Most founders don't start a company to reconcile bank statements. At some point, doing the books yourself costs more than it saves, in time, stress and missed deadlines. Here's how to decide, and what good outsourced bookkeeping looks like.
What does outsourced bookkeeping include?
A typical monthly service covers:
- Recording sales, expenses and bills, and categorising them correctly
- Bank reconciliation for every account
- Month-end close and management accounts (profit and loss, cash flow, aged receivables and payables)
- Tax compliance: VAT returns, WHT schedules, PAYE and pension remittance support
- Payroll: calculating pay, payslips and statutory schedules
- Year-end: preparing records for the audit, company income tax returns and CAC annual returns
Some providers also offer fractional CFO support: budgets, forecasts, pricing and investor reporting.
When is it worth outsourcing?
Consider it when:
- You or a founder spend more than 4–5 hours a month on books and filings.
- Deadlines are being missed or you've paid penalties.
- You're VAT registered and have staff on PAYE and pension.
- You need reliable numbers for a loan, investor or big tender.
- You're not ready for a full-time accountant salary and benefits.
Outsourced vs in-house
| Outsourced | In-house accountant | |
|---|---|---|
| Cost | Monthly fee | Salary + pension + NSITF/ITF + tools + management |
| Expertise | Team of specialists (tax, payroll, reporting) | One person's experience |
| Continuity | Covered during leave | Gaps when they're away or leave |
| Proximity | Less day-to-day presence | Always available |
| Best for | Most SMEs up to mid-size | Larger companies with daily finance work |
Use the cost of an employee calculator to see the true cost of a hire.
How is it priced?
Most providers charge a monthly fee based on:
- Transaction volume (invoices, bills, bank lines per month)
- Number of bank accounts and entities
- Services (bookkeeping only, plus tax, plus payroll)
- Headcount for payroll
- Catch-up work for months or years behind, usually quoted separately
Market rates vary widely by provider and complexity, so get a fixed quote after they've seen your records.
Questions to ask a provider
- Who exactly will do the work, and what are their qualifications (for example ICAN or CITN)?
- What's included each month, and what costs extra?
- What will I receive each month, and by what date?
- Who files and pays taxes, and who's accountable if a deadline is missed?
- How do you access my records, and how do you protect them?
- Can I get my data out if we part ways?
Doing it yourself, with help
If you're not ready to outsource, good software does much of the work: automatic invoice records, payroll calculations and a tax calendar. BizBooks does that for free to start, and when you want to hand it over, BizBooks Advisors can take on bookkeeping, tax filing and payroll from the same records. See Advisors.
Frequently asked questions
What does an outsourced bookkeeper do?
Records and categorises transactions, reconciles bank accounts, prepares monthly reports and often handles tax filings and payroll.
Is it cheaper to outsource bookkeeping than hire an accountant?
For most small and medium companies, yes. You pay for the work you need rather than a full-time salary plus statutory costs.
Can I outsource only payroll or only tax?
Yes. Many providers offer bookkeeping, tax and payroll separately or together.
What should I prepare before outsourcing?
Bank statements, invoices, receipts, payroll records, previous tax filings and access to any software you use.