Outsourcing accounting: advantages of outsourcing accounting to an external trustee

Proper accounting is essential for a start-up or an SME, companies are therefore faced with the decision to keep their accounting in-house or outsource it. For many startups and small business owners, keeping their accounting in-house is a big cost driver that has nothing to do with their core business and also ties up resources unnecessarily. So what are the exact benefits of outsourcing accounting to an external accounting firm?

1. Cost reduction personnel

Since no one has to be hired for the accounting, you save on salary costs on the one hand, and on the other hand there are no costs for sick leave or vacation. Also personnel recruitment and training costs are completely eliminated. In addition, the effective costs for a workplace are often estimated far too low, since factors such as office rent, cleaning costs, electricity, IT costs per employee, etc. are not included. Another advantage is that the service contract with the trustee, unlike the employment contract of an employee, can be terminated without any labor law problems arising.

2. Cost reduction software

Purchase and monthly license fees for software are expensive. The purchase of a financial and payroll program, the maintenance as well as the training of the users is reflected in the books. The clear advantage of working with a trustee is that due to the large number of clients, they only have to bear a fraction of these costs.

3. Liability transfer

The great advantage of outsourcing your accounting is that you transfer the liability to your trustee. In this way, you are not liable for possible errors in your accounting, thus reducing your risk.

4. Minimization of errors

Complying with legal requirements and maintaining an accounting system is complex. This increases the probability of committing errors, which can bring some risks for a company. Fiduciaries employ specialized staff who are highly experienced, continuously educated and always up to date. In addition, fiduciary employees gain unique know-how by working with a large number of different clients, which significantly reduces the risk of errors.

5. Focus on core business

By outsourcing the accounting, they can fully focus on their core business and the trustee takes care of the time-consuming rest. You can then leave the process optimization and implementation of the latest developments in the accounting area to your trustee, whose core business this is.

6. Strategic consulting

Your fiduciary knows all your figures and can therefore get a comprehensive picture of your company. In addition, he is a specialist who brings experience in a wide range of business areas due to the large number of mandates he has from various industries. Therefore, fiduciary services often go hand in hand with business analysis and consulting and can thus represent a real added value for a company.

Outsource your accounting? Let’s work together.

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