Trusted Accountancy Outsourcing Services by Affinity Outsourcing During the COVID19 Pandemic

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The novel coronavirus has brought the entire world to stand still, and this unfavourable standstill has damaged the economy of almost every nation hit by the COVID19. Not only in the United Kingdom, but small businesses across the world are trying hard to survive and overcome the negative effects of the COVID19 pandemic. Plenty of relief packages are announced by the UK government, but, many firms are not sure about the future of their businesses. If you are interested in learning more about the announcements made by the UK government to help and support small businesses, then please Click Here.

If you are an accountancy practice in London who paused their operations due to the COVID pandemic and how you need the help of experienced resources to get back on track while staying in budget, then feel free to contact us. We are Affinity Outsourcing, one of the leading outsourced accountancy services providers in London. We have a team of highly experienced and certified accountants and bookkeepers in London to support the small accountancy practices in London during and after the COVID19 pandemic. Here are some reasons, why Affinity Outsourcing is the best outsourcing accounting services provider during the coronavirus outbreak, and they are as follow:

Experienced and Certified Professionals

As mentioned before, Affinity Outsourcing has a significant number of skilled and certified personnel in accounting and bookkeeping related courses. By having a team of highly skilled and certified, Affinity Outsourcing offers high-quality work to their clients. In addition to receiving formal training related to financial and accounting practices, these professionals are also fluent in English, which makes it much easier for them to communicate with their clients and understand and cater to their specific needs.

Niche Knowledge and Expertise

The laws regulating certain financial concerns, such as accounting and filing taxes vary from one country to another country, and it depends on many factors, such as the nature of the business. As Affinity Outsourcing is a London based accounting outsourcing firm, it specializes in handling the accounts and books of clients based in London and across the United Kingdom. We have years of experience when it comes to working with UK based clients in different key cities.

Efficiency and Flexibility

A good accounting outsourcing firm should be transparent and efficient throughout the years, not just when it comes to handling the client’s financial details during the tax seasons. We offer our clients highly flexible and highly specialized bookkeeping services that cater to the current needs of their business. Affinity Outsourcing is committed to providing agile, scalable options to small and medium-sized accountancy practices in London.

Familiarity with Accounting Systems

Affinity Outsourcing is a London based accounting outsourcing firm; hence, we are well-versed all the past and latest accounting and bookkeeping laws set forward by the UK tax system. To gain a competitive edge, we have made it a point to educate and train our staff to use various accounting software and tools that are widely used by the accounting firms across the United Kingdom. This way, we can easily adjust to the systems and software used by our clients without any drop in the quality of service we provide.

If you are an accountancy practice in London looking for quality outsourced bookkeeping services in London, then contact Affinity Outsourcing at https://affinityoutsourcing.net. Contact us for a free demo and consultation, so that we can help you understand the advantages of outsourced bookkeeping services and how it can help your practice grow. To learn more about our services and how we can help your accountancy practice in London thrive during the COVID19 pandemic, please call us at 0203-848-4450 (London).

Benefits of Outsourced Accountancy Services for Small Businesses in London

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Irrelevant to size and domain, accurate accounting services are vital for the success of any business. Being an accountancy practice in London, if you are unable to find an experienced accountant to manage your clients’ accounts, then there is an option of outsourced accountancy services. Plenty of accounting firms (from sole practitioner accountants to established practices) have benefited themselves by using outsourced accountancy services from companies like Affinity Outsourcing. If you are still scared of trying outsourced accounting services, then here are some top benefits to motive you to go for Outsourced Accountancy Services for your business in 2020, and they are:

