Outsourced finance support

Providing your not-for-profit with completely bespoke outsourcing services

Managing finances in-house can be a challenge for many charities and not-for-profit (NFP) organisations. Whether it’s securing the right level of expertise or covering key staff absences, more organisations are now looking to outsourcing as a practical and cost-effective solution.

What are the common challenges that charities may be facing in-house?

Charity accounting is complex and requires specialist knowledge. For many organisations, hiring someone with the right expertise in-house can be a huge challenge and also very expensive.

Finding experienced individuals in the current recruitment market, particularly in niche areas such as charity and not-for-profit sectors is difficult and expensive due to demand. Finding a single individual who can manage both strategic finance matters and day-to-day bookkeeping is also rare.

The more feasible option is often to hire two people with different skill levels, which can place further pressure on the budget and also doubles the recruitment challenge.

Why choose Price Bailey for charity outsourcing?

We’ve worked with charities for many years and currently support over 400 organisations in the sector. Our team has a deep understanding of the financial and regulatory requirements that matter to charities, and pride ourselves in being at the forefront of charity developments, contributing to key debates and championing best practice.

We support a wide variety of charity and not-for-profit clients and can adapt our approach to suit different needs and operating models.

What sets us apart is our people – many of our charity specialists are Trustees themselves or have close connections to the sector, so they understand your circumstances, and genuinely care about the impact of your organisation.

What are the benefits of outsourcing for charities?

Outsourcing allows charities to access a full range of expertise without the overheads and recruitment challenges of building an in-house team.

Outsourcing can bring a number of clear advantages:

Availability

Having the expertise available immediately, removing all time pressure from the recruitment process and allowing for handover with your existing finance team members if they are working a notice period.

Cost efficiency

Reducing the need for full-time finance staff means more funds can be directed to charitable activities. Paying for only the level of support/expertise you need means you don’t end up paying for a highly experienced person to do data entry and administrative tasks.

Continuity

There’s no need to manage cover for sickness, parental leave or holidays. A dedicated person will usually lead the work, with support available from the wider team whenever needed.

Flexibility

If your resource need changes throughout the year, with busier or quieter periods then the level of support can be flexed month on month, meaning you don’t end up over resourced in quiet periods.

Access to broader support

At Price Bailey, our charity clients benefit from our wider network and expertise, which spans audit, governance, VAT and more. Outsourcing is just one of the ways we can support you.

We can help

Contact us today to find out more about how we can help you

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We understand that every charity is different. That’s why our outsourcing services are flexible, with support levels tailored to your organisation’s size, structure and internal resources.

Common areas we can support with include:

  • Bookkeeping and financial controls
  • Management accounts and board reporting
  • Budgeting and forecasting
  • Fund analysis and donor reporting
  • Payroll and pension administration
  • System and process improvements
  • Maternity/paternity and absence cover

As a client of Price Bailey in the not for profit sector you also benefit from:

  • Detailed onboarding exercise, including a full systems and review process and suggestions on improvements to your current systems, processes and governance.
  • A VAT ‘MOT’ during onboarding. VAT is a particularly complex and confusing area for charities and NFP organisations so we ensure there are no issues as early as possible.
  • One to one support, with a dedicated NFP specialist financial controller. Our management team includes NFP specialists who act as FC for an number of our charity and NFP clients and therefore are well equipped to help guide your organsiation.
  • Support from our wider specialists across the firm, this includes our specialist NFP team, tax advisors and strategists.
  • Training and development – we can provide training sessions on areas such as trustee roles and responsibilities, impact reporting, governance and risk management, and reserve policies.
  • Regular content – technical updates for the sector delivered to your email inbox.
  • Newsletters – a 6 monthly financial recap of the updates you need to be aware of.
  • Seminars – free, half day in-person seminars every 6 months covering updates and learnings specifically for the sector.

Why investing in the right support matters for your charity

We understand that many charities are working with tight budgets. But outsourcing isn’t just about cutting costs – it’s about ensuring your organisation has the right financial foundations in place to deliver on its mission.

Our pricing reflects our commitment to delivering the right level of support, with the right people doing the right work at the right time. We also offer contact time – we won’t charge you every time you pick up the phone or drop us a message. Open communication is built into the way we work.

Our services are completely bespoke – no off-the-shelf packages or one-size-fits-all pricing. We take the time to understand your needs and build the right solution for your organisation, which means you get maximum impact for your budget.

We can help

Contact us today to find out more about how we can help you

Get in touch

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