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Financial Accounting

 

Financial accounting is the foundation of management processes in every company. Its implementation and the generation of high-quality data is a sophisticated process, which requires highly educated specialists and a professional approach. This is why the wage level of financial accounting specialists is usually above the average in every economic environment. However, one of the priorities of any developing company is to maintain operational expenditure at a level that ensures the company’s sustainable competitive edge. One of the most common ways of cost saving is to outsource business operations. The term ‘outsourcing’ means that the goods and services directly related to and supporting the main activity of the company are bought in.

The main advantages of outsourcing accounting services are as follows:

 

1. Improved time management – by delegating tasks to the service provider, employees can focus on specific tasks and through this achieve more. Thus company management does not have to deal with issues of minor importance and they can focus on more strategic problems.

 

2. The performance capacity of the company providing the service is more effective – the company that delivers accounting services to you does not require any benefits or rest. You do not have to deal with problems related to absenteeism due to health reasons and the delivery of service will not be interrupted. Employees are professionals in their field and the service provider takes care of their further training.

 

3. Cost efficiency – the average monthly salary of an accountant who is able to close the books may amount to several thousand euros in a small company. If you use the services of Austin OÜ, you will not have to worry about high salary payments and necessary training expenses and will thereby save up to 80% of costs to your company.

 

The outsourcing of the service guarantees essential flexibility and efficiency in the management of the company, as you only pay for the service used.

Austin offers accounting services to local SMEs. We will take care of the company’s settlements, reporting and the use of any other necessary financial information. At Austin, we are not merely accountants – we think together with the management and owners of the company and help develop each activity of our customers in order to create the safe working environment thereby contributing to the development of the company.