Insights

The Pros and Cons of outsourcing bookkeeping

Nobody goes into business because they enjoy keeping the books.

One solution is to outsource that function to your accountant (if they provide that service – not all do).

So what’s the pros?

1. Greater accuracy of the records than if you do a DIY job.
2. Maintained up to date.
3. Possible to quickly obtain a monthly/quarterly P & L and Balance Sheet.
4. Outsourcing bookkeeping to your accountant should mean end of year statutory accounts preparation costs less.
5. Access to the best use of current technology.
6. You will stay up to date on the latest regulations.
7. You can pick and choose which services you wish to keep inhouse e.g. you may wish to continue raising sales invoices.
8. It can save money and reduce costs. If you are quiet you can scale down the requirement and not have to pay a salary as you would an employee.
9. Frees you and your team up to generate income.

And the cons?

1. Risk of choosing the wrong firm. Make sure you ask for references.
2. Make sure there are no hidden add-on costs.
3. Limited communication. Make sure you have a fixed point of contact who you have access to at any time.

If you would like a chat to discuss how C.I.K. Accounting Solutions can help please get in touch.

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A message from our founder

We are pretty sure you didn’t go into business to fiddle about with payroll, bookkeeping, VAT returns and HMRC forms.

Let’s face it. Running your own business can be difficult enough at the best of times and there’s one thing for sure – it isn’t getting any easier! You’re trying to keep so many plates spinning and juggling so many balls all the time to keep customers, staff, stakeholders and the bank happy. But who keeps you happy? You’ve got suppliers to pay, VAT, and all sorts of other taxes too.

You are looking for more profit and more return for all your hard efforts for you and your family.

Is now the time for you to get some more help? A plan? More controls? A different approach? Do you want things to happen better or faster?

If you can relate to even some of this this then maybe you need to make a call?

To show you we mean business I can visit you, at your convenience and without cost or obligation, at your business or home to develop a plan of action. You will know exactly what you will pay with us and there will be no hidden costs. Guaranteed.

What’s the worst case scenario?

Only that you will have some more ideas to take away.

But it could be the best call you ever make.

Jeff Wingham

Jeff Wingham studied at Dundee College of Technology (now The University of Abertay) gaining a BA in Accounting with commendation and was also a prizewinner in his penultimate and final years of his degree.

BA AFA MIPA

First Floor Offices
31 Hawkhill
Dundee
DD1 5DH

Phone: +44 (0) 1382 220263
Mobile:+44 (0) 7709 241918
Email: enquiries@cikas.co.uk

Hours of operation

Monday: 8:30am — 5:00pm
Tuesday: 8:30am — 5:00pm
Wednesday: 8:30am — 5:00pm
Thursday: 8:30am — 5:00pm
Friday: 8:30am — 5:00pm

(Evening consultations also available)