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4 Reasons That Make Outsourced Bookkeeping Services in Worth Considering

There are plenty of accounting practices and accounting firms across the UK that at their growing phase, and find it difficult to juggle between their day to day tasks and essential business activities. Reaching that elusive million-dollar mark in their annual revenue suddenly makes them feel burdened of managing their own accounting and tax related tasks. This is the time, when there rises the need of professional outsourced bookkeeping services that makes them free and helps them maintain accurate and up-to-date financial records. Here are the 4 most common reasons that make outsourced bookkeeping worth considering, and they are;

  1. You Get Professional Services: Well, this is what we all want, and this is what you get when you decide to partner with an established outsourced accounting firm in London. Outsourced bookkeeping services help an organization to get its accounting and bookkeeping work done in a professional way. Also, you save yourself from the hassle of hiring and maintaining a separate team of accountants and bookkeepers.
  1. Your Savings Increases: Setting up an in-house team of bookkeepers can be expensive. You need to pay them every month along with other expenses. Moreover, you need a senior, experienced accountant to oversee the operations, who would have to be paid well. Therefore, a recommended way to save these costs and also get professional services is using outsourced bookkeeping services. These companies charge you minimal; thereby, increasing your profit margin.
  1. You get Tax and Audit Ready Financials: When you use outsourced bookkeeping services, your financials are accurate and ready for tax and audit. You don’t have to worry about the quality of the services, as the books are 100% accurate as they are prepared under the supervision of experts.
  1. You Can Scale Up Your Business: When you are expanding, it all starts with small requirements, but in no time, these small needs rapidly grow into full suite necessities and bookkeeping is one of them. Hiring an outsourced bookkeeping service with controller oversight and a full-service offering enables the service to scale to needs, without having to hire or train additional staff.

Outsourced bookkeeping services are truly rewarding for accountancy practices across the UK. They have all the tools, experience, and zeal to maintain your records perfectly. Interested in finding out more about how you can outsource your bookkeeping? Contact us for more information! Email us at info@affinityoutsourcing.net or dial 0203-848-4450 to talk to our experts.

Outsourced Bookkeeping Services in London and It’s Advantages

The accountancy sector is more competitive than ever for accounting practices across the UK. In order to stay on top of the competition, accountancy practices do not only have to deliver quality services consistently at reasonable rates, but they also have to be more flexible in their work schedules.

It is no wonder why many accounting practices across the UK get exhausted, considering that they are bogged down with petty tasks, such as bookkeeping, taxation, and payroll accounting, which are time-consuming and not exactly profitable.

Normally, accountancy practices have to take care of a lot of things for their clients, some of which are:

  • Handling the financial books of the clients and ensure that they are accurate
  • Managing of the payroll accounting on behalf of the clients
  • Helping the clients stay in compliance
  • Addressing the personal and corporate tax matters of the clients
  • Advising on financial and business growth matters

Looking at all these and some of the other tasks that accountancy practices need to take care of for their clients, how do you think they can sustain their own business? If you are a proprietor of an accounting firm, facing such issues, then like others, you should definitely consider outsourcing for accounting practices.

Outsourcing for accounting practices is the best option to set your accountancy firm free!

Take bookkeeping, for instance. It is time-consuming and not very lucrative. It is, of course simple, but bookkeeping requires a high degree of attention and needs to be done accurately. Therefore, if you decide to consider outsourced bookkeeping services to offload the bookkeeping task of your clients, then you will be able to save a whole lot of time!

Outsourced bookkeeping services allow accountancy practices in the UK to use their time more efficiently to focus on their value-added / profitable services, such as audit, tax planning, and financial advisory services.

  • Advantages of outsourced bookkeeping services:
  • Highly skilled and trained bookkeepers to complete the tedious task of bookkeeping
  • Quick turnaround time
  • Accurate bookkeeping production work in your desired format
  • Eliminate overheads of additional staff, workstations, and extra workspace
  • Engage the services whenever the need arises
  • Give you more time, so that you can focus more on the value-added services of your accounting practice

Many accountancy practices are already engaging outsourced bookkeeping services in the UK and are benefiting a lot from doing so. If you haven’t engaged outsourced bookkeeping services for your accounting practice, then it is still not too late! Get in touch with a reliable provider of outsourcing for accounting practices in the UK, like Affinity Outsourcing, and engage them for top-quality outsourced bookkeeping services.

