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Planning to Outsource your Accounting Work? 3 Important Steps to Consider

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Are you an accountancy firm in London and believe you are ready to join the flow and partner with an outsourcing accounting firm? But, before you initiate the relationship, has your partner tick all the boxes? Have you set some working guidelines for each other? Are you really ready for accountancy outsourcing services? Are the security guidelines and policies in place? Has a GDPR agreement been signed?

Even if you believe you have ticked all the boxes, there are some hidden critical aspects that may cause problems down the road as the relationship moves forward. Fortunately for you, Affinity Outsourcing is here to help. With more than 30 years of industry experience, we have an in-depth understanding of every single and tiny issue that can lead to problems between an Accountancy firm and the service provider.

Here Is The Checklist Of Steps You Should Take Before Choosing Your Accounting Outsourcing Firm.

1. Summarize Strong Data Security Guidelines

When you decide to work with an accounting outsourcing firm, you are sending your clients’ financial data to your partner, and this generates the risk of misconduct. So how do you ensure that the financial data you’re sharing with your outsourcing partner is safe and secure?

Your accountancy outsourcing firm will update you about the steps they take to maintain data security.

In fact, a reliable and confident outsourcing service provider will inform you about all the measures they take to make sure data security is well preserved and in order. And with GDPR coming into force on 26 May 2018, it is important to check the following:

  • GDPR Data Processing Agreement
  • ISO 27001 Security Assurance
  • Other Security Protocols such as;
    • Secure client login
    • 256-bit SSL encryption
    • Anti-virus/ Spam /Spyware manager
    • 24/7 surveillance systems
    • Daily server backup
    • 24×7 by trained security guards
    • Biometric systems
    • Disabled USB ports
    • Clear desk policies
    • Limited internet access unless there’s a process requirement
    • Continuously monitored web-access

2. Make Sure Your Outsourcing Partner has Multiple / Flexible Communication infrastructure

The outsourced accounting services don’t work properly unless your outsourcing partner has flawless communication arrangements and the right infrastructure.

If your partner is working over the cloud, then they will need to join through secure virtual technology like RDP, VPN, Citrix, or GoToMyPC; hence, make sure they have all the vital technologies in place.

Flawless communication via a 2×2 MB International Private Leased Circuit (IPLC) line is required if you outsource an accounting partner is located in countries like India. Make sure your outsourcing partner has such technology. Communication via IPLC lines creates a next-level telephony experience. Video chats tools like Slack, Google Hangouts, and Skype are also truly useful when it comes to flawless communication.

When you decide to work with an outsourcing firm, you better set the communication expectations with your partner.

3. Visit the Offices of Your Overseas Partner

You should visit the office of your outsource partner at least once a year – Meet your overseas team. This is because nothing substitutes a face-to-face meeting to build relationships. This will make you feel as if your outsourcing firm is working as an extension of your accountancy practice.

Get in touch with Affinity Outsourcing, Today

If you are planning to outsource your accounting tasks, then make sure you follow these 3 steps. These three crucial steps will help you evaluate the right outsourcing company for your outsourcing needs.

At Affinity Outsourcing, we have the experience and understanding of working with Accounting Firms in London, Harrow, Wembley, and other parts of the United Kingdom. Get in touch with us today at https://affinityoutsourcing.net for a no-obligation consultation or utilize a free trial to see if outsourcing can benefit your accounting practice.

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.

Is Your Practice Getting Stagnant? Consider Accountancy Outsourcing Services

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Are you operating an accounting practice in the UK? Are you feeling that your practice is getting stagnant lately? Maybe, it is now time that you consider accountancy outsourcing services in the UK from a professional firm like Affinity Outsourcing.

These days, numerous accounting practices in the UK are becoming stagnant, considering that they are being swamped with trivial tasks, such as bookkeeping and payroll accounting, which are not only time consuming but less lucrative as well. By getting bogged down and burned out with such petty tasks, it is obvious that you will not be able to focus on bringing new clients and taking on any new work.

By engaging accountancy outsourcing services in the UK at Affinity Outsourcing, however, you will surely be able to pull your practice out of stagnancy. By outsourcing some portion or the entire accounting work of your clients to Affinity, you will be able to free yourself and your staff from the monotonous, low fee jobs. And, instead, you will be able to focus more on the expansion activities as well as the value-added accounting services of your practice, which are more profitable.

Outsourcing of accounting services is totally normal. And, if you collaborate with a reputable accountancy outsourcing provider in the UK, then there are almost no risks involved.

Many accounting practices and accountants across the UK are already engaging accountancy outsourcing services, and they are doing exceptionally well too! Not only were they able to pull their practices out of stagnancy, but in fact, were able to improve their margins too.

Read how an accountancy firm in London with less than £90,000 GRF (gross recurring fees) was able to increase its GRF to over £250,000 with our quality Accountancy Outsourcing Services.

Affinity Outsourcing is the leading provider of accountancy outsourcing in London, UK. With over three decades of experience in the accountancy practice, Affinity helps all those accounting firms and accountants who want to increase their profit margins, expand their business, and improve client satisfaction.

The professionals at Affinity Outsourcing will efficiently handle almost every accounting function of your practice, be it bookkeeping, taxation, payroll, or typical accountancy. Highest quality, on-time delivery, and clients’ data security are the top concerns of Affinity; hence, you would not have to worry about anything by partnering with Affinity Outsourcing.

There are no long-term contracts and just clear, simple pricing, which is predominantly defined to be in your best interest! Discover how our pricing works here.

Want to pull out your practice from stagnancy? Want to increase your margins? Want to improve your client satisfaction? Get in touch with Affinity Outsourcing today and seek high-quality accountancy outsourcing services. Currently, we even offer to run a free trial job so that you can see and understand just how much your practice can benefit from our accountancy outsourcing services. To contact, please head to our ‘Contact’ page now https://affinityoutsourcing.net/contact/.