  1. Frees You Up for Other Important Business Works: When you forward your accounting tasks to outsourced accounting firms like Affinity Outsourcing, you make yourself available for other important business tasks. You will have an ample amount of time to think about business and business growth. Moreover, offloading yourself will offer you extra time, which you can spend with your family and friends.
  1. No Need to Worry About Accuracy: Accounting outsourcing firms in London like Affinity Outsourcing have teams of highly qualified and experienced accountants to finish the job in the most professional and accurate manner. By partnering up with an outsourced accounting firm, you can feel confident that only the most qualified individuals are handling your finances in an unbiased and objective manner.
  1. Easily Meeting Compliance Requirements: Accounting experts at outsourced accounting firms are well-versed with the existing and the latest regulatory requirements. They always stay abreast about trends in the accounting industry to offer the most up-to-date accounting services. You can gain peace of mind by knowing that your clients’ accounts are managed following the latest tax compliance.
  1. Outsourced Accounting Service are Competitively Priced: Competitive pricing is one of the most common reasons that attract businesses towards outsourced accounting services. By outsourcing your accounting tasks, you can save a lot of money that would have to spend on payroll, training, and infrastructure. All this money can be utilized in expanding your business.
  1. No need to struggle to meet deadline: When you are accountable to meet your client’s deadline and are beneath immense pressure, Affinity Outsourcing can help you to meet those deadlines and will relieve you from day to day pressure of work. You can feel safe in knowledge that we are here to help you.

If you are overwhelmed by the benefits of outsourced accountancy services, and if you are anxious to know more about Outsourced Accountancy Services works, then please Affinity Outsourcing at https://affinityoutsourcing.net.

We are offering a free trial to every business that wants to explore and experience the potential of outsourced accounting services. To talk to our business consultant, you can also call us at 0203-848-4450 (London) or send us queries/contact details at info@affinityoutsourcing.net.

How Outsourced Accounting Services Work with Affinity Outsourcing: Explained in 5 Simple Steps

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Being an accounting firm in London, did you ever thought of offloading yourself with the help of outsourced accounting services? If yes, then Affinity Outsourcing is always there for you. But, if you are new and don’t know much about the flow of outsourced accountancy services, then here we are about to explain you how the outsourced accounting services work.

At Affinity Outsourcing, we tailor each engagement to our clients’ needs, but our process can typically be explained in five basic steps. Here’s a brief explanation of how the process of outsourcing would work:

Step 1: You Contact us with your Requirement

Whether you are an established accounting firm or a sole practitioner, gaining better financial insight is the key to making informed and productive business decisions. If you are spending your time trying to gather and organize your financial data rather than using that information to drive business growth, then it is recommended to ask for expert help. Being an experienced and established outsourced accountancy firm in London, we can assist you with a wide variety of financial needs. When you contact us and share your financial concerns, we summarize a plan that fits your requirements and budget.

Step 2: Customized Service Based on Requirements and Budget

When you contact us, we can figure out what you need and what will help you the most. Once you share us requirements, we thoughtfully work on it to come up with some truly practical solutions that offer you a free time and boost your growth. We will set up an accounting system based on the unique requirements and other needs of your business. We have flexible packages to ideally match your business requirements and budget. However, you don’t find a relevant package, then we have the option of customized services.

Step 3. Establish a Flexible Work Module that Fits Your Budget and Needs

Like other outsourced accounting service providers across the UK, we do not bind our clients in a contract system. We have flexible hiring modules to meet the unique requirements of our clients. We charge our clients a flat monthly rate based on transaction volume, how the work will be performed, and other factors.

Our outsourced accounting services are cost effective, and it can be tailored to fit your budget and requirements every month. For sure, you will be amazed at how much our services can save you in terms of money and time, not to mention the peace of mind.

Step 4. We Assign a dedicated Team to You

We always strive to the most trusted partner, and not just an ordinary outsourced accountancy firm in London. When you partner with us, we will assign a team of experienced bookkeepers, accountants and a project manager to dedicatedly work with you. These highly skilled resources have the experience of working with businesses like yours and can deliver much needed insight into your financial data. Your dedicated account manager will provide oversight and ensure timeliness and accuracy.

Step 5: Establish a Secure Medium for Sharing Financial Details

For us, data provided by our clients are highly precious and sensitive; therefore, we establish a highly secure way to share financial information to exchange the financial details. All client data is stored on our secure servers in the UK, with access in our delivery center via a ‘dumb’ terminal.