Want to learn more how we can set your accountancy free while improve your margins at the same time? Contact us http://affinityoutsourcing.net/contact

Quality & Professional Outsourced Bookkeeping Services are Real for Small Businesses in London

Outsourced bookkeeping and accounting services have been around the world since long. Three out of five small businesses are sure to have tried one or the other accounting services of those outsourcing companies. However, there are some small businesses having a certain stigma with outsourcing. Due to some bad experiences, some business owners are just not comfortable divulging their company details to complete strangers, let alone delegate a portion of work to them!

Companies indulged in outsourced accounting services understood this concern and come up with innovative ways to get people to try their product /service. The coolest thing about this is, it seems to work. The amount of people opting for such Outsourced Bookkeeping Services seems to increase day by day. Outsourced bookkeeping services are almost risk-free and just as easy as sending across any other task as long as you follow certain precautionary measures.

If you are planning to hire an accounting firm to take care of your books and other accounting tasks, then here are some ways to ensure safe outsourcing of your bookkeeping tasks, and they are;

1. Take help of Google and other online mediums to know more about the reputation of the company you are planning to hire. Also look for its presence across social media such as Facebook, Twitter and LinkedIn. Most importantly, read up reviews and testimonials about the company.

2. Go through the website, and see if details such as price plans are clear. From the content of the website you would be able to judge the standard and attitude of the company towards work.

3. Don’t just go for only one company – compare the price plans and features with other websites offering similar services.

4. Make sure the company uses all the secure measures of data transfer.

5. Always request an interval call of the resource you are planning to hire for your accounting tasks. This will also help you get insight into the quality of work you can expect from them.

6. Always ask if you could avail a free trial to test their services.

Along with above mentioned points, also try to figure-out whether the company is professional or not. If the company is not replying to your emails or phone calls in a short span of time, then that’s not a good sign. A professional accountancy outsourcing company like Affinity Outsourcing is attentive to every detail and regularly communicates with potential clients. A willingness to answer all of your questions in a timely manner, and with the proper degree of professionalism, is a good characteristic that will set apart a good bookkeeping service from a great one.

Moreover, do not undervalue the power of good customer service; hopefully, you will eventually be one of the clients leaving excellent feedback for the company in the future.

Make sure you follow these tips when considering outsourced bookkeeping services for your small business in London. To know more about Outsourced Bookkeeping Services and how it works, please feel free to contact Affinity Outsourcing for a free consultation http://affinityoutsourcing.net.

Summary

Signs that Indicates Your Small Business in Ready for Outsourced Bookkeeping Services

Being a small business owner, most of the time you are occupied in running your business ignoring some important tasks such as managing your books. Moreover, you cannot afford to hire a fulltime in-house bookkeeper to track your financials. Or, make the switch to an outsourced bookkeeping service provider to save time, money and quite frankly, the headache that comes with bookkeeping.

1. You Cannot Spend More Time on Your Core Business Processes: Back office tasks such as inventory reporting, payroll as well as managing receivables and payables are very important. However, they take a significant amount of time away from your core business.

Outsourcing your bookkeeping needs transfers these critical tasks to a team of experts, freeing up your time to focus on value-added activities such as building better client relationships, exploring new partnerships and expanding your business.

2. Your In-house Resource Has Let You Down Too Many Times: Many small businesses hire part-time or fulltime bookkeeper to manage the books, but what if your part-time in-house bookkeeper:

  • Is unable to keep up with changing tax regulations?
  • Often goes on vacation for two weeks?
  • Leaves you entirely without informing?

Although this is a conventional way to find a bookkeeping solution for your business, when you’re relying on a single person to keep your books up-to-date it leaves your business at risk. By hiring an outsourced bookkeeper to manage your books, you gain access to an entire team of professionals who are available whenever you need them to be. This ensures business continuity and also gives you peace of mind.

3. Your in-house Resource is More Expensive: Aside from the risk of entrusting your precious financial documents to a single person, there is also the issue of cost. A typical full‐time bookkeeper can costs you something your small business cannot afford.

On the other hand, the outsourced bookkeeping services are more dependable and affordable than the full time or part time bookkeepers you hire. Outsourced bookkeeping services are at a fraction of the cost of having someone in-house who may or may not be meeting your business requirements in the first place.

