Initor Global Guide to Outsourcing Year-end Accounting Services

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year-end accounting services

If you are a UK Accounting Practice looking to improve the efficiency of your year-end accounting processes, and the quality of services provided to your clients, you should consider outsourcing to a supplier such as Initor Global.

Many accountants do not know where to start when considering options for outsourcing year-end accounting services. This blog attempts to break down some of the barriers accountants perceive when considering outsourcing while providing examples of the many benefits which can be secured.

What does outsourcing year-end accounting services mean for a UK Accounting Practice?

Outsourcing means a specialist supplier (or ‘partner’) will take responsibility for completing the annual statutory accounts for your clients. Most Practices decide to outsource the preparation of accounts when they have high volumes of accounts to prepare at peak periods or as part of their Practice growth plans.

The outsourced services will usually be provided offshore from jurisdictions such as India or Asia, and will need to be fully compliant with professional accounting standards and data protection requirements. As a UK Accounting Practice, you will need assurance the outsourcing partner has sufficient capacity, including qualified and experienced accountants familiar with the UK’s tax and accounting regimes, to ensure a fully compliant service is provided.

At a minimum, you should seek an outsourced supplier who is GDPR and ISO 27001 compliant and who can provide assurances over client data security. You should also enquire about the professional accounting qualifications, and accounting software accreditations the individuals providing your outsourced services hold.

Most outsourcing partners will have experience of cloud based accounting software and will provide services seamlessly to your Practice. Integrating outsourced services with the operating framework of internal controls, systems and performance reporting already used by a Practice is essential to ensure the quality of services provided.

Outsource partners can use your customer relationship management (CRM) systems to contact clients to progress work and resolve any matters arising, though some Practices prefer to retain this responsibility.

Why should a UK Accounting Practice outsource year-end accounting services?

The following paragraphs provide some insight to the benefits a UK Accounting Practice can secure from outsourcing year-end accounting services.

Professional services provide a better client experience

UK Accounting Practices recognise that it can be difficult to engage clients about the importance of the year-end accounting process and their director responsibilities to approve accounts. Many clients are simply not interested in the detailed work accountants need to complete to ensure year-end accounts and tax calculations are produced accurately and in accordance with relevant professional and regulatory requirements. Practices outsourcing the year-end accounting process find they have more time to spend with their clients explaining the information contained in their statutory accounts, with the opportunity to upsell high value advisory services.

With an outsourced solution, Practices will have access to a team of experts who will provide assurance that year-end accounts are produced accurately and on time, and that experts are available to provide any other services commissioned, such as payroll, bookkeeping or the preparation of VAT returns.

Reduced costs and increased quality

The cost of outsourcing accounting services is typically 50% less when compared to the equivalent services provided in-house. With an outsourced solution, there is no need to maintain a large in-house team of accountants at all. When implementing an outsourced solution, UK Accounting Practices often find the review of internal systems and processes needed secures wider efficiencies for a business, such as the automation of tasks and more effective document management.

With an outsourced partner focused on delivering the tasks and processes an Accounting Practice needs, the quality and accuracy of year-end accounts is improved, with an increase in the quality of services to your clients.

Clients can access more services

Using an outsourced solution allows an Accounting Practice to scale up and confidently and offer accounting services to meet clients’ needs. It also ensures a Practice has the capacity to deliver growth in revenues, and that clients have access to all of the services they need as they prosper.

Reduced risk of service failure

Many UK Accounting Practices rely on a small team of accountants working tirelessly throughout peak periods to achieve statutory deadlines for filing annual accounts with Companies House and company tax information with HMRC. Reliance on a small number of experienced accountants presents a high risk of service failure should individuals leave a Practice at short notice, and if you cannot access a suitably qualified or experienced replacement in time. With an outsourced solution, an Accounting Practice has access to a large team of experienced accountants who can provide the continuity of service needed.

Data Protection assured

Most outsource partners will have experience of all major cloud based bookkeeping and accounting software, which can be accessed from their own secure servers. They can also access your Practice server using secure remote login arrangements. Outsource partners can provide evidence they are GDPR and ISO 27001 compliant, and that client data is always secure and cannot be downloaded.

Removing recurring tasks helps develop people

Some UK Accounting Practices are nervous about outsourcing any service because of the perceived negative reaction among their people. However, the removal of recurring year-end accounting tasks from the day to day workload of accountants means they have more time to spend understanding the needs of clients and upselling services. Less time is spent on tasks such as preparing annual accounts, contacting clients for missing information and data management, allowing individuals to focus on their continuing professional development and building the skills needed for the future growth of an Accounting Practice.

When is the best time to outsource year-end accounting services?

 Accounting Practices will need to consider carefully the skills and expertise available to deliver statutory accounting services, particularly when preparing plans for growth or extending the scope of services offered to clients. Not all Accounting Practices will have sufficient capacity to meet the year-end accounting requirements of their clients, particularly those with a significant backlog of accounting work who are most at risk of fines and penalties from regulators for missing deadlines. Practices should consider outsourcing at key stages in their business planning cycle, when taking on new clients or when a peak of work is expected towards the end of the company tax year.

What should I look for in an outsourcing partner?

UK Accounting Practices will need an outsourcing partner with the skills, capacity and experience to deliver effective year-end accounting services. Practices should look for a partner with a strong track record of serving the types of clients they engage, whether these are Owner Managed Businesses or SMEs.

You will need to ensure you have access to operational managers responsible for delivering the year-end accounts work you have outsourced, to discuss any matters affecting your service and to seek opportunities to outsource other recurring tasks for your Practice.

Most importantly, Practices will need assurance the services are provided by professionally qualified and experienced accountants. Seeking references from existing customers of your outsourcing partner is essential to provide an indication of how your relationship will work.

Which year-end accounting processes can be outsourced by an Accounting Practice?

All year-end accounting processes and tasks can be outsourced. Initor Global provides the following services:

Full statutory year-end accounts preparation service for limited companies Extended Trial Balance (ideal for sole trader accounts)
VAT returns Monthly bank account and credit card account reconciliation
Corporation Tax calculations Statutory accounts and company tax return filing
Balance Sheet analysis Management Accounts
Trial Balance preparation Professional working papers and notes

Initor Global also provides bookkeeping, payroll and VAT return services to meet your clients end to end accounting needs.

Main features of Initor Global year-end accounting services

UK Accounting Practices gain many advantages by outsourcing accounting services to Initor Global, leveling the playing field with larger competitors and freeing capacity to work on upselling services. Key features of our services include:

  • Qualified accountants with experience across all types of clients – from sole traders to small, medium and large sized companies
  • Competitive pricing based on your needs – typically 50% lower cost than a UK resource
  • Best in class turnaround times (typically 5 days from receipt of all information)
  • The latest technology infrastructure
  • The highest professional quality and service standards
  • Excellent Data Security Measures – GDPR and ISO 27001 compliant
  • Industry best-practice followed
  • All accountants receive regular training as part of their professional development
  • Specialists in services to UK Accounting Practices.

If you are looking to take your Accounting Practice to the next level, and provide effective year-end accounting services while reducing costs, you can arrange a free consultation with our expert team.

We offer a free, no-obligation trial of our year-end accounting services.

Please contact us on  or visit our website at

You can also call us on 0203 519 2121.