Accounting outsourcing is common for small and medium-sized businesses. This makes it possible to optimize costs and insure oneself against the inefficiency of full-time accountants. But at the same time, there are problems with control over the activities of external service providers, moreover, inspections should be carried out not only at the very beginning of cooperation. But this should be done even if you have confidence in the abilities and diligence of the employees of the employer company.
To avoid this, we recommend the following:
- placement coordinator
- Clearly define the responsibilities of the parties to the contract.
- regular account audit
Strict control over the activities of accounting services firms will help you avoid liability for violation of financial discipline.
To ensure the most effective interactions with outsourcing firms, firms requesting services should appoint a coordinator. This employee should contact an employee of the accounting firm. Providing all information necessary to carry out the activity, resolve arguments and inform the company’s management of the success of the company in which it operates
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You will need to appoint a coordinator immediately after signing the contract with the outsourcing company. The operating company which has to specify its coordinates directly must designate the same coordinator. To avoid misunderstanding in the future. It is recommended that contact rules and procedures for the exchange of information be established immediately.
The responsibility of the parties
The responsibilities of the parties are specified in the contract. But it is good to think twice and discuss who is responsible for whom and how much. Clients and contractors will then have to re-sign the contract. To do this they had to pass votes to each other so that consensus could be reached and a fair settlement could be reached with all on contentious issues. The obligations should be clearly defined in the contract.
Before signing an agreement with an outsourcing company, you must:
- communicate with agent
- Clarify who has access to your company information and documents.
- View all available information about the reputation of companies providing external account services to you.
The audit should be conducted not only before hiring an accountant. But it is still in the process of collaborating with companies that provide accounting services regularly. So that the results of the inspection are as useful as possible, conduct should be given to external organizations that specialize in providing such services.
Despite all the risks, outsourcing accounting has many advantages, such as maximum reduction in accounting costs and quick resolution of all accounting tasks that take place in the course of your company’s operations. (Document development in the field, maintenance of cashbook inventory) You can subscribe to this service through Capital Tax Consulting. You have to fill out an online application form on our website. or contact our manager by phone