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Finance and Accounts Outsourcing

Our finance and accounts outsourcing division assists chambers clients to achieve a higher level of business performance through an efficient and effective finance, accounts and payroll service.

Our clients come to us seeking fresh ideas and new ways to run their F&A processes. Cost reduction is invariably the priority, but driving efficiencies without reducing quality is also high on the list with them. We are able to deliver these results.

What are the benefits?

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Our services are customised for the Bar and we use clear metrics, such as savings and service-level agreements to assure business outcomes. In addition to those mentioned, the following are some other benefits of outsourcing the finance and accounting function:

• Get informative reports that provide improved understanding of business spending through the entire supply chain to help budget control and standardize procedures company-wide
  
• Move focus from basic transactional services such as accounts payable to more strategic functions like budgets, forecasts and internal audits
  
• Reduce the time it takes to close books
  
• Develop better benchmark and baseline financial processes to meet regulatory requirements
  
• Identify cost savings through supplier consolidation and duplicate payment analysis
  
• Access to a team of people who regularly use various accounting, payroll and chambers management software

Services we provide

General Accounting

• Bank reconciliations
  
• Journal entry postings
  
• Reconcile control accounts
  
• Accruals and prepayments
  
• Manage consolidation
  

Accounts Payable

• Supplier set-up and maintenance
  
• Purchase order processing
  
• Invoice and payment processing
  
• Expense claim processing
  
• Supplier statement reconciliation
  

Credit Control

• Payment chasing and query resolution
  
• Cash posting and allocation
  
• Ageing report with comments
  
• Customer account reconciliation
  
• Liaise with legal compliance department
  
• Bad debts reports
  

Accounts Receivable

• Client set-up
  
• Client invoicing
  
• Revenue reconciliation
  
• Cash allocation
  

Financial Reporting

• Management accounts
  
• Commentary and variance analysis
  
• KPI reporting
  
• Decision and planning support
  
• VAT and regulatory reporting
  

Payroll

• Payroll processing
  
• Statutory deductions
  
• Customised payroll reports
  
• RTI submission and statutory compliance
  

Fixed Assets

• Master set-up and maintenance
  
• Calculation and posting of depreciation
  
• Capital budgeting process

In our view what can be outsourced is only limited by your imagination