Outsourced bookkeeping – everything you need to know!

July 05, 2022 by Christine Frith
Outsourced bookkeeping – everything you need to know!

Bookkeeping is a critical business task. Staying on top of transactions and payments gives managers a clear understanding of their business: what is working and what isn’t, where there are opportunities to grow or to be more efficient. Good, timely bookkeeping can make or break your business so outsourced bookkeeping is an attractive proposition when there are limited hours in the day and little appetite to take on an additional member of staff.

What does a bookkeeping company do?
Bookkeeping in the UK means being responsible for what is often considered the ‘financial admin’. This covers everything from processing income, bills, receipts and expenses, reconciling bank and credit statements, completing a VAT return, and it may also include payroll, budgeting and credit control. These are tasks that a knowledgeable business owner could complete but often, this is not the best use of their valuable time.

What makes a great bookkeeper?
You trust your professional bookkeeper with the lifeblood of your business so you need to be confident that they will act quickly and efficiently to process your information.

TOP TIP: Choose a bookkeeper that will keep you informed in a timely manner and have the right information to make critical business decisions, confident that you are compliant with all legislation, such as Anti Money Laundering (AML) and GDPR.

Why should I outsource bookkeeper services?
A busy business owner is time poor with multiple tasks claiming their attention so any task that can be outsourced, should be. By outsourcing bookkeeping to an efficient professional, who likely has invaluable knowledge and insights, you have more time to focus on your business, reassured that you are fulfilling your business obligations. And when you choose Hour Hands as your bookkeeper, you have a team that really gets to know your business, not just the numbers. This makes them a proactive addition to your team!
Many SME and private clients across the South East and London find bookkeeping service support is vital for their business growth.

What does a bookkeeper cost per hour?
Outsourcing your bookkeeping is surprisingly cost effective! Most professional bookkeepers have a flexible pricing system. Packages tend to relate the number of transactions your business makes, rather than size or turnover, you only pay for the service you need. Our monthly packages start at £350 per month and we offer a bespoke start up service for new businesses too.

What does Xero bookkeeping mean?
Xero is a cloud-based accounting software that automates and simplifies many basic accountancy practices including invoicing, calculating VAT, paying bills and claiming expenses. A professional Xero bookkeeper will ensure you make the most out of your subscription, ultimately saving you time and money.

Hour Hands is an Xero Accredited Bookkeeper – meaning we are recognised as a Xero expert

What makes Hour Hands different to any other Xero bookkeeper near me?
The list is long but here are just a few points that you should know:

● We’re a team of fantastic people who genuinely care about your business. We want you to succeed and will go out of our way to help you to do so.
● We can deal with messy situations and get them sorted! If your bookkeeping has gone awry or you haven’t got around to sorting those expenses for a month or six, then we are happy to help.
● No job is too big or complex. We currently manage the bookkeeping for an eCommerce business with 20 different sale channels including Shopify, Wholesale, Uber Eats and Amazon.
● We’re genuine bookkeeping experts who can give you some real insights into your business that will help you grow.

I would really rather keep the numbers in-house, convince me I’m wrong…
“After ten years in business I found myself in need of some short term, very specific help in our finance department. Having met Christine networking, I liked her calm and professional style and thought she was the woman for the job; 10 hours work agreed, end of story.

But boy, was I wrong. She is so much more than a virtual assistant, so much more than a bookkeeper and so much more than an administrator. Her knowledge of Xero far surpasses mine. She is quick, efficient and hits every deadline given to her. Her ‘can do’ attitude, expertise and personality ensured that she soon became part of our team. Dealing with highly sensitive information discreetly and not only using her initiative but being truly proactive meant that the 10-hour project became much more as she added real value to the operation. Highly recommended for any local business needing top notch financial/operational support.” JC – Advertising

Remote bookkeeping wanted!

Bookkeepers offer a vital business service, saving you time by managing the day-to-day finances and transactions: giving you the time and space to concentrate on running your business.
Technology allows us to work as a remote bookkeeper – part of your team working from our own premises and regularly sharing the real-time information you need to successfully run your business and stay ahead of the competition. This is a compelling solution for many SMEs who need the support without employing new team members.

Our experienced team works virtually as part of your team either on a contract or for shorter durations to help you complete a specific project. Take a look at our packages and contact us for bespoke support

Hour Hands – for all your bookkeeping needs.