Here’s How Outsourced Bookkeeping Services Saves Your Accountancy Practice in London

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Small accounting firms or a sole practitioner in London often cannot afford to hire a full-time/experienced bookkeeper and accountant. In such a situation, they handle all of their bookkeeping and accounting from the start. However, as the business expands, the workload increases and demands more time and financial expertise. Here arises the need for professional outsourced bookkeeping services that can save you from plenty of seen and unseen business errors.

Professional outsourced bookkeeping services in London can save you and your business from below mentioned business risks, and they are;

Saves You from Inexperienced Resources:

When your business is at the starting phase, you cannot afford to hire expensive experienced resources, and when you go for inexperienced players, there are chances of inaccuracy in the accounts.

Whereas, when you partner with an outsourced accounting firm like Affinity Outsourcing, you work with experienced resources at unbelievable prices. Moreover, professional outsourced bookkeeping services stay abreast of the industry’s latest technology and have the ability to test new systems before recommending them to their clients.

Partnering with the best-outsourced bookkeeping services provider will give your business access to the best, vetted bookkeeping and accounting services and technology with built-in ongoing support.

Saves You from Unexpected Employee Errors:

Sometimes, even when you hire an experienced bookkeeper to take care of your books and maintain other financial records, your business is still at risk of human errors.

Outsourced bookkeeping services provider has a team of professionals to take care of each client’s accounts with built-in checks and balances to ensure accuracy and timeliness.

Saves You from the Penalties for Non-Compliance:

In the absence of experienced and skilled bookkeeping professionals who stay updated with the ever-changing tax regulations, your business is at risk of non-compliance.

Any error made during the calculations or filing the returns can incur hefty fines and penalties. Moreover, it can also ruin the image of your business and put your license at risk.

Saves You from the Surprising Cash Flow Issues:

Any business that is operating without tracking its financial transactions and records will soon encounter a serious cash-flow problem. Usually, the cash flow problem occurs when the money is flowing out of a business than is flowing into the business. Well-managed financial records allow businesses to forecast their cash flow and implement strategies to stay afloat during a cash flow shortage.

An outsourced bookkeeping and accounting service can help you manage your financial transactions in the most professional manner and update you about your company’s financial status every month via monthly reports. Monitoring your company’s cash flow becomes easy with the help of outsourced bookkeeping services. Also, it saves you from running short of money when you need them the most.

Saves You from Forgetting Receivables:

If you are not hiring an experienced bookkeeper or accountant, then there are chances that your company may fail in accounts receivable. As a result, your business will not receive payment in a timely fashion; thereby, creating cash flow issues.

With outsourced bookkeeping and accounting services, the timing of your payables and receivables will be synced to make sure your company is financially stable, and you have the cash you need when you need it.

Outsourced Bookkeeping Services in London

Affinity Outsourcing is an outsourced accountancy firm located in London. With a team of highly skilled bookkeepers and accountants from across the UK, we are committed to helping accounting firms and sole practitioners to take control of their finances by offering unique outsourced bookkeeping and accounting services. We lessen the bookkeeping burden and deliver actionable financial intelligence designed to help you grow your business.

By outsourcing your bookkeeping and accounting functions to Affinity Outsourcing, you can ensure that your financial operations are well managed. We offer outstanding client service with a dedicated UK-based team of a bookkeeper, staff accountant, and accounting manager who provide the expertise you need.

To know more about our services and how they can help you expand your business, kindly contact us for a free consultation https://affinityoutsourcing.net.

Why Accounting Firms in London Are Increasingly Outsourcing Tax Preparation?

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Plenty of accounting firms in London are looking abroad in hope that outsourcing accounting, bookkeeping and other tasks may consolidate their business and offer them free time to focus on more productive work.

Some of the common tasks to outsource are bookkeeping and tax return preparation, and small-scale accounting firms and individual accountants in London have been benefiting from affordable labor costs and fast turnaround times that an outsourcing company offers. Outsourcing accounting tasks such as bookkeeping and tax preparation have numerous advantages and accounting firms have achieved good results.

