Bookkeeping for business - why is outsourcing worth your while?


Companies that are obligated to keep trade books often must decide whether they want to keep an internal accounting department or outsource the bookkeeping to another company.

Outsourcing of accounting services involves entrusting an external entity with accounting and office processes. The scope of entrusted services may vary and include, among others, full accounting services, supervision over an accounting process, preparation of financial reports, tax settlements, etc.  

A solution in which the bookkeeping is handled by external entities has many advantages. The first being reduction of costs that the company would otherwise have incurred, if it had decided to keep an in-house accounting department.  

  • Reduction of technical costs connected, for example, with purchases of equipment, accounting software, IT support.  
  • Reduction of costs of remunerations of the employee responsible for bookkeeping at the company. Apart from the cost aspect, outsourcing also provides another advantage – in case of workers’ absence (due to holiday leave, sickness leave), they can be replaced to have their duties fulfilled on a timely manner. In case of employing one person as accountant, it could bear the risk of delays in fulfillment of obligations.  

The risk management aspect is certainly another indisputable advantage of accounting outsourcing. Apart from the aforementioned risk of employees’ absence, the external company is responsible for the realized order. This way, it ensures that the accounting process is carried out in a safe manner. Instead of supervising the accounting services, people managing the company can then be more focused on the ongoing operations. The time they managed to save can be devoted to more important aspects of business management.   

It is crucial to benefit from the knowledge of the specialists of an external company. Very often, such companies employ professionals from various fields of accounting and taxes. They have a number of experienced employees who are capable of solving many issues that companies struggle with. It means that as part of the outsourcing, it is possible to commission accounting, HR and payroll services – depending on the needs of a particular company. People who work at outsourcing companies often have a broad perspective on a particular phenomenon thanks to their experience in companies of various industries. As a result, they are capable of performing well in unusual, complex accounting and tax transactions.  

Companies that provide outsourcing services often have access to advanced tools and methods that reduce the time needed for the preparation of accounting overviews, reports and tax declarations. They also help reduce the risk of errors. External companies are more capable of ensuring such tools it is the whole company that uses them, not only a small internal department.   

Companies engaged in internal accounting are flexible and quickly adjust to the changes on the market. It is a wonderful benefit in times of dynamically changing tax law. Outsourcing companies care for ongoing training of their employees and have access to platforms with tax and accounting-related knowledge. If the accounting is managed by the company’s employee, they must often update their knowledge on their own merits. One of the advantages of outsourcing companies is that the cooperation between various persons at the company and various departments favors expanding one’s knowledge and facilitates staying “on track” with changes related to taxes and accounting.   

Summing up, outsourcing of bookkeeping for business has many positive aspects. In times of rapid tax and market changes, it seems like the right solution. The company may focus on its own development while the financial affairs have been entrusted to professionals.  


Author: Karolina Jaworska Accountant at the accounting office in Katowice