Sterling Finance & Accounting
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Finance and accounting outsourcing has been common practice for big businesses for many years, and more recently small and medium-sized companies have been able to take advantage of the service. All, or part of the finance function can be outsourced, a phased approach to outsourcing can be taken, or sensitive areas can be retained in-house.
Sterling’s finance and accounts solutions cover the full range of your requirements. We work directly on your accounts systems as an extension of your business, liaising with internal stakeholders and suppliers, and adopting your brand so that we appear to be part of your business. Our service works each week without fail and can ‘flex’ to meet your business’s growing or reducing needs, even for seasonal peaks and troughs. Sterling’s service gives you access to Finance and Accounts experts via phone, email, or instant messaging systems whenever you need them.
Key Financial Processes
A Comprehensive Overview of Core Financial Functions
Monthly finance reconciliation
Ensuring the accuracy of financial records by comparing them to bank statements.
Management accounts
Providing timely financial information to management to aid in decision-making.
Sales ledger
Tracking all sales transactions, including invoicing, credit notes, and payments received.
Purchase ledger
Monitoring all purchase transactions, including invoices, credit notes, and payments made.
Managing supplier payments
Efficiently processing and authorising supplier payments to maintain good supplier relationships.
Maintaining cash book:
Recording all cash receipts and payments, ensuring accurate cash balances.
Monthly cash flow reports
Analysing cash inflows and outflows to predict future cash positions and identify potential cash shortages or surpluses.
Monthly management accounts
Preparing detailed financial reports, including profit and loss accounts and balance sheets, to monitor business performance.
Statutory accounts
Preparing financial statements that comply with legal and accounting standards for external reporting.
Value-added tax (VAT) returns
Calculating and submitting VAT returns to tax authorities, ensuring compliance with tax regulations.
Bank reconciliations
Verifying the accuracy of bank transactions by comparing them to financial records.
Elevate your financial operations with Sterling's flexible accounts payable outsourcing
The accounts payable process can have a huge impact on cash flow, supplier relationships, and operational functions. Sterling’s outsourced accounts payable service liaises directly with suppliers, internal stakeholders, and managers to keep everyone updated and ensure ledgers are correct, and payments are made at the optimum time. We are also able to help implement purchase order processes for efficient controls.
As Sterling’s service works directly on our client’s own accounts system, the client has the flexibility to move areas of process in-house and outsource without being tied into the service. Functions or processes can be moved in-house should the client’s business strategy change, with transition assistance and training from Sterling. Sterling has experience working on most leading accounts systems including Oracle, SAP, Netsuite, Dynamics, Sage, Xero, Quickbooks, and other sector-specific systems.
Specialist sectors:
Sterling’s clients come from a wide range of sectors including IT services, payment service providers, and manufacturing, however, we do have particular expertise in these areas:
- Recruitment agencies
- Insurance brokers
- Accountancy firms (back off your bookkeeping to Sterling)