General FAQs
Accounting outsourcing refers to the practice of hiring an external company or service provider to handle various accounting functions, such as bookkeeping, financial statement preparation, tax compliance, payroll processing, and more.
Businesses choose accounting outsourcing for several reasons, such as cost-effectiveness, access to specialized expertise, improved accuracy and efficiency, compliance with regulations, and freeing up internal resources for core business functions. Click here for more information about the UKCA outsourcing process.
Yes, you will retain control over your company’s financial decisions. Accounting outsourcing providers work as external partners, providing data, reports, and insights that assist in making informed financial decisions. Ultimately, the control remains with the business owner or management team.
We work with accountancy practices in the UK, whose clientele includes small to medium size businesses from various industries such as Pubs, Bars, Restaurants, Construction, Property Management, Contractor’s Accounts, Health Care companies, Legal firms, Management Consultancies, Manufacturing firms and Advertisement Agencies
We hire staff with accounting backgrounds and qualifications. Our employees are mostly CA, Master of Commerce and Bachelor of Commerce with more than two years of experience dealing with UK Accounting. Our employees get thoroughly trained in the subject matter for a month before they start taking any assignments. Also, all our Accountants are Xero and Quickbooks -certified.
Absolutely! Delivering quality work means a lot to us. Therefore, all jobs are reviewed by a senior staff member and the process head before being sent to you. We have a two-step review process and we follow stringent internal checklists. Contact us to know more.
We always have SOP(Standard Operating Procedure) in our record for all the tasks performed by team members. If any of our team members want to take long-planned leaves, we assign temporary resources for the clients who will be assisted with cross-training before leaving for the vacation.
Likewise, if any unplanned leaves are taken, we allocate quick resources for the clients who will refer to SOP to perform the tasks. Thus, our team always has a buffer resource to deal with those cases at each level.
Yes, of course. On a request basis, we can send our staff to the UK for working with your practice, get specific training, or onboard a process. We raise an invoice to cover the travel expenses.
No, it’s not necessary to outsource all accounting tasks. Businesses can choose to outsource specific functions based on their requirements. Some may only outsource bookkeeping, while others may outsource tax preparation or outsource payroll processing.
Yes, accounting outsourcing is suitable for small businesses as it allows them to access professional accounting services without the need to hire a full-time, in-house accountant, thus saving costs.
The pricing of accounting outsourcing services can be influenced by various factors, including the complexity of the accounting tasks, the volume of transactions, the level of expertise required, the duration of the engagement, and the specific requirements of the business.
Yes, we often offer flexible pricing options that can be tailored to meet the specific needs and budget of your business. We can work with you to design a pricing structure that aligns with your requirements. For more details, Contact Us.
Yes, we offer the option to request a cost estimate or a proposal detailing the expected costs based on your specific requirements. This allows you to assess the feasibility and affordability of the outsourcing arrangement. For a customised proposal, Contact Us.
No, you don’t require to pay anything upfront, you just need to enter into a pricing agreement for hourly rates, monthly retainers, or project-based pricing whichever engagement model you choose to go ahead with. For more details, Contact Us.
No, we are transparent about our pricing structure and any associated costs. All the associated costs will be thoroughly discussed and agreed upon in the pricing agreement to ensure there are no hidden charges or unexpected fees.
You pay to our UK Bank Account via bank transfer.
We raise the Monthly invoices on the last day of the month. All the tasks/projects completed in a particular month will be billed to the clients on the last day of the month.
Currently, We have three different price models. Costing depends on your requirements, the scope and the volume of work agreed upon. We have assigned dedicated SPOCs to all the models who will report directly to your on-floor Manager (POC).
For more information please refer to this link: https://cloudaccountants.co/engagement-model/
The Due date is 7 days from the Receipt of the Invoice.
Yes, we offer up to 10 hours of work as a free trial. For more information, please get in touch with us.
Billing, Pricing & Free Trial
Data Security & Client References
Data security is of utmost importance to us considering the tremendous impact it has on the business and future growth prospects.
At UKCA, we are aware of this aspect and do everything possible to ensure data protection.
For document sharing, we have the following process in place.
1. Secure login
We log in to your system using a remote desktop.
2. File Access
We access your files on your system, without having to transfer them to our servers.
3. Complete tasks
We complete the task and inform you that it is ready for review.
4. Review
Once your feedback, we implement the changes and share the final version of the task.
5. Delivery
Once you give a thumbs up, we provide a final report of the task completed.
If a client requires, we can provide our existing clients’ contact numbers and email addresses to cross-check our references.
At UKCA we follow the UK Bank holidays as per the calendar year.
We provide an average of 5 working days for a turnaround of jobs depending on the complexity of work you assign to us. However, it can vary depending on the volume of work you wish to outsource at a given time. TAT can be customized to align with your business’s specific requirements
Yes, ongoing training is provided to the outsourcing team to keep them updated with changes in accounting standards, regulations, and business processes. This ensures that they continue to deliver high-quality accounting services and stay aligned with your evolving needs. If a new accounting and tax software is launched in the market, we make an SOP and share it with our team members.
Training material can be shared through various means, such as video conferencing, screen sharing, document-sharing platforms, or secure online portals. The method of sharing training material can be discussed and agreed upon at the time of entering into the price agreement.
When we start working together, we will assign a single point of contact (SPOC). That person communicates with you directly on all matters related to the job and eliminates grievances if any.
The frequency of updates on the progress of accounting tasks can be determined during the initial discussions with the outsourcing provider. It can be daily, weekly, or as per your specific preference. Regular communication helps ensure transparency and keeps you informed about the status of your accounting functions.
Operations, TAT & Training
SP29 Outsourcing Private Limited
SP 29 Outsourcing Private Limited