WHEN IS BOOKKEEPING OUTSOURCING BENEFICIAL?

You must have already familiarized yourself with the content of the concept of “outsourcing” – the provision of services by a third organization in connection with the transfer of part of the responsibilities by management. In this case, we are talking about the duties of keeping accounting records, as well as several related tasks: calculation of contributions to funds, wages, tax reporting to the Federal Tax Service, etc.

Why outsourcing can be beneficial for you and your business? What are the benefits of reducing staff accounting? These questions will be answered by the specialists of the Capital Tax Advice.

Benefits of bookkeeping outsourcing: who uses it?

In terms of volume, outsourcing can be either complete, covering all the functions of an accountant in an enterprise, or partial. For example, management believes that in some areas a full-time specialist cannot cope and organizes “help” for him in the person of experts. This type of outsourcing of accounting services often becomes temporary and is especially beneficial for companies during the “peak period” before audits and with large business turnover.

The practice of outsourcing shows that in Moscow about 40% of firms use the Small Business Bookkeeping Services for accounting support, permanently or temporarily. Among them are not only large market players but also small companies. This suggests the following: the benefits of outsourcing do not depend on the scale of the business.

While for the leaders of large firms this is an opportunity to increase the speed of work and, possibly, expand the sphere of influence, for individual entrepreneurs and small enterprises it is rather a necessity. After all, it is not always convenient to hire a full-time accountant. especially when the amount of work does not provide a full-time workload.

There are four cases where outsourcing is beneficial:

  • A small amount of paperwork and operations;
  • There is no special need to keep the chief accountant;
  • There is no possibility to organize a workplace for accounting;
  • It is urgent to tidy up the accounting and submit reports.

A special case is foreign enterprises operating in Moscow: the management has practically no other choice but to attract specialists to accompany the accounting department (in order not to study Russian legislation at least). By the way, in Europe, more than 85% of companies work according to the outsourcing scheme.

Additional benefits from reducing in-house accounting

  • There is no need to select good specialists and take them for a trial period – “Capital Tax Advice” will provide you with already trained and involved in the work process accountants;
  • Reducing the cost of training, maintenance of premises, and purchase of document management programs;
  • The guaranteed positive outcome of audits by the Federal Tax Service, auditors – even if unplanned;
  • The absence of the “human factor” – the sudden illness of an accountant or the dismissal of his own free will.

Is outsourcing so safe in terms of leaking information to competitors? And how can you control bookkeeping from the outside? To avoid such doubts, you need to choose a proven organization that works under a clearly defined contract. It is this format of cooperation – transparent and reliable – that is offered by the Capital Tax Consultation company in Moscow. We will analyze the current state of accounting at the enterprise, together we will select the appropriate outsourcing option, and agree on the terms, responsibilities, and tariffs, which will be correctly reflected in the contract.

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Read More: How To Automate Accounts Receivable Process In Business? – fineavenue.com

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