What Accounting Services Can Be Outsourced?

January 13, 2022

There are many reasons that companies choose to outsource some of their accounting and finance functions. The most common that we see at TGRP Solutions is a lack of internal resources to support a company in its existing stage. Companies that grow quickly find themselves in the position of not having the staff to support the day-to-day accounting and finance functions and also take on more strategic duties. Other times, companies have a small accounting department with one or two people and no additional capacity to deal with newly important matters like:

  • Accounting process automation
  • Financial planning and analysis
  • Audit preparation
  • Accounting system implementation
  • Cleanup work to prepare a company to be acquired or debt deal prep

A common issue is when a company experiences rapid growth and suddenly requires more staff and a higher level of accounting and finance expertise than they have within the company. If any of these scenarios sound familiar, it might be time to seek help. Perhaps you’re not in a situation to hire additional full-time employees. That’s where TGRP Solutions can assist.

Many clients turn to our expert team for outsourced accounting help because it saves them money and allows them to stay focused on running their business. Some clients have one person in charge of handling some accounting functions (like bookkeeping and paying invoices) but need additional expertise and support that are beyond the capabilities of this staff person. We can give you the personnel resources you need.

What kind of services do we provide? Here are a few of the most common (although this list is just a small sample):

Accounting operations cleanup – Perhaps your accounting systems are not as tuned up as they could be. Whether you need help with financial statement preparation, bank reconciliation and accounting record maintenance, accounts receivable or accounts payable entries, other account reconciliations, or something else, our team can support you.

Controller/CFO leadership – As your business grows, the accounting and finance functions become much more complex. If you do not have a financial leader in house, you don’t have anyone to provide insights and oversee everything from strategic decisions to financial reporting to audit preparation. Our team can help with this and much more.

Revenue recognition – Many organizations lack the internal expertise to understand revenue recognition rules. TGRP Solutions can help ensure you’re compliant with the proper accounting guidance and prepared before your year-end audit.

Financial analysis – Every organization should define key performance indicators and monitor against them, but it’s difficult to find time for this sort of effort when your staff is lean and your time is limited. TGRP Solutions can help you ensure you are paying attention to those important metrics.

Audit preparation – When your internal team isn’t experienced working with auditors, that sets you up for a chaotic, stressful audit. TGRP Solutions helps many clients prepare financial statements and disclosures, reconciliations of balance sheet items and more to ensure you complete your auditor’s checklist before they arrive. Our consultants have Big 4 public accounting experience and are experienced at this type of work.

TGRP Solutions can be an extension of your accounting team. We have experience working with companies large and small and can step in as an additional set of hands to ensure your accounting tasks are handled timely and accurately or perform more complex consulting work. Our professionals are capable of everything from audit support to general ledger cleanup, from technical accounting research to pre-IPO work.

If you’re short on talent or staff, look to us for a competitively priced solution.

Contact us today to learn more about our consulting services to support the CFO organization as well as our staffing solutions for short-term project needs. 

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