Listed Below are 6 Reasons Why Accounting Firms are Outsourcing Accounting Services:

1. Compared to all other reasons, the most common reason behind outsourcing is the expansion of the business. Likewise, procuring new clients turns out to be simple when you outsource accounting and bookkeeping services. Whenever accountancy practices in London outsource their tax preparation tasks, they get a longer time to pay attention to the important requirements of the clients.

2. Whey you hire an in-house resource, then there is a rise in the operating cost of the firm.

3. Losing a client is the nightmare for any firm, and when you outsource your accounting tasks to the offshore businesses, you can magnify your return by having to pay less. Additionally, there is no need to lose those valued clients as it may transpire if you happen to be caught up with crucial tasks.

4. Another crucial reason of outsourcing is the fact that you obtain a premium quality work job within the agreed time period.

5. Working with an outsourcing company like affinity for bookkeeping and accounting tasks is quite simpler as compared to dealing with an in-house team of accountants.

6. You possibly can boost the efficiency of business whenever you get a pool of qualified staff pertaining to an outsourcing company.

At Affinity Outsourcing, we can take care of bookkeeping and tax preparation for accounting firms very well. To know more about our outsourced bookkeeping and accounting services, get in touch with us today at 0203–848–4450 or mail us at info@affinityoutsourcing.net. We offer no-obligation quote and free consultation.

Accounting Outsourcing Services, London – This Is How You Can Effectively Handle Your Remote Employees

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Remote staff can be gigantic resources, who can give sensible help in an extensive variety of positions in small and medium-size accounting firms. By minimizing expenses without relinquishing the quality, organizations around the world have possessed the capacity to rethink the work environment condition and handle nontraditional models in new and innovative ways.

When it comes to Accounting Outsourcing Services in London, finding and enlisting the correct remote staff can be like that of finding a local accountant nearby, however a little diversely as the interviews, tests and every other procedure is carried out over the web. That is another story in any case. When you require to pull the correct representative, contract just the best, and keep a group of remote staff stimulated and upbeat, these tips will help guarantee you’re heading the correct way.

Find the Right Fit for Your Company

Hiring a team of talented bookkeepers is a huge challenge for many small and medium-sized accountant firms in London, UK. Reviewing the resumes of the candidates, interviewing those candidates, and discussing their salaries, all these processes take a considerable amount of time away from your existing obligations, which may end up hurting the business in the long run. That is the reason behind an ever-increasing number of firms in London looking for Accountancy Outsourcing Services, which saves a lot of time and effort.

Fast Hiring

Compared to past days, the job market has improved impressively, and the candidates currently have high ground. This implies that the hiring process of candidates is longer and more troublesome than in years past. “Great talent becomes harder to find, and it becomes extremely time-consuming for firms reviewing resumes and conduct interviews, all while still being responsible for their day-to-day operations,”

“Working with a trusted outsourcing accounting services provider can save time and money. An outsourcing company can prescreen and qualify candidates to ensure you always interview those candidates who are a fit for the role.”

Testing the Skills

Accounting Outsourcing Firms allow the accounting firms in London to hire a bookkeeper or an accountant from a huge pool of talented resources instead of being limited to the geographic locations. The hiring procedure of a remote staff is like procuring any in-house employee. You will have the complete resumes of the candidates from which you can hire a candidate as per your need and convenience. You can also go for a video call if you wish to know more about the candidate’s qualifications and overall work experience in the industry. Over a video call, you can cover a wide variety of subjects such as software skills for programs like QuickBooks Online and Xero, accounting principles, journal entries, financial statement generation and analysis, and more. When you are happy with candidates’ abilities, you can employ them.

Advantages of Accountancy Outsourcing Services:

There are plenty of advantages of accountancy outsourcing services, and affordability and credibility stay atop of the chart. You get access to an entire team of bookkeepers with years of experience that specialize in your exact business. Here’s a Small List of Benefits:

  • Saves time and money after training the employees
  • Recourses can be adjusted as per the requirements
  • Don’t have to worry about taxes, payroll, etc.
  • Extremely affordable and least risks of attrition

You need to find a responsive and reliable staffing company that can give you the specific care and service your business requires. If you wish to know, how Outsourcing for accounting practices can help your business, please contact us at https://affinityoutsourcing.net. We offer a free consultation to understand your bookkeeping requirements.