Contact Affinity Outsourcing for Bookkeeping Services

As your small business shapes into a large one, Affinity Outsourcing allows you easily customize the scope of work required and tailor solutions to fit your budget. Leveraging our scalability means you get to save the time, cost and hassle of adding personnel in-house.

To know more about our bookkeeping services, please visit us at http://affinityoutsourcing.net. We free consultation and quote as well.

Top Tips to Effectively Manage Bookkeeping Tasks

Managing books is not an easy going business to most small business owners. However, it is one of the most important task that can make or break your business in the long run. If you are a small business with lots of books to manage but don’t have a robust system in place for tracing your day to day financials, then this blog has some useful tips for you so that you can effectively manage your books in the coming years.

#Tip 1: Select a Bookkeeping Method: There are 2 bookkeeping methods – the single and the double-entry methods. However, the former ideal for a business that has a very simple structure and a low volume of activity.

Most businesses use single-entry method to maintain the records of the financial transactions in a simple spreadsheet, with a single entry for each transaction. However, it is necessary to note that this method does allow you to anticipate your cash flow needs as it does not track accounts like inventory, accounts payable or accounts receivable.

If you wish to benefit from these insights then you need to use double-entry bookkeeping. With this methodology, every transaction affects two accounts — in other words, for every debit in one account, there must be an equal credit in another.

#Tip 2: Properly Categorize Transactions: Maintaining business transactions in a proper account is one of the most fundamental principles for small businesses that use the double-entry method.

There are five account types; hence, classify your accounts accordingly;

  1. Assets
  2. Liabilities
  3. Equity
  4. Revenue
  5. Expense

To avoid any missteps, we strongly suggest you in investing in accounting software like QuickBooks which will help you to select the right accounts based on your industry and transaction type.

#Tip 3: Track Accounts Receivable: More than likely, your business does not always collect payment the very instant you deliver a product or service to a customer. And without a strong accounts receivable system, you may run into cash flow problems very quickly. The accounts receivables management process must include:

  • An efficient invoicing platform that allows you to bill customers quickly; and
  • A robust collections system to follow up with late paying clients.

Working with an online bookkeeper will help you to streamline the steps involved in billing your clients. For example, Outsourced Quality Bookkeeping can customize and send out invoices on your behalf in a timely manner. Furthermore, we can send collection notices to delinquent customers so you don’t have to spend precious time chasing payments each month.

#Tip 4: Reconcile Your Accounts: Whether you use a bookkeeping program like Quickbooks, an Excel spreadsheet or just a good old fashioned ledger book, the ultimate goal of bookkeeping is to reconcile a trial balance, which means the final total of debits and credits must match.

This can be a tedious process since it involves comparing your record of transactions to your bank statement and being able to explain any discrepancies but it is essential if you want to have an accurate view of your cash flow position and know exactly where your business stands each week or month. In addition, it also provides an important starting point for you to forecast cash flow and plan for future expenses. Finally, bank reconciliation also helps you to detect fraud, prevent overdrafts and identify any banking errors.

Time to Consider Outsourced Bookkeeping Services: For some business owners, keeping up with the steps described above might sound like a fun challenge; but for most, it sounds like a nightmare. If you fall into the latter category, the good news is that you can consider Outsourced Bookkeeping Services at Affinity Outsourcing. We can take these small business bookkeeping tasks off your plate so you can focus on forging a lasting competitive advantage in your industry.

Contact us today http://affinityoutsourcing.net to see how we can help you save time and money with our small business bookkeeping solutions.

Tips to Efficiently Manage the Real Estate Bookkeeping Forever

While the worldwide real estate industry is by all accounts is developing at a promising rate, business owners associated with this industry have been confronting a few difficulties generally, for example, credit crunch, decreased loaning, diminished development, lull, lessened costs of business properties, value befuddle amongst dealers and purchasers, less developments occurring, and so forth. According to a report by Forbes, the industrial real estate sector is anticipated to perform better in 2018 when contrasted with commercial real estate. Truth be told, the worldwide land industry income is anticipated to increment in the following 5 years.

