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Accounting Services

Outsource your Accounting and focus on growth

We take over the headache side of doing business, leaving you with more available resources to make your venture a success.

With our complete outsourced financial accounting services, including monthly or quarterly management accounts, you can identify financial trends easily and respond more quickly.

We prepare year end annual accounts, enabling you to stay compliant to avoid costly penalties.

All services can be selected individually, forming a package that is tailored to each company’s exact needs.

Our start-up services comprise everything you need for getting your business up and running.

  • Business Plans and market entry support services
  • Advice on choosing a business structure
  • Registration of the entity
  • Help with opening a bank account
  • Tax registrations (Corporation Tax, VAT, PAYE, CIS)
  • Outsourced accounting and compliance services
  • Help with getting specialist legal advice
  • Advice on finding office space
  • Advice on recruiting employees

Management Accounting Services

It is particularly useful for businesses to obtain regular management accounting information when setting up operations in a new territory. It can quickly and easily identify where resources should be concentrated and reduce outlay in areas that provide a poor return. Early planning enables businesses to operate efficiently right from the start and avoids wasting limited resources at this critical stage.

  • Management accounts (monthly/quarterly)
  • Business plans
  • Assistance with setting up accounting information systems
  • Preparing cash flow forecasts and budgets
  • Preparing management accounts and reports
  • Financial modelling

Benefits of Outsourced Accounting – It worth it?

The advantage of using outsourcing accounting services is having a full range of professional financial services at your fingertips which providing great value and many benefits:

Cost savings, as services are tailored exactly to the clients’ needs
Continuous access to specialist services and professional advice
Using the latest automated systems reduces errors
Reduced business risk, as returns are filed on time and prepared by accountants
Improved organisational performance with access to detailed management information and real time information from anywhere in the world
Frees up management time, so more focus is given to making the venture a success

Having access to professional outsourced accounting services is invaluable at the outset and experience has shown us that often clients continue to outsource accounting functions even when their operations grow large enough to warrant moving them in house.

How does outsourced accounting and bookkeeping work, when expanding to the UK?

Our outsourced accounting services are completely flexible and can be tailored to your exact needs, so companies don’t need to spend money on services that they don’t need. The package can be extended or reduced over time, as the companies’ requirements change. We work in the same way as an in-house accounting team and when we receive your accounting records, they are processed and entered into our cloud software systems. Accounting data is stored on secured cloud servers reducing the risks of physical data loss. Clients and their parent companies’ accounts staff can directly access their accounting records anytime and from anywhere in the world.

What are the costs of outsourced accounting in the UK?

The costs of outsourced accounting depend on which services are required by clients. Cost also depends on the volume of transactions. It is normally cheaper to use outsourced accounting services than setting up an in-house accounting function when starting up a new business. We would be pleased to discuss your requirements and provide a free quotation for you to evaluate.

Outsourced accounting for start-ups – Can it be a solution?

Our outsourced accounting services for start-ups are particularly popular, because the resources of new companies are often very limited and setting up an in-house accounting department is not efficient for small companies. By providing start-ups with an option to outsource their accounting, they do not have to familiarise themselves with UK compliance laws nor run the risk of missing deadlines, leaving them free to concentrate on what they do best.

Frequently Asked Questions

  • Do you only offer outsourced accounting services in the UK, or is it a worldwide service?

    At Axada, we can provide UK outsourced accounting and managements accounting services. If clients have outsourcing requirements in another country, we can put them in touch with our partner firm in that country, who will be able to assist them. We are happy to manage the relationships and intermediate where there are language barriers.

  • Can you help in creating an international expansion plan for my business?

    For professional international expansion strategy formulation, we can put you in contact with specialists who are best placed to advise about specific international expansion strategies and can formulate detailed plans for target markets. We can assist by providing financial and tax information, so that the venture can be accurately evaluated. We can put you in contact with local expansion specialists, who can help with implementing an expansion plan in a foreign country. We can also provide you with information to make a business case for expanding to the UK.

  • Is there anything US companies should know prior to outsourcing accounting and bookkeeping when entering the UK market?

    Tax and accounting laws in the UK are not the same as they are in the US and normally require local expertise. VAT is operated very differently from Sales taxes in the US and VAT reporting is easy to get wrong when severe penalties can often result. We will assist company head offices and local office staff with queries such as invoicing requirements, working out tax points and how to convert foreign currency invoices for VAT calculations and much more. Outsourcing reassures parent companies that their international compliance risk is being minimised.

    Before expanding your business internationally, the risks can be considerably reduced by thoroughly researching the target market and seeking professional advice from the outset.

  • Do you have any hourly rate for accounting and bookkeeping services, or is it a fixed fee?

    We usually provide fixed fees when feasible, which gives more certainty for our clients and enables better budgeting. If the assignment is such that it is not possible to agree a fixed fee, we can work on an hourly basis and the rates would be charged at our standard hourly rates.

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