What does an external business accounting firm do?

Posted by Ujjawal jain on April 20th, 2021

Having an external business Accounting and Bookkeeping Services with experience and professionalism can make your company improve, grow and increase its competitiveness. We imagine that if you are a partner of a company, you will be bored of listening to advice from people who think they can do it better than you. 

The normal thing is that you do not pay attention to them; But about what we have just told you, you must take into account what a Bookkeeping Accounting consultancy can do for you.

What does an external business accounting firm do?

The normal thing is that when a company is created, the partners and/or employees are in charge of assuming all its functions. One is in charge of sales, another is in charge of accounting, another is in charge of taxes - Sometimes they have the support of a small manager who, badly or well, assumes the tasks of filing returns on time.

When the business starts to grow, the next step is to create internal departments with your staff to take on these tasks. And over time, many companies realize that they need extra support and it is more convenient for them to outsource these services to a third party (partially or completely). That is, to hire professional Admin support. These external departments take care of all the obligations of the companies.

Accounting obligation: Keeping of financial and cost accounting:

- Tax obligation: Preparation and presentation of all tax and informative declarations applicable to the company. Includes recurring advisory service.

- Labor obligation: Preparation of payroll and personnel management. Likewise, it includes recurrent advice.

- Commercial obligations: Annual Accounts, Official Books, Minutes Books, etc. Includes recurring counseling.

Why am I interested in external business advice?

In your company, there are already those who assume these functions. However, far from being an advantage, this implies burdening the company with a fixed structure that does not usually have specific training as good as that of an external business advisory service. 

See if it will be important to have this type of service, that the main companies in our country have external business advisory services and, in many cases, with more than one to help them out.