Australian accounting firm shares their experience using a BOSS (Back Office Shared Services) outsourced accountant as part of their team and how engaging in accounting outsourcing has benefited their overall business after struggling to find capable local staff.

(PRUnderground) July 8th, 2024

These days taking on outsourced staff is nothing new. BOSS has been in operation for 20 years now and although having to steer through unfamiliar territory in its early days while accounting outsourcing was in its infancy, now BOSS breezes through the outsourcing process with eyes wide open and fully alert to an accounting firm’s needs.

Describe the firm

Typical suburban practice based in Melbourne with about $500,000 turnover. In addition to the Principal, there are 2 accounting and 1 administrative staff. The firm provides accounting and tax planning services. It also has a financial planning dealer arrangement with Lifespan.

When did the firm first consider BOSS and why?

The firm first considered BOSS about 3 years ago, as they were struggling to find competent Client Managers to assist with the preparation and lodgement of tax returns. The Principal was busy doing the work and not able to spend much time working on the practice or helping clients with their specific needs. Whilst there was opportunity for additional services such as financial planning, lack of time made it difficult to pursue such opportunities.

How did the firm go about setting up BOSS?

In appointing a BOSS accountant, the firm had to critically review all workflow procedures, particularly how work was received. Remote access to a specific BOSS directory on the server was established. BOSS provided documentation and guidelines on the best process for communicating with the ‘remote office.’ In addition to email, Skype was set up to allow voice communication at low cost when required. Trial jobs were undertaken to test procedures. When this was seen to be effective, a dedicated accountant was appointed to the firm.

What’s the accountant like?

The accountant is qualified to ICAA standard and is experienced at preparation of accounts and tax returns. He prepares accounts for businesses, companies, partnerships and trusts. Generally, he appears to be quite capable and, as he has adapted to the firm’s approach, he has become more competent in completing work within required budgets. Questions are reasonable and usually directed to the client through the principal of the firm. Many jobs actually now have no review points.

What have been the benefits of the project?

The Principal is now spending minimal time on client work delegated to BOSS. Much as with an internal accountant, the BOSS accountant has become proficient at working in a way that suits the firm. Now that the Principal’s time has been freed up, he is able to focus more on servicing clients better through a focus on additional services such as financial planning and business advice.

Have there been any problems along the way?

Apart from some hiccups initially as the BOSS accountant developed an understanding of the firm’s needs, the process has been relatively smooth. The only jobs that are not currently sent to BOSS are small jobs that require fast processing and quick turnaround.

What is the firm doing now?

Moving forward, the firm will continue to do what it is now doing – to free up the principal’s time and allow him to focus more on practice development and special client matters. The BOSS accountant is always there in the background and no doubt will continue to develop as any employee of the firm would.

About BOSS, BACK OFFICE SHARED SERVICES PTY LTD

BOSS (Back Office Shared Services Pty Ltd) was founded in 2004 to provide skilled accountants and bookkeepers on a full-time, part-time and casual basis to commercial enterprises, accounting and financial services firms in Australia.

BOSS India is a subsidiary of BOSS Australia and runs just like an ultra-modern paperless Australian public practice because the Director and Accountancy Practice Principal, Peter Vickers, has been operating his own successful Australian public practice for over twenty years.

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Original Press Release.