such as bank statements, bills, invoices, receipts, credit notes, purchase orders and previous years’ accounts. Many specialists offer a checklist of items they require to do the job.
Regularly communicate with your specialist and review their work once ready.