5 Ways Professional Services Firms Can Save Time with Outsourced Accounting

The Balancing Act: Managing Finances in Professional Services
Running a professional services firm comes with its fair share of challenges. From keeping clients happy to meeting deadlines, there’s always something demanding your attention. But amidst the whirlwind of projects, pitches, and proposals, one thing often gets pushed to the bottom of the to-do list-managing your finances.

For many firms, accounting is a necessary evil-a time-consuming, often confusing task that drains energy better spent elsewhere. Chasing payments, handling payroll, and keeping the taxman happy can quickly become a full-time job, leaving little room for what really matters: growing your business.

But here’s the good news-you don’t have to do it all yourself. Outsourcing your accounting can save time, stress, and money, helping your business run smoothly while you focus on delivering top-notch services. Let’s look at some of the biggest pain points and how outsourcing can make them disappear.

The Never-Ending Chase: Managing Purchase Invoices and Payments
If invoicing were an Olympic sport, most professional services firms would qualify for a medal. Keeping track of purchase invoices, ensuring suppliers are paid on time, and managing cash flow can be a relentless cycle—one that takes up hours of valuable time every month.

Late payments and lost invoices can disrupt operations. A service is procured, the invoice arrives… and then? A pile of paperwork, missed due dates, and the risk of penalties or supplier disputes. Before you know it, you’re spending more time firefighting payment issues than running your business.

Outsourcing your purchase invoice management means:
1. Invoices are processed promptly and accurately, avoiding costly delays.
2. Payments are scheduled efficiently, ensuring suppliers are always paid on time.
3. Your cash flow remains predictable and under control.

No more bottlenecks, no more stress-just a seamless process that keeps your business running
smoothly.

Payroll: Small Team, Big Headache
Payroll for small teams should be simple. Yet somehow, it never is. National Insurance, pensions, holiday pay, statutory sick leave… Before you know it, payday becomes an admin nightmare.

Small business owners often handle payroll themselves, but let’s be honest it’s a job best left to the experts. One small miscalculation could mean unhappy employees (or worse, a fine from HMRC).

By outsourcing payroll, you can:
1. Ensure everyone gets paid accurately and on time no more last-minute scrambles.
2. Stay fully compliant with payroll laws and tax regulations.
3. Free up time to focus on growing your team, not just paying them.

Because let’s face it your time is better spent leading your business, not processing payslips.

The Smarter Solution: Outsourcing to Save Time and Stress
If keeping up with finances is draining your time and energy, it’s time to bring in the experts. Outsourcing your accounting means no more late nights balancing the books, no more worrying about tax deadlines, and no more chasing unpaid invoices.

Instead, you get:
1. Expert accountants who understand your business and ensure everything runs smoothly.
2. More time to focus on what you do best, whether that’s winning new clients or delivering great work.
3. Peace of mind knowing your finances are in good hands.

Accounting doesn’t have to be a burden. With the right support, it becomes a seamless, stress-free part of your business.

Let’s Make Your Finances Work for You
At Virgate, we help professional services firms take control of their finances without the hassle. Whether it’s invoicing, payroll, tax compliance, or financial reporting, our team is here to handle the numbers so you don’t have to.

Ready to save time and money? Let’s chat. Book a free consultation today and see how outsourcing your accounting can transform your business.