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For many businesses, a question they will face at some point as their business grows and becomes more complex is whether to keep their accountancy in-house or to outsource to an external accountant.
On one hand, an in-house accountant is likely to cost more but allows for better communication and quicker answers. On the other hand, outsourcing your accountancy gives you access to a team of experts and knowledge that an in-house accountant may not possess, but it may slow down communications.
With so many different factors to consider, let’s take a look at the main benefits and pitfalls of both outsourced and in-house accountancy.