Five reasons why you should outsource your accounting in Morocco

18 August 2019

The life of a company in Morocco can be hectic as the multiple functions to be managed take time and energy. Accounting is an integral part of these functions that require special attention, solid knowledge, and a high degree of rigor. A company can either manage its accounting in-house or outsource it to an accounting firm.

According to The Outsourcing Institute, businesses choose to outsource to improve their core business focus, to avoid the risk and costs of hiring more employees and to gain access to outside expertise that they could not afford otherwise.

Outsource to focus on your core business

Accounting is among the critical functions within a company. As technologies and regulations are evolving at a rapid pace, it is essential to keep track of these changes to keep your accounts fully compliant and up to date. By managing it yourself, you will spend a lot of time on accounting entry, inventory work or tax returns filing instead of handling other essential tasks.

Accounting's outsourcing allows you to focus on your core business and free yourself from all accounting, tax compliance, and administrative tasks. The company can then reassign this free time to jobs with higher added value. Outsourcing your accounting by entrusting it to an accounting firm is the choice of many small businesses, SMEs and multinationals because this outsourcing can be total or partial. This situation allows more flexibility for the company.

Outsource for better compliance

Tax regulations are continually evolving, and it is sometimes complex to stay abreast of all the latest developments. Competent professionals now offer to free you from accounting and tax duties and make sure that your company is up to date with its tax obligations.

Since managers are first and foremost human beings that cannot be everywhere at once, accounting firms are committed to making their life easier by providing ongoing support, advice, and skills. Bookkeeping is up to date, the tax deadlines are met, and the company can grow confidently, supported by the competent eye of a trusted accounting firm.

Accounting services morocco

Outsource to save money

Your company's bookkeeping has a cost, especially if you employ an accountant throughout the year within the structure. Indeed, an inhouse accountant is a full-time employee that must be remunerated, regardless of the invoices processed or the tasks performed. It is a fixed salary that comes out of your company's cash flow each month. Indeed, and when we compare the two options, it represents a higher cost than working with a team of external accountants.

Your accounting firm in Morocco is an ally in the life of the company. By having access to your accounting and tax data, your accountant advises and guides you in the decisions critical to the development of your company. Moreover, an accounting firm charges fees that, in total, represent less than the salary of an in-house accountant.

Outsource for more confidentiality

An accounting employee within the company is not immune from making a mistake that, in some cases, can be very costly. Indeed, the loss of sensitive information often comes from internal employees and can be highly detrimental to the company.

Using a trusted accounting firm ensures the confidentiality of accounting, tax, and administrative data while benefiting from the expertise of professionals with a wealth of experience and knowledge. That said, and even if a CPA cannot be as much available as an in-house accountant, he will be able to offer more guarantees in terms of confidentiality of your company's critical data.

Outsource to be up to date, all the time.

Although the accountant is not on site when a company chooses to outsource, it teams up with a trusted firm that will be present in all circumstances. As an example, using online accounting services allows you to enjoy many of the advantages of an accounting firm, without the disadvantages.

Indeed this option is now facilitated by recent technologies that enable you to connect with your accounting firm in different ways in omnichannel, via chat, messaging or telephone.

Simplified and available accounting

Developed by an accounting firm, WeCount solution allows you to manage your accounting and tax compliance through an app accessible 24 hours a day, seven days a week.

An update of your books in real-time also allows you to have all the documents you may need at your disposal, with a single click, thanks to secure access. Your accounting firm in Morocco also offers you multi-channel access to simplify your life. There is always an accountant available to assist you, even remotely.

 

Other articles

Social security Morocco
29 September 2019

Social security was implemented in Morocco in the aftermath of independence to create solidarity mechanisms capable of relieving the finances of both the state and the Moroccan citizens from the risks of illness, materni ...

Read more
Minimum wage morocco
08 September 2019

Following the signature in April 2019 of an agreement between the General Confederation of Moroccan Enterprises (CGEM) and three trade unions, it was decided to increase the Minimum Wage (SMIG) by 10% over two years. Th ...

Read more

We are reinventing the accounting services in Morocco :

Relieve yourself of your accounting and tax burden. All you have to do is send us your documents via our online platform.