As the real estate industry provides plenty of opportunities for high volume exchanges, it is vital that players in the worldwide real estate keep an eye on the inflow and outflow of cash, almost at a regular basis. However, business owners associated with the real estate find it difficult to maintain books of accounts themselves. Bookkeeping regularly can help you stay over the top of your financial standing.

Tips for Efficient Real Estate Bookkeeping

#1: Update your Accounting Books Timely:

Bookkeeping, of course, is a fastidious procedure and it must be discovered that all books are refreshed frequently to limit blunder and provide greatest visibility. Frequently, small real estate firms tend to overlook the accounting tasks as a result of the dreary idea of the undertaking.

In the event that you think that keeping up records or undertaking these unremarkable strategies isn’t for you or your business, your accounting (bookkeeping) can be outsourced to associations or specialist organizations which not just deal with your fundamental accounting needs, but also takes care of basic bookkeeping needs such as account maintenance, ledger services, forecasting and budgeting, but also undertakes a lot of bookkeeping related services such as, financial reporting including risk assessment, profit and loss statements and maintaining expense ledgers and balance sheets.
#2: Perfectly Record Maintenance:
Whatever is the domain of your business, it is necessary that you maintain a perfect record of all transactions. However, compared to other industries, real estate deals with huge amounts of money at a rapid pace with quick and powerful decision-making powers. With a specific end goal to guarantee that all exchanges move easily, it is indispensable to have an unblemished record book. Your accounting can be as basic as Microsoft Excel spreadsheets, and perhaps a tryst with QuickBooks or more modern, complex choices, for example, FreshBooks, BusinessWorks, Buildium, and so forth.
#3: Classify Costs Correctly:

The real estate industry is filled with a few little costs going out in every single distinctive heading; therefore, it is critical to keep up a perfect record of every such cost. Equally important is to classify costs correctly. Hard expenses are easy to maintain. They are for the most part straightforwardly connected with the item and usually make up for 70% of the project costs. They are substantial elements and for the most part a decent estimator will have the capacity to land at this number at an early stage absent much room for give and take. The staying 30% of expenses must be painstakingly investigated and delegated required in order to maintain a strategic distance from future mistake or torment.

Choose Affinity Outsourcing to Optimize Bookkeeping

At Affinity, we offer bookkeeping services for real estate such as creation and management of general ledger, balance sheet, trial balance, financial statements, expenses ledger, and more. Our years of experience in finance and accounting services have brought us accolades and support of loyal clients who have been our partners from years.

Contact us to outsource your requirements for efficient real estate bookkeeping services at affordable costs. For a free consultation on how we can streamline your bookkeeping tasks, contact us at http://affinityoutsourcing.net, and Our experts will follow-up within 24 hours.

Accountancy Outsourcing Services in London for Construction Business

According to a survey, approximately half of the construction companies shut down their offices within the first four years from the date of the start. And, one of the most common reasons for this was the improper management of the cash flow. Survey clearly stated that the contractors were not able to manage their cash flow, which ultimately forced them to close their offices. The Contractors got stuck in this bizarre scenario, because they were quite unaware about accounting principles and how to efficient manage their finances. If you too belong to the Construction industry and are facing the same situation, then the only way to save yourself and your business from this uncertainty is Accountancy Outsourcing Services.

Affinity Outsourcing – We offer Accountancy Outsourcing Services for Different Types of Construction Business in London;

  • Small Renovation Contractors
  • General Contractors
  • Owner-Builder
  • Real Estate Developer
  • Professional Construction Manager
  • Program Manager
  • Package (Turnkey) Builders
  • Sponsor-Builder

Accounting for Construction companies can yield a plenty of advantages. It allows companies to focus on business activities, proper use of business finances, and optimum use of human resources. Outsourcing Accounting companies like Affinity Outsourcing gives you access to highly experienced and trained resources. If you tend to be a startup or a small construction company, and don’t have the access to skilled employees then outsourcing your accounting tasks is the best you can do.

The Advantages Accountancy Outsourcing Services;

Accountancy Outsourcing Services sets you free so that you can focus on your business. Affinity Outsourcing has the team of highly skilled accountants and bookkeepers that are competitive and best for your business operations. They specialized in construction accounting, bookkeeping, and taxation and payroll services for construction companies across the London, UK.

