QX is an ICAEW registered firm specialising in providing Accountancy Outsourcing Services to UK Companies. QX’s head office is in the UK and it is supported by over 200 professionals in our offices in India. QX provides a wide range of accounting services to Private Limited Companies & PLC’s across the UK, including AIM quoted companies. We also possess specialised accounting experience within the recruitment sector.

Finance & Accounting  

The QX Accounting team is made up from Chartered Accountants, all experienced in UK GAAP, and has over 100 years of combined accounting experience. Read More...The QX Accounting team is made up from Chartered Accountants, all experienced in UK GAAP, and has over 100 years of combined accounting experience.
The workforce also has internal IT and HR teams to facilitate the transition period and provide ongoing and excellent support
QX works with client’s financial team to provide bespoke outsourcing solutions, designed to save significant costs without compromising on high quality management accounting services.

QX guarantees savings of up least 50% of your current accounting costs

Payroll 

The payroll process has to be highly efficient and streamlined to ensure any follow up costs and query regeneration are minimalised. Read More...The payroll process has to be highly efficient and streamlined to ensure any follow up costs and query regeneration are minimalised.

QX will act as your payroll department, enabling your own resources to be used more effectively.
We deal with:

ο processing timesheets
ο generating payslips
ο invoicing clients and suppliers
ο generating periodic reports for clients
ο filing PAYE and NIC returns
ο any correspondence with the Inland Revenue

We also provide specialised payroll services to suit certain sectors and for instance run a daily payroll for many recruitment companies.

Book Keeping 

Book keeping is one of the most essential components of running a professionally managed company. It is a series of processes which records the transactions carried out by a company in its ordinary course of business. The essence of book keeping should be such that not only all the transactions carried out by the company are reflected in their books of accounts, but the books should qualitatively and quantitatively depict the position of the business and its core competence and high productivity avenues. Read More...Book keeping is one of the most essential components of running a professionally managed company. It is a series of processes which records the transactions carried out by a company in its ordinary course of business. The essence of book keeping should be such that not only all the transactions carried out by the company are reflected in their books of accounts, but the books should qualitatively and quantitatively depict the position of the business and its core competence and high productivity avenues.

We offer a complete set of Book keeping services. We maintain the following records on behalf of our clients in the UK:

ο Purchase Ledger Control
ο Sales Ledger Control
ο Sales Invoicing
ο Credit Control
ο Bank Reconciliation
ο General Ledger
ο Expense Accounting
ο Assets Ledger

Our complete book keeping services are designed in such a way that the client can focus on their core activities within its accounts department.

Credit Control 

QX - Outsourcing Credit Control Service works as an extension to your organisation with the added advantage of eliminating your administrative burden whilst you still retain overall control and visibility of the process. Read More...QX - Outsourcing Credit Control Service works as an extension to your organisation with the added advantage of eliminating your administrative burden whilst you still retain overall control and visibility of the process. QX provides varying degrees of service based upon the threshold of individual specification and the desired objective for each of its clients. With high levels of flexibility and variable degrees of integration, we are able to provide our clients with the highest possible standards of service. These standards are implemented and improvised, as and when needed, by using the skill set of our highly experienced debt collectors and the latest computer & networking technology available.

The Business Benefits

ο Improved cash flow by reducing debtor days (DSO)
ο Cost effective than running in-house
ο Reduced bad debt write offs
ο Reduced cost of the Credit Control function
ο Personalised customer services
ο Reduced recovery costs
ο Better visibility and Management Information

Our complete book keeping services are designed in such a way that the client can focus on their core activities within its accounts department.

Management Accounting 

Management account is the next logical step after book keeping wherein summarisation and report generation procedures are adopted by our highly qualified management accountants to ensure the receipt of timely and useful information to the top management of the client. Read More...Management account is the next logical step after book keeping wherein summarisation and report generation procedures are adopted by our highly qualified management accountants to ensure the receipt of timely and useful information to the top management of the client. The top management, who has no time to go through the significance of each and every transaction, generally need a broad overall report signifying the extent and scope of their activities, the targets achieved, the budgeted variances and details about their cost and profit centres

QX can perform all your finance functions, including

ο Maintenance of Sales & Purchase Ledger
ο Invoicing and Credit Control
ο Supplier Reconciliations and Payment Runs
ο Cash Book, Bank Reconciliations, Cash flow & Treasury
ο Payroll
ο VAT
ο Management Accounts
ο Year audit file and Accounts

Some clients outsource their entire accounting department; others cherry-pick the services they require. The QX team will work with you to decide what suits you best.

Budgeting & Forecasting 

Budgeting and forecasting is an integral business activity leading to the achievement of various business objectives. Budgeting is the process of quantifying costs attributable to a specific department or cost centre. Read More...Budgeting and forecasting is an integral business activity leading to the achievement of various business objectives. Budgeting is the process of quantifying costs attributable to a specific department or cost centre. It deals with the estimation and deployment of specific funds available to the business unit. A budget should typically be created in an integrated and phased manner in such a way that the department or business unit does not feel short-changed in comparison with its scope and extent of activities. Forecasting deals with the estimation of revenue or net proceeds from the sale of a company’s product or service. Forecasting plays an important role in establishing and estimating the cash flow of a company. A proper forecasting process would take into consideration the factors which would create a ‘cash-crunch’ situation for the company and the solutions which could be employed to ensure that this eventuality does not take place.

At QX, we can make available to you the various benefits of Budgeting & Forecasting which are:

Finance & Government reporting 

This process is meant to comply with the legal conditions set out by the Government of the country the client is situated it. It deals with delivering reports to Government organisations on the basis of which the Government Departments collect various types of taxes. The reporting aspect of the process also employs a wide knowledge base which furnishes the Finance & Government departments with the reports they require at recurring intervals. Read More...This process is meant to comply with the legal conditions set out by the Government of the country the client is situated it. It deals with delivering reports to Government organisations on the basis of which the Government Departments collect various types of taxes. The reporting aspect of the process also employs a wide knowledge base which furnishes the Finance & Government departments with the reports they require at recurring intervals.

In every organisation it is important to file reports to Government authorities on time to avoid any penalties and legal actions. Our tax experts will ensure the avoidance of such adverse events by taking care of the following functions:

ο Corporation Tax Returns
ο Payroll Annual Returns
ο Annual Accounts with the Companies House
ο VAT Returns
ο Reporting to various authorities. For e.g. - AIMS, NHS Authorities etc