9 Signs It’s Time To Outsource Your Accounting (And Why You Should)

Signs It's Time To Outsource Your Accounting

For business owners contemplating this option, this blog provides a comprehensive insight into nine critical signs indicating that it’s time to take the leap and outsource your accounting functions, alongside elucidating the numerous benefits of doing so.

Numerous small businesses encounter financial challenges in their initial years, with cash flow issues being a predominant factor leading to their struggle.

A strategic approach to mitigate these challenges is to consider outsourcing accounting tasks, which can significantly enhance financial management and stability.

Outsourcing accounting offers myriad advantages, such as substantial time and cost savings, augmented cash flow, and the facilitation of more informed and strategic business decisions.

Before we get into the meat and potatoes of this blog, here are some quick benefits you’re going to get when outsourcing your accounting, including:

  • Saving time and money: Accountants can save you time and money by handling all of your accounting tasks, from bookkeeping to tax preparation.
  • Improved cash flow: Accountants can help you improve your cash flow by tracking your income and expenses, and by helping you develop a budget.
  • Better business decisions: Accountants can help you make better business decisions by providing you with financial data and analysis.

9 Key Signs Its Time To Outsource Your Accounting

1. You Don’t Know What You’re Doing

Navigating through the intricate world of accounting, with its ever-changing tax laws and financial regulations, can be daunting.

A lack of expertise can lead to costly errors and missed opportunities.

Outsourcing your accounting tasks to professionals ensures that your finances are in competent hands, allowing you to focus on what you do best – running your business. 

Accountants are up-to-date with the latest in tax laws and accounting practices, ensuring compliance and efficiency.

2. You’re Invoicing Late or Getting Paid Late

Cash flow is the lifeblood of any business.

Ensuring timely invoicing and payment collection is crucial to maintain a healthy cash flow.

However, these tasks are time-consuming and can often get overlooked in the hustle of daily operations.

When you outsource your accounting, you leverage a team of specialized professionals who can efficiently streamline your invoicing process, guaranteeing timely issuance of invoices and punctual collection of payments.

They can also follow up on late payments, ensuring that your cash flow remains steady.

3. You’re Falling Behind in The Market (Technologically Speaking)

The technological landscape is constantly evolving, and keeping up with the latest accounting software is crucial to maintain a competitive edge.

Outsource your accounting to seasoned professionals who are adept in the latest software and tools, guaranteeing your business maintains a competitive edge in the market.

They can help you select the right tools for your business, and ensure that they are utilized to their fullest potential, streamlining operations, and providing valuable insights.

4. You’re Not Getting the Most Out of Your Tax

Tax planning and preparation can be complex and overwhelming.

Without the right expertise, you could be missing out on valuable tax savings.

An outsourced accountant has the knowledge and experience to navigate through the complex tax landscape, ensuring that you take advantage of all available deductions and credits.

This can result in significant tax savings, reducing your overall financial burden.

5. You Don’t Have Time to Focus on The Business

Managing your business’s finances can be time-consuming, taking you away from focusing on growing your business.

Outsourcing your accounting frees up your time, allowing you to concentrate on what matters most – your business.

It ensures that your financial matters are handled efficiently, providing you with more time to strategize and innovate.

6. You Lack the Staff and Resources to Have In-House Accounting

Hiring a full-time in-house accountant or accounting team can be expensive, and may not be feasible for small or growing businesses.

Outsourcing provides access to a team of experienced accountants at a fraction of the cost of in-house staff.

This ensures that you have access to top-tier accounting expertise without the need for a significant investment in personnel and resources.

7. You Struggle to Make Big Business Decisions

Informed decision-making is crucial to the success of any business.

Outsourced accountants provide more than just bookkeeping; they offer valuable financial insights and analysis, helping you make smarter, data-driven decisions.

With a clear understanding of your financial position, you can make strategic decisions that drive growth and profitability.

8. You’re Growing Too Fast or Not at All

Whether your business is rapidly expanding, or you’re facing stagnation, outsourcing your accounting can provide the stability and support you need.

For fast-growing businesses, an outsourced accounting team can scale with you, ensuring that your financial systems keep pace with your growth.

For businesses facing stagnation, they can provide insights and strategies to reinvigorate your financial outlook.

9. You Worry a Lot

Running a business comes with its fair share of stresses and worries. Managing finances adds an additional layer of complexity and concern.

Outsourcing your accounting can provide peace of mind, knowing that your financial matters are in the hands of professionals.

This reduces stress, allowing you to focus on running and growing your business with confidence.


If you resonate with any of the above signs, it might be the right moment to take the step towards outsourcing. To make this transition smooth and effective, consider reaching out to Tennick Accountants. Our team of professionals can provide tailored solutions to fit your business needs, ensuring you’re on the right track.

Lee Richardson – Director of Coast Technology Limited

"Having spoken to our clients, it has made me appreciate more than ever how Graeme and his team not once look to make a quick financial gain but instead always look to assist and ensure that we never once felt alone."

Profile: Lee Richardson, Tech Director

Speak to the team about your goals and vision. We'll tell you how we can help you make them a reality.

Are you looking to work with a strategic accounting partner to help shape your business’s future? We’d love to hear from you