Outsourcing Today
Small and medium size businesses are increasingly looking at outsourcing and offshore outsourcing (“offshoring”) as a means of focusing on core business activities. As a result, a range of business and financial processes such as Finance Department offshoring is experiencing significant growth. When properly managed, the benefits of outsourcing go well beyond cost reduction and allow organisations to:
Focus on their core business activities.- Improve operational efficiency.
- Respond more quickly to fluctuations in work level.
- Generally better control resourcing, administrative and technology costs.
Should You Be Outsourcing Your Finance Function
When making this assessment, management should ask themselves the following key questions:
1. Does managing an in-house finance team deflect valuable time and resource in running my business?
2. Are we satisfied with the day-to-day operation of our finance team? Does it, for example, consistently provide me with helpful, accurate and timely management information to enable us to better manage our business?
3. Is the level of staff turnover in our finance team acceptable and are we satisfied with the time and resource spent in recruiting, training and retaining finance staff?
4. Are we satisfied with the cost of running our finance team, including personnel, allocated rent, information technology etc.?
5. Does the workload of my finance department remain largely constant in any given year or does it vary at key reporting deadlines, such as year end?
In short, are we getting good value from our finance function?
Services
Link Kaplan offers a complete real time Finance Department outsource solution allowing our clients to outsource some or all of their finance functions, including:
1. Purchase Ledger: Recording supplier invoices and payments, running aged creditor reports, processing payments and liaison with suppliers.
2. Sales Ledger: Issuing sales invoices, recording sales receipts and credit control.
3. Bank and Cash Ledgers: Maintaining bank and cash ledgers.
4. Reconciliations: Performance of all key reconciliations such as bank, supplier statement, VAT, PAYE and National Insurance.
5. VAT: Preparation and submission of VAT returns.
6. Payroll: Processing payroll including staff payments and filing of returns.
7. Management Reporting: Production of management reports, including flash reports, together with producing detailed Budgets and Cash Forecasts.
8. Financial Year End Support: Preparation of schedules for accounts, tax and audit purposes.
We use a range of accounting software including packages from Sage, QuickBooks and VT with clients provided with remote access to their financial ledgers as and when this is required.
Why Use Link KaplanLink Kaplan brings together senior finance and outsourcing professionals who have set up successful finance outsourcing operations, both onshore and offshore, for a number of fast growing businesses.
The following stands us apart from our competitors:
1. We have a highly professional UK front office managed by experienced Chartered Accountants with our clients assigned a UK Account Manager who will act as first point of contact for your queries.
2. Our back office partners are managed by qualified accountants with first hand knowledge of running and managing finance functions of UK businesses. Back office staff are fluent English speakers and contactable via UK phone numbers.
3. We contractually guarantee your Data Protection rights.
The Process
Our UK team will work with you to tailor a solution to meet your specific requirements. We will not offshore a process unless we are comfortable that we can offer the quality and service you require.
Link Kaplan has a flexible approach to data capture, which can be tailored to meet your requirements. This includes:
1. You can scan your records uploading them directly to our server through a secure encrypted weblink. Alternatively, these can be sent to us via disc.
2. You can send your records to us. We would then scan the records in the UK before returning them to you.
3. Small volumes of client data or supplementary information can be either faxed directly to UK front office, or alternatively, e-mailed to us.
Bookkeeping, VAT and Payroll Bureau
Link Kaplan offers a complete and efficient bookkeeping service that includes:
1. Maintaining your financial ledgers
2. Preparation and filing of VAT Returns
3. Administration of Payroll
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We prepare annual financial statements and are registered to conduct Audit Work by the Institute of Chartered Accountants in England & Wales.
We also undertake Limited Scope Reviews for clients when required, for example, where internal management or third party lenders require specific assurance over key aspects of the business accounts.
to the topPreparation of Tax Returns and Tax Planning
UK and international taxation is a complex and dynamic field. Link Kaplan offers a full tax service, and together with our network of associates, is able to:
1. Manage income tax self assessment returns. As part of this service, we can act as your agent, submitting annual assessments and dealing directly with HM Revenue & Customs on your behalf.
2. An efficient corporation tax return service for limited companies. Again, we can act as your agent and liaise directly with the Revenue.
3. Offer a tax planning service for both UK and international clients to ensure you implement the most advantageous tax strategies when starting up new businesses, managing growing businesses, disposing of your business and when succession and estate planning issues need to be considered.
to the topBusiness Advisory
Link Kaplan invests time in understanding your business in order to deliver practical and commercial advice.
Our advisory work includes:
1. Preparation of business and financial plans, for example, when raising finance and making business applications to the Home Office.
2. Assessment of the financial performance of your business and developing strategies for improving business performance.
3. Review of your business and financial processes to help streamline operations and improve financial control.
4. Developing management reporting processes to help you better manage and control your business.
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Company Formation
Our services include:
1. Setting up and registering your new company. We will ensure your chosen name does not infringe with any legislation.
2. Handling share issues and registering these details at Companies House.
3. Registering and administering Directorships.
VAT Registration
We will advise you as to whether your company should be registered for VAT. If registration is appropriate, we can complete and file the necessary forms on your behalf.
Opening Your Bank Account
We have close links with major High Street banks.
Our administration team can help you open your bank account as well as liaise with your Relationship Manager if you require this service.
Preparation and Filing of Statutory Returns
Link Kaplan will prepare and submit all documentation and related Board and General Meeting minutes and resolutions.
We also provide a Registered Office service to our clients. As part of our Company Secretarial service, our experienced team can also prepare and submit your Annual Returns to Companies House.
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