Whatever stage of lifecycle your organisation is at, whether you are starting up, accelerating your growth or well-established, we can provide a full range of outsourced finance and accounting services to help you reach your goals.
Our aim will be to become your trusted, reliable operating partner, with friendly faces from our large team of UK-based finance professionals effectively becoming your accounts department.
From transactional finance outsourcing – accounts payable and accounts receivable – to management accounting, banking and treasury management, we will streamline and improve your processes, providing a cost-effective way to reduce your administration burden, improve productivity and de-risk your organisation.
We want you to focus on running your business, not running a back office.
Our success is built on:
- Our ability to build strong, lasting, flexible and collaborative relationships with our customers
- Our virtual network delivering services across a number of locations, enabling us to provide resources at short notice and resilience to meet any increases in demand without the need for recruitment
- Significant expertise across our workforce of circa 1,000 colleagues
- A service management approach which encompasses a number of quality controls, systems and processes to ensure high quality, cost-effective service delivery. This is flexible enough to cater for particular requirements and complex scenarios of your organisation, whilst being easily scalable to meet significant demand
- A comprehensive approach to data security and confidentiality of information
From a technology standpoint we will work with your preferred financial management system, and have developed a range of solutions and partnerships to complement and extend the capabilities of the market-leading systems. If you are unsure of what core system to go with we offer a service to help you independently evaluate the options and select the optimal system.
Supporting our finance professionals, our developers focus on applying the latest technologies of data analytics, automation and AI to solving the everyday challenges of finance teams. They create cloud-based solutions, which integrate seamlessly to core finance systems.
In addition Liberata’s specialist Business Process Automation division, experts in workflow automation, Robotic Process Automation (RPA) and Machine Learning, can create bespoke applications tailored to your particular needs.
Read more about the different services below:
Financial and Management Accounting
Incorporating a range of fully managed services:
- Accounts Preparation – statutory accounts preparation, compliance with recognised accounting standards, tax returns
- Budgets and Forecasts – preparation of budgets and forecasts, weekly/monthly budget monitoring information for the management team and directors
- Management Accounts and Reporting – preparation of monthly management accounts, including: profit & loss, balance sheet, cashflow statement, monthly close process, variance reports, management information reports and dashboards, bespoke reporting, Key Performance Indicators
- Accounting – preparation and management of chart of accounts/cost centre structures, asset register, manage accounting/journal entries, payroll accounting, intercompany accounting, audits
- Tax & Related Consulting – VAT returns, VAT control accounts, tax advice
Accounts Payable
A fully managed, scalable and efficient accounts payable service including:
- Invoice Processing – providing a rapid and accurate transactional service. We process over 2 million invoices annually
- Supplier Management – on-boarding of new suppliers and ongoing work with suppliers to ensure accurate and timely payments
- Supplier Statement Reconciliation – validating and reconciling supplier statements to ensure that ledgers are accurate
- Supplier Payments – delivering on-time supplier payments as part of the core service or as a resilience function
Accounts Receivable
Vital support enhancing accuracy and pace:
- Billing – providing the end to end billing function. We bill over £4 billion annually
- Account Management – ensuring rapid setup and ongoing management of client and customer accounts, timely billing and robust cashflow
- Recovery, Credit Control & Enforcement – providing the full debt recovery solution for invoices that exceed payment terms, utilising our relationships with the UK’s most effective enforcement agencies
- Debtor Support – liaising directly with vulnerable clients and their representatives
Banking and Treasury Management
Our efficient banking and treasury management service includes:
- Management of Credit / Purchasing Cards – managing card supplier/s, user set up and amendments, monitor and manage card limits/spending rules, upload information to General Ledger, reconciliations
- Direct Debit / Standing Order Management – set up and amendment of instructions, monitor and manage invoices and payments, reconciliations
- Bank Reconciliations – managing relationships with banks and building societies and undertaking continuous, automated, reconciliations of all bank accounts
- Payments – routine and emergency payments: Bacs, Faster Payments, CHAPS, inter-account transfers, foreign payments, cheques, cards, third party distributions, funding and other disbursements, manage authorisations and controls, meet agreed SLAs and Prompt Payment Rules
- Bacs Bureau – facilitate ongoing payments and collections, submission of Bacs files, controls and segregation of duties, testing, accredited bureau
Expenses
Our end to end expenses solution includes:
- Staff Expenses Auditing – best practice auditing, full or random sample auditing, match and validate receipts, focus on tax sensitive and larger amounts where appropriate
- Expense Payments – paying employees in line with policy in a timely and reliable format
Accounting System Selection
Our bespoke service offers:
- Agreement of Key Requirements – key functional requirements, budget
- Request for Proposal (RFP) / Supplier Assessment – manage RFP process, shortlisting of candidate systems
- Evaluation and Selection – functionality assessment, value for money assessment, IT and information governance evaluation, due diligence and contract assessment
Accounting System Implementation
Getting started couldn’t be easier…
- Configuration – core team training and guidance, set up company structure, chart of accounts and cost centre structure, set up key functions, reporting and workflows
- Integrations – set up integrations as required, e.g. payroll, bank account data
- Testing – initial data provision/migration, user testing and troubleshooting
- Go Live – stakeholder communication and wider user training, final data migration, cut over to live like some of our other clients already have!
Duplicate Payment Recovery Service
Our Duplicate Payment Recovery Service will help you generate positive cashflow and boost your profits. With minimal input needed from your team, we’ll undertake a specialist recovery audit of your purchase ledger.
Using our latest innovations in sophisticated analytics, backed up by expert professionals, we will identify historic overpayments, duplicate invoices and unclaimed credits, and then manage the entire recovery process on your behalf. What’s more all of our fees are contingent upon successful recovery of funds – no recovery, no fee!
Back on Track Service
Liberata can offer a helping hand when you find yourself overwhelmed by a backlog of financial administration that you’re struggling to clear on your own. Our team of experienced UK-based finance and accounting staff will work alongside your existing employees to power through the workload, investigate the root cause of the problem and help establish new routines to prevent future issues.
Supplier Statement Reconciliation
Manually reconciling supplier statements is a time-consuming task that rarely makes it to the top of anyone’s to-do list. Our specialist team combines accounting experience with innovative technology to identify errors and omissions that may have been missed. This results in better relationships with your suppliers, improved cash flow and renewed confidence in the accuracy of your ledgers.
Paperless Direct Debit Service
Direct Debit payments provide ease and security for businesses and customers alike. We make the whole process as easy as possible, integrating seamlessly with existing systems and simplifying the online sign-up process to entice more customers to pay by Direct Debit. We provide full end-to-end administration of the Direct Debit process, including managing payment schedules, automating correspondence, production of AUDDIS and collections files, and processing all Bacs reports. These are just some of the many solutions to our finance and accounting services.
