Outsourced accounting services for small businesses

Accounting outsourcing involves delegating accounting tasks, such as bookkeeping, financial reporting, and tax preparation, to external service providers rather than handling them in-house. These providers typically specialise in accounting services and operate remotely, offering businesses access to professional expertise and resources without the need for an in-house accounting department.

Whether outsourcing accounting is cheaper depends on various factors, including the size of the business, its accounting needs, and the quality of service providers. While outsourcing can reduce overhead costs associated with maintaining an in-house accounting team, such as salaries, benefits, and training expenses, the actual cost savings vary depending on the outsourcing arrangement and the efficiency of the service provider.

People choose outsourced accounting services for several reasons, including cost savings, access to specialised expertise, scalability, and improved focus on core business activities. Outsourcing allows businesses to streamline their accounting processes, reduce administrative burdens, and gain access to advanced technologies and best practices without the need for extensive investments in infrastructure or staff training.

The average cost of outsourced bookkeeping services varies depending on factors such as the complexity of the business's accounting needs, the scope of services required, and the service provider's pricing structure.

On average, businesses can expect to pay anywhere from a few hundred to a few thousand pounds per month for outsourced bookkeeping services, with costs typically based on factors such as the volume of transactions, the frequency of reporting, and the level of customisation needed. Osome’s outsourced accounting services start at £71/m.