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A guide to outsourcing bookkeeping services as an accounting firm

Project Alfred
December 6, 2021

There’s plenty of options for businesses looking to outsource bookkeeping, but what about accounting firms? If you’re an accounting firm, have you ever looked into outsourcing bookkeeping services? In this guide we’ll explain how accounting firms can outsource bookkeeping and how Project Alfred can help.

Why outsource bookkeeping services as an accounting firm?

There’s a range of reasons why accounting firms might want to outsource bookkeeping services to a specialist rather than do it themselves. These include:

  • They don’t have the resources (or number of bookkeepers) to meet a client’s needs
  • They need cover for a period of time (if their bookkeeper is on maternity or long-service leave)
  • They just don’t offer bookkeeping as part of their services (it’s not every accounting firm’s cup of tea but it is ours!)

The advantage of outsourcing bookkeeping services is that you’re essentially hiring skilled and experienced professionals without having to go through the recruitment and training process (and you have less overhead costs!). This is particularly valuable for businesses looking to temporarily cover an existing bookkeeping position, or for businesses and accounting firms that don’t want to commit to employing (or expanding) an in-house bookkeeping team. 

If accounting firms don’t offer bookkeeping services, finding their clients a trusted outsourced bookkeeping solution means they know their clients’ accounts will be done properly throughout the year, making their job easier when it comes to preparing EOY compliance.

How does outsourcing bookkeeping to Project Alfred work for small accounting firms?

First of all, we want to put any concerns you may have at ease – we aren’t trying to steal your clients! Yes, we’re accountants too, but we’re collaborators who want to elevate our industry – and the way clients value their accountants’ expertise, including yours. 

Many accountants who want to outsource bookkeeping services are sole traders and don’t necessarily have the capacity (or desire) to do bookkeeping on top of their compliance or advisory services. As specialists in streamlined bookkeeping, we’re happy to help you resolve your client’s problem while you continue to provide the services you actually want to provide. 

The main thing we suggest if you decide to outsource bookkeeping to us is that you/your clients use Xero, because it’s what we use and recommend. We’re totally transparent with all the pricing of our services, and tailor our packages to suit your firm’s needs. The best way to find out how outsourcing bookkeeping to us will work for your business is to jump on a quick discovery call with us – no obligation – and we can just have a chat about what you need and how we can help. 

Wondering how much outsourced bookkeeping might cost? Try our pricing calculator for an instant estimate. 

How does outsourcing bookkeeping to Project Alfred work as a large accounting firm?

You might be surprised at the number of accounting firms that actually outsource aspects (or all) of the bookkeeping for their business! Why would they? It’s not that they don’t have the capability to do their own payroll, reconciliations, etc. But depending on what their team looks like, sometimes it is a lot more efficient to outsource than do it inhouse (if your bookkeeping is going to fall to a senior partner, their time is probably better spent on client work, afterall). 

When a firm is growing, the number of transactions being processed increases and bookkeeping requirements generally become more complex and time-consuming – and there’s no need to do it all yourself. If you don't have the systems in place to keep up with your bookkeeping demand, or need help streamlining your systems, Project Alfred makes bookkeeping a breeze. We help businesses – including accounting firms – get time back so they can focus on doing the work they actually want to be doing: growing their business and serving their community.

When you work with Project Alfred’s bookkeepers, you also get to decide on the relationship you want us to have with your client. You can let us manage the client relationship directly, or we can do the bookkeeping and you manage the client relationship. As a large accounting firm, this level of control is something that can save you costs, while still allowing you to reap the benefits of maintaining the client relationship (this is especially useful when outsourcing bookkeeping for dozens of clients). At the end of the day, we’re flexible and want to create a solution that works for you and your clients’ needs.

A close-up image of someone pointing to a pie graph.

We’ll be honest – there’s lots of less than great bookkeepers out there. However, by outsourcing bookkeeping services to Project Alfred your bookkeeping is done by an accountant, so you get a much greater depth of critical thinking and compliance knowledge. Plus, outsourcing bookkeeping services to us is simpler than you probably think. 

Talk to us today about your needs. We work alongside, not against other accountants, so book a discovery call with us today and find out how we can help your business grow.

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