External accounting: How to find the right accountant

What is external accounting?

External accounting is when a company commissions an external person or an external company to do the bookkeeping, i.e. to record the financial transactions of a company and to prepare financial statements such as balance sheets and profit and loss statements.

An external accountant not only saves time and money because there is no need to fill a full-time position, but can also offer added value by offering specialized expertise and feeding reports directly into tax software.

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Does outsourcing accounting make sense for my company?

If you don't have time to do bookkeeping yourself, or if you don't have any accounting experience, outsourcing can save you time and money while ensuring that your financial data is accurate. Companies or external persons who specialize in accounting are also more objective and usually have a lot of experience in communicating with the relevant authorities.

Who outsources their own bookkeeping?

Outsourcing accounting is becoming increasingly popular as a business strategy, particularly among small and medium-sized companies. There are several reasons why outsourcing accounting makes sense:

• Accountant with specialized knowledge:
  Your company may need services that can only be provided by professionals. This includes, for example, the reconciliation of complex annual financial statements or the preparation of financial reports for internal or external use. In these cases, it is helpful to hire someone with experience in similar areas of responsibility.
• Companies in the growth phase:
  Let's say a company is growing fast and has drastically increased its revenue in the last one to two years. Then it might be time to think about outsourcing important accounting tasks that take up too much of your team's time and resources. These may include tax returns, payrolls, and other routine tasks necessary for a viable business to run smoothly without sacrificing quality control standards.

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What are the benefits of outsourcing accounting?

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When outsourcing accounting, you first think of cost savings. Some companies, especially smaller ones, cannot afford their own accounting department or a full-time accountant. An outsourced accountant has experience with various types of companies and their systems, so he is able to help the company organize accounting without additional costs.

• Lower costs: By outsourcing accounting, up to 50% of costs can be saved. Because it's no longer necessary to hire a full-time accountant or spend money on software that isn't needed. This leaves more time to focus on growing the business and improving operations instead of spending time on paperwork or documenting finances.
• Higher productivity: If you don't have to deal with daily accounting tasks, you have more time for your core business. Because regular and accurate bookkeeping takes quite a bit of time. And we're not even starting with the preparation of annual financial statements and tax returns...

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How much does external accounting cost?

Outsourced accounting is affordable for many companies, but the exact costs depend on several factors. First of all, you should consider what kind of accounting services you need.
With Numarics, you can easily do your bookkeeping digitally, via app and powered by AI. For you, this means that you will be able to manage your accounting on your mobile phone in the future.

Find out everything about our services here:

Digital accounting

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Findings

• Outsourcing accounting gives you time to focus on other aspects of your business
• Money can be saved by using an experienced company that is familiar with various accounting services
• The key is finding the right company for your needs
• In order to find the right accounting company, you should first consider exactly what you need
• Numarics provides innovative accounting solutions for all needs
  
  

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