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Accounts for businesses

Gaining from our experience in serving accounting practices in the UK and US, QX Finance and Accounts Outsourcing services assists corporate clients looking to achieve a higher level of business performance through an efficient and effective finance, accounts and payroll service.

Our clients come to us seeking fresh ideas and new ways to run their F&A processes. Cost reduction is invariably the priority, but driving efficiencies without reducing quality is also high on the list with them. QX delivers these results. Combining our extensive experience, skilled teams and technology, we have demonstrated our ability to deliver measurable improvements across many industry sectors. One of our healthcare clients has now saved in excess of £2.5 million over the contract period and continues to save more.

Who do we serve?

We provide payroll, finance and accounting outsourcing services to all sizes of businesses across industry sectors. Whether it’s a large student accommodation business looking to increase revenues while reducing cost, a keen CFO in a software company seeking insights to drive business improvement, or a healthcare company that wants timely and accurate management information, QX has the proven expertise to deliver efficiencies, business transformation and cost savings up to 50%.

What are the benefits?

Our services are customised for each industry vertical and we use clear metrics, such as savings and service-level agreements to assure business outcomes. In addition to those mentioned, the following are some other benefits of outsourcing the finance and accounting function:

  • 1

    Get informative reports that provide improved understanding of business spending through the entire supply chain to help budget control and standardize procedures company-wide

  • 2

    Move focus from basic transactional services such as accounts payable to more strategic functions like budgets, forecasts and internal audits

  • 3

    Reduce the time it takes to close books. Gain from the time difference.

  • 4

    Develop better benchmark and baseline financial processes to meet regulatory requirements

  • 5

    Identify cost savings through supplier consolidation and duplicate payment analysis

  • 6

    Open access to state-of-the-art technology, and a team of experts who use major accounting and payroll software packages every day

Services we provide
    General Accounting

  • Bank reconciliations
  • Journal entry postings
  • Reconcile control accounts
  • Accruals and prepayments
  • Manage consolidation
    Accounts Payable

  • Supplier set-up and maintenance
  • Purchase order processing
  • Invoice and payment processing
  • Expense claim processing
  • Supplier statement reconciliation
  • Helpdesk support
    Credit Control

  • Payment chasing and query resolution
  • Cash posting and allocation
  • Ageing report with comments
  • Customer account reconciliation
  • Liaise with legal compliance department
  • Bad debts reports
    Accounts Receivable

  • Customer set-up
  • Customer invoicing
  • Revenue reconciliation
  • Cash allocation
    Financial Reporting

  • Management accounts
  • Commentary and variance analysis
  • KPI reporting
  • Decision and planning support
  • VAT and regulatory reporting
    Payroll

  • Weekly/monthly payroll
  • Statutory deductions
  • Customised payroll reports
  • RTI submission and statutory compliance
    Fixed Assets

  • Master set-up and maintenance
  • Calculation and posting of depreciation
  • Capital budgeting process