People usually remember accounting when something has gone wrong: an employee left, a report does not add up, the tax office sent questions. Yet in autumn, a few months before the year closes, there is a good window to hand bookkeeping over to specialists calmly instead of doing it in a December rush. We already covered the general benefits of outsourcing in the article on outsourcing accounting. Here is why the timing matters.
Why it pays to do it before year-end
- There is time to fix accumulated errors before annual reporting, not in a hurry.
- The new provider has time to get to know your business and go through at least one reporting period.
- It is easier to compare the terms of several companies without deadline pressure.
What the business gets
Access to a team instead of one person: an employee's vacation or illness does not stop the bookkeeping. Up-to-date knowledge of legislation and reporting forms. A clear price: outsourcing often costs less than a staff accountant with taxes and a workplace, though the result depends on the volume of transactions.
How to prepare for the handover
- Collect the year's source documents and arrange them by period.
- Do reconciliation statements with the main counterparties and the bank.
- Run an inventory where one is needed.
- Make a list of reports, deadlines and access rights.
- Check which questions remain open on previous reports.
What to put in the contract
- The exact list of services and reporting forms.
- Deadlines for handing over documents and preparing reports.
- Responsibility for errors and how they are corrected.
- Data confidentiality.
- The procedure for termination and returning documents.
Start with a trial period
If you have doubts, agree on a trial period of one or two months. During that time you can see how punctual the provider is, how quickly it answers questions and whether it notices errors in the books. Judge not the promises made at a meeting but what is actually done by the deadline.
Control stays with you
Responsibility for reporting and taxes toward the state lies with the company's manager in any case. So do not hand over the only key: keep access to the taxpayer account and the electronic signature, ask for monthly summaries and ask questions. For how to prepare for the next filing, read the article on Q3 reporting.
Frequently asked questions
When is the best time to change accountants?
Ideally at the start of a quarter, so the new provider takes over a clean period. But autumn is still better than December.
Who can I turn to?
Accounting and legal services are offered by, for example, ABC Consulting and the consulting company Sofistico.