Why outsourcing your accounting will free up more time to boost your profits

Today’s guest blog is by Sarah Travell of Virgate Accounts Ltd!

When it comes to the hands-on, day-to-day running of your hospitality business, you have enough headaches to deal with. From dealing with customers and ensuring they are happy with the service, to make sure you are fully stocked with all the things necessary to provide just what your customers are looking for, your day is already full enough. Add in the general accounts administration as well, and your workload begins to look heavy and demanding. This is why it makes sense to outsource your accounting to a specialised external organisation.

Providing premium-quality customer service should be the number one priority of any hospitality business. Here are three great reasons for outsourcing your accounts will make you more able to do just that.

1) Accuracy

An external accounts service provider will dedicate themselves to providing clear and accurate accounts for you, and they will go the extra mile to ensure that all your company’s transactions are processed precisely and accurately. In addition, a specialised outsourced provider will have access to the latest software designed just for this purpose, such as Xero, which is cloud-based, meaning information and resources are stored and accessed online. They will also have access to your company’s EPOS (Electronic Point-of-Sale) systems, which contain all sales information including how payment was taken, and any petty cash purchases. This means they can synchronise the data and receipts with minimal risk of human error.


Dart in the bullseye on a dartboard.



2) Speed

An outsourced accounting department will be happy to commit to deadlines for you, and very often they’ll provide you with real-time information on a cloud-based dashboard which you can access securely at any time. Not having to worry about whether you meet your internal accounting deadlines is a huge advantage for you. You will be able to focus your energy and attention on your customer base. The fact that you have the option to check on your accounts whenever you like, in real-time, means you’ll always be able to keep an eye on what’s happening. So you’ll always know where your business stands.


Car speedometer


3) Expertise 

With their dedicated expertise, specialist outsourced providers will be able to spot any potential problems long before they get out of hand, and they’ll also be able to advise you on best practices and what to do. By outsourcing, you’ll have access to a whole team. They will be providing a range of services at a fraction of the cost of hiring someone internally. You’ll find that this broad range of advice and guidance will be of huge advantage to you in running your business. It will be much cheaper than if you were to consult other specialists on a one-to-one basis. You won’t have to rent office space for them either!


Man in suit holding up a thumbs-up

With a team of specialists looking after your accounts for you, you’ll free yourself up. This is so you can focus on the things that are vital to the day-to-day running of your company. By outsourcing your accounts, you will no longer have to spend time worrying about crunching numbers. You’ll be able to focus on what’s most important of all: your customers.

This was a guest blog by Sarah Travell of Virgate Accounts Ltd


Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email