Top 7 Finance Tasks You Should Be Outsourcing Today

When you run a business, it’s easy to fall into the trap of doing everything yourself. From managing staff to chasing invoices, most business owners start off wearing every hat, including the accountant’s one.

But here's the truth: trying to juggle all the finance tasks solo is a fast track to burnout, costly mistakes, and stunted growth.

Outsourcing isn't just for big companies with even bigger budgets it's for smart business owners who value their time and sanity.

Let’s explore 7 finance tasks you should outsource right now, why they’re hard to stay on top of, and how getting support can transform your business.

1. Bookkeeping

Bookkeeping is one of those tasks that seems “easy” until you’re six months behind, trying to figure out if that £37.99 Amazon order was for printer ink or a new desk lamp.

Why businesses struggle:

• It’s repetitive and dull, so it keeps getting pushed down the list.

• Owners often don’t know what “good bookkeeping” even looks like.

• They assume it's cheaper to DIY, until they lose receipts or overpay tax.

Outsourcing fix: Outsourcing your bookkeeping means your records are updated weekly (not once in a panic at year-end). Your bank is reconciled, VAT tracked, and every expense categorised so your accounts are tidy, ready for reporting, and tax-efficient. With cloud software, you can check your numbers in real time, while someone else keeps the back-end in shape.

💸 Average cost to outsource:

 £150–£400/month (depending on volume)

2. Payroll

Paying staff correctly and on time is non-negotiable. But payroll is full of rules, updates, and acronyms like PAYE, NI, and auto-enrolment that change more often than British weather.

Why businesses struggle:

• Rules shift constantly, especially with pensions and holiday pay.

  
  

• Even small mistakes (like tax code errors) can lead to fines.

  
  

• Most owners don’t have time to run payroll and do their actual job.

Outsourcing fix: A payroll provider handles it all. PAYE, auto-enrolment pensions, payslips, and HMRC reporting. They’ll make sure everyone is paid on time, the correct tax is deducted, and your filings are done right. You’ll save time every month and avoid late penalties or awkward pay mistakes.

💸 Average cost to outsource:

 £5–£10 per payslip (or from £50/month)

3. VAT Returns

VAT is a beast. Rates vary, rules confuse, and mistakes are costly. And if you’re not tracking expenses and sales correctly each quarter, welcome to the fine club.

Why businesses struggle:

• They often file late or incorrectly because bookkeeping’s not up to date.

  
  

• VAT rules for different industries (like construction or hospitality) are complex.

  
  

• It’s hard to know what you can and can’t claim.

  
  

Outsourcing fix: A VAT specialist will track your VAT obligations, prepare your returns, submit them on time, and ensure you’re reclaiming everything you’re entitled to. They’ll also advise on flat rate vs standard schemes and when to register or deregister. You stay compliant and reduce your VAT bill without lifting a finger.

💸 Average cost to outsource:

 £50–£150 per quarter

4. CIS Returns (for Construction Businesses)

The Construction Industry Scheme (CIS) is a monthly admin mountain. Get it wrong, and your subcontractors will be annoyed and HMRC might hit you with fines.

Why businesses struggle:

• Deadlines are monthly and easy to miss.

  
  

• They’re unsure about gross vs net status, or what to deduct.

  
  

• It’s fiddly, especially with multiple subcontractors.

  
  

Outsourcing fix: A CIS accountant will process your monthly subcontractor payments, apply the right deductions, issue payment and deduction statements, and submit your monthly CIS return to HMRC all on time. They’ll also monitor if you qualify for gross payment status. You avoid fines, and your subcontractors get paid without delay.

5. Credit Control

Doing the work is hard. Getting paid? Sometimes even harder. But without cash coming in, even a profitable business can struggle.

Why businesses struggle:

• Chasing invoices feels awkward and personal.

  
  

• There’s no system or routine for following up.

  
  

• They forget or delay, then the client “forgets” too.

  
  

Outsourcing fix: Outsourced credit control gives you a dedicated person who politely but firmly follows up on your outstanding invoices. They’ll call, email, and follow up regularly without damaging customer relationships. This keeps your cash flow healthy and ensures you're not constantly chasing overdue payments.

💸 Average cost to outsource:

 £100–£500/month, or commission-based

6. Management Accounts

Imagine running your business without knowing if you’re making money. That’s what happens when you don’t review monthly reports.

Why businesses struggle:

• They don’t know what reports to run or how to read them.

  
  

• Year-end accounts feel like enough (they’re not).

  
  

• They’re too busy to stop and analyse their own numbers.

  
  

Outsourcing fix: A management accountant will give you monthly reports that break down your profit, cash flow, margins, and cost trends. They’ll highlight issues before they become problems and help you make better decisions like when to hire, invest, or raise prices. It’s like having a part-time FD, but without the full-time salary.

💸 Average cost to outsource:

 £250–£600/month (varies with business size)

7. Cash Flow Forecasting

Cash flow is the silent killer of small businesses. Even if you’re profitable, you can run out of money if your cash is tied up or poorly timed.

Why businesses struggle:

• They confuse “profit” with “cash in the bank.”

  
  

• Forecasting feels complicated or unnecessary… until it’s too late.

  
  

• They don’t know what to include or how to update it.

  
  

Outsourcing fix: We create rolling 3 to 12-month forecasts, showing when you’ll have cash shortages, tax deadlines, or surplus to invest. You can plan for VAT bills, new hires, or quieter months all with confidence. It’s not about predicting the future perfectly it’s about not being blindsided by it.

💸 Average cost to outsource:

 £100–£300/month or bundled with management accounts

Final Thoughts

If you’re overwhelmed by finance tasks, you’re not failing, you’re just doing too much. The truth is, outsourcing isn’t a cost, it’s a smart investment in your business.

Let’s say you’re spending 10 hours a month trying to manage these tasks. If your time is worth even £50/hour, that’s £500 of energy spent on things you could delegate for less and probably done better.

You can’t grow your business if you're stuck in the admin weeds. So hand it off. Focus on your clients. Focus on strategy. Focus on doing what you do best.

Wrapping up today’s insights, tomorrow we simplify another accounting challenge