Today’s market offers a range of excellent accounting software for small businesses such as Xero, Sage, and QuickBooks. These intuitive cloud platforms can take care of every core accounting function and more, even managing your tax liabilities and investment forecasts for you.
However, many companies still choose to outsource their accounting to a trusted partner such as Vanilla Accounting. Today, we explain why this is, and how working with an outsourced accountant can save you time and money, even when equipped with the latest accountancy apps and gadgets in house.
1. Will Outsourcing My Accounting Lower My Costs?
If you are an SME, almost always yes. There are several reasons for this. The first is that accounting is very time consuming, and therefore costs you money. Learning new software can be highly laborious, while optimising it can take even longer. As such, many SMEs waste time and money grappling with unfamiliar tools while missing out on some of their key benefits. By working with an accountant, you can benefit from expert knowledge of both the software and business growth, vastly improving your opportunities for cost-effective strategic planning and financial management.
2. Can Outsourcing My Accounting Improve Its Accuracy?
Human error is one of the biggest pain points of SME accountancy. This is a time-based problem. Often, the workload of something such as payroll can contribute to the 27.5% of human errors that occur in on-site accounting. Frequently, it is the complexity of software that leads to these problems. As such, it is sensible to consider outsourcing some of the burden to experts who fully understand the processes and programs such as Xero, enabling you to guarantee error-free accounting.
3. Can Accountants Help With Business Strategy?
Arguably one of the main benefits of outsourcing your accounting is the insider knowledge that you gain. Around 40% of managerial time is spent on tasks such as strategic planning, which is a painful statistic considering that expert teams are available who can achieve successful results in minutes. Long-established accountancy firms have seen what does and what doesn’t work in business. We understand the numbers, and the truth that underpins them. We recognise patterns and trends, and can offer crucial advice about how to make the strategies work for you.
Next Steps
At Vanilla Accounting, we have been supporting small and medium enterprises for 15 years. We’ve seen the positive effects of outsourcing, and especially its time-saving benefits. To find out more, please contact one of our SME finance specialists today by clicking here.
Image source: Canva