Accountancy Outsourcing Services in London: Is Your Business Ready?

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Business pioneers frequently search for approaches to deal with their organizations utilizing a savvy dispersion plan, private companies and business people discover more imaginative approaches to accomplish their business objectives, these plans bind one of the inquiries that choose for the future utilization of their assets: “Who will chip away at it?”

Outsourcing is ordinarily characterized as an outside administration gave by another business association practicing on the requirements of an organization like extra assets, programming, or innovation all incorporated into a type of a bundle paid each due contract. However, beyond the description of contractual service, an executive should ponder all the underlying factors that lead the company to outsource.

In an article by Forbes on key outsourcing, is it said “Knowing how and when to outsource can be confused, notwithstanding portraying can be entangled. Organizations by and large outsource in two different ways: they outsource a solitary segment of their everyday tasks, or they build up outsourcing as a vital piece of their business”, this implies outsourcing can simply prove to be useful however it doesn’t really ensure accomplishment until the point when you decide certain administrations that your organization is allowed to give up for activities.

Fund and bookkeeping hold a standout amongst the most basic data for an organization as the procedure capacities as an illustrative numerical guide of the considerable number of exchanges of the organization up to its income development. Managing payroll, auditing, tax consultations, and the like are one of the responsibilities held on this area, which means more information, more workload, more paper, and more resources.

On the off chance that a business pioneer has picked to outsource its assets for finance and accounting, what could be the focuses to consider if the organization is prepared to work with an outsider association? Here are the accompanying tips to effectively decide a modified administration bargain:

Systemized Work – Proposed work process with innovation will undoubtedly work with human intercession to control quality and lessen human blunders, F&A exchanges will have the opportunity to wind up robotized and incorporate a procedure recommended by the outsourcing accomplice.

Time and Tools – Access to present-day gear, for example, cloud innovation, cryptographic money, and hard machines advanced adaptability and more information stockpiling. This additionally empowers paperless correspondence and a bigger workspace for office workplaces, liberating them to a pile of papers that hold the most seasoned exchanges.

Experience and Expertise – An outsourced staff should hold passing capabilities, for example, training, benefit understanding, work state of mind, and accessibility. These assets are an augmentation of your organization and will speak to you as indicated by their exhibitions and development.

Training – Outsourcing doesn’t end on getting outer resources to take a shot at the necessities of your organization, a business owner must be prepared to invest in training the designated representatives of the company, and must offer all the details that will serve as their guide in terms of onboarding.

In this constantly rising industry where associations and rivalry is a blend of business achievement, a rising business leader of administration and innovation must experience operational choices that lie between remaining in customary method of bookkeeping or wandering in an advanced stage offered by outer associations that makes utilization of their specific administrations to enhance properties of the organization.

Affinity Associates has an extensive variety of services that help businesses flourish globally. With more than 30 years of experience and its exceptional pool of talents in finance and investment, Affinity can manage accurate and timely accounting reports to ensure that you keep your earnings positive and under control.

If you are planning to change the game plan then, Affinity’s Accounting Outsourcing Services in London and across the UK may help you out. Find more by contacting us here https://affinityoutsourcing.net. For a free Consultation, just dial 0203–848–4450.

Ever Heard About Research & Development Tax Credits? If No, Here’s How It Can Benefit Your Business

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Organizations ( especially small and large) over the UK are passing up a huge number of pounds worth of Research and Development (R&D) Tax Credits that can support the cost of new workers, hardware, re-put resources into encourage advancement, or notwithstanding paying out profits.

Presented by the UK Government in 2000, R&D Tax Credits is intended to energize advancement by enabling organizations to recover a portion of the cash they have spent on building up another, or enhancing a current, item, administration or procedures.

