How much would we still have to do on the accounts prep once we outsource?
When it comes to accounts preparation, your outsourcer will do the accounts prep. That’s what you are paying them for. However, you will still need to factor in time to:
1. Get all the information (bank statements, records etc) uploaded, posted or scanned in and sent to your outsourcer
2. Handle and resolve with your client the queries that come from the outsourcer
3. Review the set of accounts when they are finalised by the outsourcer
If your client uses a cloud-based bookkeeping package such as Xero, Quickbooks, Freeagent then it is normally takes no time at all to get all the information over to the outsourcer. (Of course, that assumes that your outsourcing provider uses the main cloud-based bookkeeping packages.)
The more you can educate clients to have all their data up-to-date on the cloud with all the relevant documents within their bookkeeping package, e.g. hire purchase agreements, then the quicker it is to get all the information needed to start the accounts prep process.