  • Cost savings and efficiency
  • Operational control
  • Staffing flexibility
  • Enables innovation
  • Focus on Your Core Business

Accounts outsourcing services for construction business offered by Affinity will help you to identify the financial indicators and performance readily, enabling you to make right decisions at the right time.

Kindly feel free to Contact us today for a free consultation. Visit us at http://affinityoutsourcing.net or call us at 0203–848–4450

Top Reasons Why You Need to Consider Outsourced Bookkeeping Services for in London, UK

Just like other business operations, bookkeeping is equally important in every business, irrespective whether you’re doing it for your own business or are working as an accounting firm and managing that of your client’s business. The circumstance can end up intense when you have the workload and/or are rare with the assets. Considering outsourced bookkeeping services in London, UK from a specialist firm, for example, Affinity Outsourcing, could end up being a fundamental choice.

In spite of the fact that it might sound a basic and less demanding arrangement, particularly when your bookkeeping practice up and working fine, notwithstanding, to be completely forthright, accounting can be a bulky work to do, and as a rule, basically exhausting. For a bookkeeping firm with constrained assets, this could be valid. If you happen to be such a firm, then at that point fortunately, you don’t have to contract more in-house accountants or bookkeepers to complete the outstanding tasks. Rather, the better and financially savvy path is to connect with an expert bookkeeping outsourcing firm in London and get the best in the class outsourced bookkeeping services, which always deliver the solution on time and within budget.

In the UK, Affinity Outsourcing is one such professional outsourcing accountancy service provider who has the capability to manage your load of bookkeeping services for your clients, offering the most quality, reliable, accurate services, along with prompt delivery. So why to opt for outsourced bookkeeping services?

It Saves a Lot of Time

If you own a firm in the UK, then the first and foremost advantage of outsourcing bookkeeping services is that you will end up saving a considerable amount of time on this specific task. And being into an accountancy business, you might be well aware that how much time bookkeeping could end up churning. Though it may sound simple enough, yet it could eat up a lot of time. Teaming up with outsourcing bookkeeping services, you could save this considerable amount of time, as they have specialized bookkeepers that could manage the task on behalf of your accountancy firm and get it done quick.

It offer Premium Quality Work

Time saving doesn’t mean that you’ve to compromise on quality. Affinity Outsourcing is one of the leading, reliable and reputable outsourcing bookkeeping service provider in the UK, which is equipped with a team of qualified and certified professionals. Most important, being in the business since past several years, they are always focused to offer quality and in-budget services, ensuring that their client never has to worry about the quality of the work.

It can Increase Profitability

Hiring additional full-time staff to manage the bookkeeping work could certainly prove to be expensive for your firm. Outsourcing such services not only helps to eliminate the burden of hiring additional full-time resources at your premises, yet also promises to deliver quality and in-time services – all within the budget.

Want to know more about how outsourced bookkeeping services could help your business in UK, write us at info@affinityoutsourcing.net

Do You Really Need Outsourcing of Accounting Services?

Accounting is one of the most concerning tasks for every organization independent of their size and nature of the business. Exactly when an individual starts another business he has some plans to save money on each possible utilize including accounting. A little while later he comprehends that accounting and other bookkeeping tasks eat up an impressive proportion of time that he could have by and large used for progressing and developing his business. It is monotonous, and also a noteworthy cerebral agony for business owners who are new to accounting. That is the inspiration driving why more businesses in London, UK, are looking for outsourcing of accounting services like Affinity Outsourcing to manage their accounting.

Do You Really Need to Look for Accountancy Outsourcing Services?

In today’s fast growing economy, only the businesses indulged in serious competition wins. It’s not a cakewalk to survive and win the benefits. If you are confused about whether you need a professional accountant or not, then you need to scrutinize the advantages of employing an accountant mentioned below;

  • To gain benefits is the basic purpose of every business. By what means would you be able to conclude whether you are making profit or not? Accounting is the correct instrument to reveal the proportion of profit earned. The profit earned should be entered successfully to know the genuine cash related position of an association. Wrong section of figures or oversight of a profit earned won’t show the veritable advantage or mishap. An experienced accountant is educated about accounting and he can keep up bookkeeping simply more suitably. Small mistakes made in accounting can wind up being radical consequences.