Misfortune influencing SMEs to can guarantee R&D Tax Credit reimbursement from HMRC of up to £33.33 for each £100 spent on qualifying R&D use. Benefit influencing SMEs to can assert R&D Tax Relief which decreases their organization charge by up to 230%.

Regardless of the advantages, under 1% of all qualified UK organizations have ever constructed a claim in view of its apparent many-sided quality and a misconception of what constitutes qualifying R&D action.

R&D Tax Credits Is Not Limited To Tech Or Science

It’s astonishing what number of organizations trust R&D Tax Credits is just accessible to tech new businesses or science labs. This just isn’t valid.

Any business can meet all requirements for R&D Tax Credits insofar as long as they burn through cash on building up another, or enhancing a current, item, administration or process that constitutes a “progress” in science and innovation.

Cases of a “progress” in science and innovation could be an eatery making another formula, a bottling works exploring different avenues regarding another 16 ounces or a business endeavouring to streamline its IT with some restrictive cloud innovation.

Unsure If Your Project Qualifies For R&D Tax Relief? Contact Affinity Outsourcing On 0203–848–4450 For Free Clarification or Visit us at https://affinityoutsourcing.net/

Qualifying R&D Expenditure

You can guarantee cash back on qualifying R&D use, for example, staff costs, subcontractors, consumable materials and gear, utilities (power, water and fuel) and PC programming.

Time Limit

Research and development Tax Relief claims must be presented no later than two years after the year’s end in which the cash was spent. For instance, a business with a bookkeeping year end of April 30th 2017 has until April 30th 2019 to assert or miss out.

Affinity Outsourcing – Specialist R&D Tax Team On Your Side

Affinity outsourcing is a UK owned and managed company providing a range of accountancy and tax services to UK accountants through offices in the UK and India. We are here on your side with more than 30 years of experience. For further information, dial 0203–848–4450 or email info@affinityoutsourcing.net. We also offer a free consultation.

Top 5 Points to Consider Before Opting for Outsourcing Accountancy Services for your Business in the UK

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Accounting is considered as one of the most vital aspects for any business. Yet, at the same time it is one of the most painful, rigorous and bone crunching process that almost no business entrepreneur is interested into. To be honest, no one likes to play with accounts and its other relevant aspects such as tax, bookkeeping, balance sheet, etc. This is why most businesses in the UK, now consider to opt for outsourcing accountancy services. So if you happen to be one in the same field, than here are the Top 5 points to Consider Before Opting for Outsourcing Accountancy Services for your Business in the UK:

1. Experience

Experience of the outsourcing first is the first and foremost factor to be consider. Try finding out beforehand how old the outsourcing firm, how many years of experience does the firm have and how many years does the firm accountants have in handling and managing accounts of the UK businesses.

2. Expertise

With experience comes along the expertise. It is not necessary that all outsourcing accountancy firm possess all knowledge pertaining towards your business. Chances are that your business may not require outsourcing of only accountancy services, but also other services such as bookkeeping, and the firm may not possess such knowledge. In addition, some outsourcing firms may have expertise dealing with only small businesses accounts, some may large, and all these factors should be taken into consideration.

3. Team Strength

So you have find a firm who can help you out with your accounting, has enough experience and expertise, but are they able to deliver you the services on time. What if they themselves are loaded with work and are limited with resources in-house. You do not want your work to be delayed, right. So when the above two points are marked with yes, than confirm about their team strength, so you could get your work delivered on time.

4. Reference Check

The next thing that one should consider prior outsourcing their accountancy work in the UK is about the reference check. Ask for client references, see how their clients were satisfied with their work. This way you will be able to gauge properly and select the one which could turn out to be the best.

5. Affordability

Last but not the least, affordability. Irrespective to how great the accountancy outsourcing service provider is, but if it is out of the budget than it’s a strict no go. You should opt for the one, who matches in line to your budget. Try doing some research, and look for the ones who offer great on-time service, and within the budget. This does not mean that you should look for the cheapest option, yet looking for the affordable one indeed.

If you’re still confused, than contact us at Affinity Outsourcing today.