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Accounting
David Merz | Founding Partner
Zurich, April 12, 2023
If you run a business, you know how important it is to have proper and efficient bookkeeping. But what are the costs involved, and how can you minimise them? In this article, we look at the various aspects of bookkeeping costs and show you how the services of Nexova Treuhand AG can help you save time and money.
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Accounting costs can be divided into three main categories:
Personnel costs are the largest in accounting. These include salaries, ancillary wages and further training costs for accountants and financial specialists.
In Switzerland, the average annual salary of an accountant is around CHF 75,000 to CHF 85,000, depending on experience and location. In addition, there are social security contributions, pension fund contributions and other ancillary wage costs.
Accounting requires the use of software and IT infrastructure. Depending on the size of the company and its requirements, the costs for accounting software, updates, licences, hardware and IT support can vary. In Switzerland, the price of accounting software can range from CHF 300 to CHF 1,500 per year.
Companies often need external advice from tax advisors, auditors or trustees to optimise their accounting and meet legal requirements. The cost of external advice varies depending on the expertise, industry and scope of the desired services.
Efficient accounting uses modern technologies to automate processes and reduce time. For example, digital management of receipts and automatic posting of incoming payments enable faster and more accurate processing. These technologies can save on personnel costs and avoid errors.
The use of cloud-based accounting solutions offers many advantages, such as location-independent access, automatic backups and easy collaboration between internal and external partners. In addition, they reduce the costs of hardware, IT infrastructure, and software updates.
Outsourcing accounting to specialised fiduciaries such as Nexova AG is an effective way to reduce costs while benefiting from the expertise and experience of the service providers.
Outsourcing accounting eliminates the cost of hiring internal accountants and provides the company greater flexibility. In addition, external trustees can often use more efficient processes and technologies to optimise accounting.
Whether to handle accounting internally (in-house) or through an external service provider (outsourcing) is a key question for businesses. In this section, we compare the advantages and disadvantages of both options and give you valuable insights to help you find the best solution for your company.
Many companies prefer to handle their accounting internally to retain control over their finances. With in-house accounting, you can monitor your financial processes more closely and react flexibly to changes in the company.
Advantages of internal accounting:
Disadvantages of in-house accounting:
Outsourcing your accounting to an external trustee offers many advantages, such as cost savings and access to expertise and sophisticated technologies. Outsourcing your accounting allows you to focus on your core business while benefiting from the trustee’s expertise.
Advantages of outsourcing:
Disadvantages of outsourcing along with their solutions:
The best solution for your company depends on your specific requirements, resources and goals. To make the right decision, you should consider the following questions:
After carefully considering these questions, you can make an informed decision as to whether in-house accounting or outsourcing is best for your company.
Remember that there is no universal solution it comes down to finding the right balance between control, cost and efficiency for your specific situation. The accounting solution you choose should be that which best helps you achieve your business goals and supports your company’s growth.
Imagine being able to focus fully on your core business while feeling secure that your accounting is in the best hands.
As your competent and reliable partner, we offer you a comprehensive range of customised accounting and fiduciary services specifically tailored to your needs.
Nexova AG understands the importance of accurate and efficient accounting processes. Our team of experienced professionals uses cutting-edge technology and industry-leading best practices to ensure that your accounting is always in line with the best and latest standards.
We offer you the full range of accounting services, from financial and payroll accounting to preparing annual financial statements and tax returns.
At Nexova AG, we know that every business is unique. That’s why we take the time to understand your requirements and develop customised accounting solutions that suit your business perfectly. With our flexible approach, we can provide the optimal solution for businesses of all sizes and industries.
Cost control and transparency are crucial for businesses. Nexova AG offers a user-friendly, transparent price calculator with which you can easily determine the prices for your desired accounting services.
Simply enter your relevant data, and the budget calculator will provide a detailed cost estimate. This tool lets you know exactly what to expect without hidden costs or nasty surprises!
Calculate the cost of your accounting easily here.
Bookkeeping is essential to any business and can be a significant cost. Outsourcing your accounting can help solve these costs and provide many other benefits.
Starting with cost efficiency and access to expert knowledge to flexibility and scalability, outsourcing your accounting can take your business to the next level.
Nexova AG can help you transition to more efficient and cost-effective accounting. Our expertise and tailor-made solutions help you achieve your business goals and allow you to direct more time and resources to your core business.
Take advantage of this opportunity! Explore the benefits of outsourced accounting with Nexova AG and discover how we can strengthen your business together.
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