Outsourcing

We work with many businesses that need finance expertise but may not require a full-time in-house finance resource.

We often work as a hybrid extension of your existing finance function, by working closely with your in-house finance team, and by agreement taking ownership of specific responsibilities.  

Bishop Fleming’s comprehensive range of outsourced solutions are designed to support you with the accounting, financial and operational needs of your business. By becoming ‘part’ of your finance team we can deliver a flexible resource that provides tailored services to match your business requirements. We evaluate the existing finance functions and resource within your business, and make recommendations on the most appropriate structure, internal processes, and systems to manage the day-to-day financial operations, and assess which elements, if any, are appropriate to outsource. 

We know that time is precious and running your business is your top priority, which is why outsourcing some of your financial and operational tasks to us gives you more time to do exactly that! 

We advise businesses on the design and implementation of new finance systems, whilst utilising digital technology to access process efficiencies and develop robust financial controls within the business. 

We seek to optimise the integration of other digital platforms (e.g., e-commerce, Inventory, POS and CRM) into the core accounting system to eliminate manual processing and provide more accurate real time data.  

Our approach is to modernise the accounting functions via invoice automation, receipt capture, expense management, electronic payments, credit control and many other processes which often then improves cashflow.  

For any new system implementation projects, we will agree a project timetable with you to enable a smooth and visible transition to the new platform(s) and migration of your existing data.  

Our team of implementation experts will guide you through the project journey. The team will also deliver to your in-house people the required specific training and ongoing support. We have extensive experience in many of the popular accounting cloud platforms, such as Xero, Sage and QuickBooks.  

Find out more about our digital accounting services here.

We work with you and your finance team to help you keep your records up to date and compliant. The first thing we do is listen to you and then review your current records. 

No matter the size of your business, we can play an active role to help ensure that your accounting records are appropriately and accurately maintained and that there are sufficient procedures and controls in place. We often advise on best practice, and we support businesses with regular reviews of accounting transactions to validate their completeness prior to undertaking business performance reviews, or preparing annual statutory accounts.  

Many businesses decide to outsource their payroll and pension administration, which is why we have a dedicated team of payroll professionals who can provide these services.  For more information on this service click here. 

Our Employer Solutions service aims to help you comply with current employment tax legislation as well as advising on the most tax-efficient ways to incentivise your staff. Particular areas we can advise on relate to benefits in kind, global mobility, status and share schemes. For more information on this service click here.

We assist businesses in meeting their VAT filing obligations with HMRC. We can prepare the VAT return from your records or undertake a review of the transactions behind the return, and then discuss this with you prior to the return's submission to HMRC via Making Tax Digital. 

We can advise on whether you are adopting the most appropriate VAT scheme for your business, such as the accrual method, cash accounting, the second-hand margin scheme, other special scheme or the flat rate scheme.  

We are able to assist with the registration of a VAT scheme for individual entities or groups and provide advice on the most appropriate scheme start date to maximise VAT recovery.   

We advise businesses on the accurate recording of VAT transactions in their digital accounting systems.  

Our VAT team are on hand to provide advice on the more complex areas of the tax, such as international trade, Land and buildings, Construction, and partially exempt businesses.

Accurate and timely management accounts are important for you to be able to monitor your organisation’s financial performance.  We have a wealth of experience in creating bespoke accounts which are relevant to your business goals. Our cloud-based accounting service provides access to your accounts and financial information in real time and from any location, which means you can remain fully aware of how your business is performing at any time. 

We can prepare monthly or quarterly management accounts for both single entities and corporate groups.  

Once again, the first thing we do is listen to you about your requirements. We then take this information to produce for you timely and meaningful management accounts.