An outsourced accountant is a figure that is not a part of the business’s employees array, therefore saving costs in the long term. An outsourced accountant takes care of managing the finances of relatively small companies in the following areas:

1. Accounting – directing bookkeepers and other accountants in the business 
2. Salary calculations and issuing payslips
3. Reporting to the authorities including pension and employee insurance
4. Periodic reports – financial, managerial and cashflow.
5. Maintenance of relationships with banks
6. Business plans and valuations
7. Economic feasibility studies
   
   

An outsourced accountant does not replace the company’s external auditor (accountant) but helps in the field of managing financial, bookkeeping and economic departments, as well as other essential matters of the business.