  • Some business owners believe that it is a good idea to own an in-house accountant rather than considering an accountancy outsourcing services. They feel this is expensive and unworthy. It is safe to say that you are one among them? If this is the situation with you, then you are totally off kilter. Setting up a staff can be costlier and extra dull.

  • Hiring an offshore accountant (remote staff) from an offshore accounting firm like Affinity Outsourcing keeps you away from a significant proportion of anxiety. You don’t need to worry about data fortification, updating accounting software, reimbursement insurance, due dates and consistence with the business. Each one of these commitments are designated to the representative.

  • Arranging and adhering to expenses structure are fundamental for the achievement of a business. A particularly figured spending saves utilization and extension pay. Exactly when an accountant gets settled with your business, he can give productive dominance bearing in orchestrating spending plans.

  • An experienced and qualified accountant from Affinity Outsourcing would help you with financing, valuing, advertising, IT and cash related direction. The outcome of this is the general proficiency of the business.

  • When you hire an experienced accountant, you will have no more worries over late lodgement, wrong invoicing, misguided coding of taxes etc.

Get a Free Consultation to Know More About the Advantages of Accountancy Outsourcing Services:

If you wish to know more about how outsourcing of accounting and bookkeeping services can increase your profit margin and help you manage your finances, then contact us for a free consultation today. To schedule a consultation, please contact us at http://affinityoutsourcing.net/ contact or dial 0203–848–4450.

Outsourced Bookkeeping Services: Tips to Find the Right Bookkeeper Near You in London, UK

Productive bookkeeping isn’t only the key for bookkeeping firms to keep customers’ financials fitting in with state and government laws and expense headings; yet additionally an approach to grasp some of exercises in very much recorded way so budgetary conclusions can be settled easily. Poor or conflicting bookkeeping expands the migraines and continues being a champion among the most broadly perceived explanations behind business disappointment (which no customer would be glad about) – but on the other hand it’s totally avoidable. So it’s not in any way a trivial activity, rather, it is something that necessities incredible concentration and master hands at work.

Bookkeeping firms should connect with their neighborhood or remote bookkeeper to offer proficient bookkeeping services, holding existing customer base and additionally drawing new leads.

Outsourced Bookkeeping Services – Why You Need an Experienced Bookkeeper?

First, let’s understand what do you mean by Bookkeeping? Also, what it implies for you and your business to have an experienced bookkeeper. As a bookkeeper, dealing with your customer’s everyday transactions is very tedious and broad undertaking. Having a bookkeeper resembles having a person that can record and monitor those money related exercises and not be giving the customer a chance to trouble much about it.

If you are planning to hire a bookkeeper, then it is necessary that you choose the right virtual bookkeeper to partner with your firm. Check out some points below:

#Must be Trustworthy: More than capabilities and aptitudes, the most imperative thing is being trustworthy. An bookkeeper ought to be straightforward and transparent. Regardless of whether you procured an in-house or Virtual bookkeeper, it should not be difficult to reach them by the means of telephone or email. Also, ask for references they can speak with to assist them in their decision-making process.

#Must Have Solid Communication Skills: Ensure that the bookkeeper you hire is a good listener and clarifies things that makes sense to you. Numerous CPAs and Accounting firms dependably search for a correct bookkeeper to perform everyday bookkeeping assignments. Regardless of whether your clerk is working from your office or remotely; find the techniques for correspondence that works best for a customer i.e. email, phone, content informing, Skype and so forth

#Must Have Accounting Education Background: Knowing about bookkeeping standards in the UK and exceptionally tested capacities are fundamental to be an accounting proficient. Organizations resist to hire an accountant that lacks suitable qualification, as well as a lack of professional experience.

#Must Be Aware of Current Accounting Technology: There are many bookkeeping software accessible in the market to keep up your financials online, for example, Xero, Quickbooks or Clearbooks; it is additionally vital that bookkeepers are great with utilizing the most recent accountancy software. Utilizing old fashioned software will back off your work. Use of the latest software makes work simpler, precise and effortlessly reviewable between the clerks, bookkeepers and your customers successfully.

Contact us for Bookkeeping Services in London, UK

Affinity Outsourcing is one of the leading name in accounting outsourcing services. We provide bookkeeping services to small and mid-size accounting firms with the right strategy as per their requirements. For more info, visit http://affinityoutsourcing.net.