What does an outsourced finance function actually include?
Transaction processing, reconciliations, accounts payable and receivable, payroll, VAT, month-end close, a management pack with commentary, cash forecasting, and a finance lead you can call. Statutory accounts and the company tax return sit alongside it, so nothing falls between two providers.
Is it cheaper than hiring in-house?
Usually, yes, until you need someone full time. A single finance hire costs salary, employer's National Insurance, pension, software, training and cover for holidays and sickness. An outsourced team costs a fixed monthly fee, carries its own cover, and does not need recruiting or managing.
Can you work alongside a bookkeeper we already have?
Yes. A common split is that your bookkeeper keeps the day-to-day ledger and we take month-end close, reporting, compliance and the advisory layer. We agree who owns what in writing so nothing is assumed.
What happens when we do hire a finance person?
We hand over cleanly, documented processes, a working close calendar and reconciled ledgers, and usually stay on for the compliance and advisory work while the new hire runs the day-to-day. That is the outcome we plan for, not one we resist.
What records are needed for outsourced finance function?
Keep bank statements, sales and platform reports, purchase invoices, payroll records, VAT workings, finance agreements and Companies House correspondence. We confirm the exact list at onboarding and identify gaps before a filing deadline becomes urgent.
How much does help with outsourced finance function cost?
The fee depends on transaction volume, record quality, VAT and payroll requirements, historic catch-up and the level of reporting needed. We agree a fixed scope and price before technical work starts, with published packages available on our fees page.
Can you take over outsourced finance function from another accountant?
Yes. We request professional clearance, collect the prior records and authorities, check the next Companies House and HMRC deadlines, and give you one clear handover list. The process is normally completed remotely.
Can outsourced finance function be handled online?
Yes. We work through secure cloud records, scheduled reviews and digital approvals, while keeping a named team available by phone, video call and email. Clients can also visit our Morden office by appointment.
Which accounting software works best for outsourced finance function?
We regularly work with Xero, QuickBooks, FreeAgent, Sage and connected sales or expense apps. The right setup depends on transaction volume, integrations and the reports you need, not simply the software brand.
What tax deadlines matter for outsourced finance function?
The relevant calendar may include annual accounts, Corporation Tax payment and return dates, confirmation statements, VAT returns, payroll submissions and Self Assessment. We map the dates from your company year end and registrations.