Finance, HR & G&A department
Bookkeeping and month-end, run as a department
When the books are a few weeks behind, every decision rests on guesswork: cash looks better than it is, the month-end takes three weeks, and the year-end turns into a scramble for your accountant. Nexoryl runs day-to-day finance and accounting as a managed department, remotely inside your accounting system, to a close calendar you can rely on.
The first button opens an email to info@nexoryl.com.
You bring
- Your accounting system and bank feeds
- Invoices, receipts and approvals
- Your chart of accounts and policies
Nexoryl runs
- Bookkeeping
- Reconciliations
- Month-end close
- Management accounts
- Year-end support
You get
- Books up to date every week
- A month-end close on a fixed date
- Management accounts you can act on
- Operating model
- A managed finance department with a close calendar, reconciliation checklists and a monthly management pack.
- Delivery model
- Remote. Work happens in your accounting system, bank feeds and document tools, with access you control.
- Usual starting scope
- A clean-up of the books, then weekly bookkeeping and a monthly close for one entity.
- Typical roles
- A finance operations lead, bookkeepers and an accounts assistant, with a reviewer on every close.
- Runs inside
- Xero, QuickBooks Online, Sage or NetSuite, with Dext or Hubdoc for documents.
- Engagement
- A books review and clean-up, then a monthly retainer.
Overview
What is outsourced finance and accounting?
Outsourced finance and accounting means an external team runs your day-to-day finance operations: recording transactions, reconciling accounts, closing the month and producing management accounts, inside your own accounting system.
It sits between doing the books yourself and hiring a full in-house team. Your accountant still handles tax returns, statutory accounts and advice; the outsourced team makes sure the records they work from are complete, reconciled and on time.
Nexoryl model
What does Nexoryl's Finance & Accounting department do?
It keeps your books current and your month-end predictable: coding and posting transactions, reconciling bank and control accounts, preparing accruals and journals for review, and producing a monthly management accounts pack.
Supplier invoices, payments and credit control sit with AP / AR & Treasury. Budgets and forecasts sit with FP&A. Tax returns and statutory filings stay with your accountant.
- Responsible for
- Bookkeeping, reconciliations, month-end close, accruals and journals for review, management accounts and year-end preparation.
- Not included
- Tax advice, statutory audit, signing off accounts, and filing returns in your name without your accountant's review.
- Connects to
- AP / AR & Treasury, FP&A, Data & Analytics and AI & Automation.
The month-end close
Six steps to closed books, every month.
The same sequence on a fixed calendar, so management accounts arrive on the same working day each month.
- 01
Collect
Invoices, receipts and bank feeds gathered and chased.
- 02
Record
Transactions coded and posted to your chart of accounts.
- 03
Reconcile
Bank, card and control accounts reconciled.
- 04
Adjust
Accruals, prepayments and journals prepared for review.
- 05
Review
Balance and variance checks, then sign-off by your finance lead.
- 06
Report
Management accounts pack issued to the agreed date.
Where finance falls behind
Four signs your books need an owner.
None of these mean anyone is doing a bad job. They mean nobody has enough time for it.
Books weeks behind
- Shows up as
- You can't say last month's profit until halfway through this month.
- We look at
- Transaction volumes, document flow and who codes what.
- What changes
- Weekly bookkeeping, so the close starts from current books.
Unreconciled accounts
- Shows up as
- Bank balances in the system don't match the bank.
- We look at
- Reconciliation history and unexplained differences.
- What changes
- Every bank and control account reconciled monthly, with differences explained.
A close that drags
- Shows up as
- Month-end takes three weeks and runs into the next month.
- We look at
- Close tasks, dependencies and owners.
- What changes
- A close checklist and calendar with a fixed reporting date.
Year-end scramble
- Shows up as
- Your accountant spends weeks asking for missing information.
- We look at
- What your accountant needs and when.
- What changes
- Year-end working papers prepared as part of normal monthly work.
What the department covers
Finance and accounting services.
The recurring finance work that keeps the books accurate and the close on time.
Bookkeeping
Every transaction recorded and coded.
- Bank feed coding
- Sales and purchase ledger posting
- Expense and receipt processing
- Document capture and filing
Reconciliations
Balances you can trust.
- Bank and card reconciliations
- Control account reconciliations
- Intercompany reconciliations
- Suspense account clean-up
Month-end close
A close that finishes on time.
- Close checklist and calendar
- Accruals and prepayments
- Journals prepared for review
- Fixed asset register upkeep
Management accounts
Numbers leadership can act on.
- Profit and loss and balance sheet
- Budget versus actual
- Key metrics commentary
- Monthly management pack
Year-end support
Everything your accountant needs, ready.
- Year-end working papers
- Audit request support
- Balance sheet schedules
- Queries answered for your accountant
Clean-up and setup
A sound starting point.
- Catch-up bookkeeping
- Chart of accounts review
- Accounting system migration support
- Process documentation
How remote delivery works
How a finance engagement runs.
Clean books first. Running a close on top of unreconciled accounts just moves the problem forward.
Step 1: Review
Books, reconciliations, close process and documents reviewed.
Step 2: Clean up
Backlog cleared and balances reconciled as a starting point.
Step 3: Set the calendar
Close checklist, deadlines, owners and the reporting date agreed.
Step 4: Operate
Weekly bookkeeping and a monthly close against the calendar.
Step 5: Report
Management accounts issued, with a monthly review of the close.
Journals and adjustments are prepared for your finance lead's review. Nexoryl doesn't sign off accounts or file returns in your name.
Scope and boundaries
What's included, and what stays with you.
Nexoryl keeps the records and runs the close. Advice, sign-off and filings stay with your accountant and finance lead.
Included
- Bookkeeping and ledger posting
- Bank, card and control account reconciliations
- Month-end close to an agreed calendar
- Accruals and journals prepared for review
- Monthly management accounts
- Year-end working papers for your accountant
Not included
- Tax advice or tax planning
- Statutory audit or assurance
- Signing off accounts or returns
- Filing returns in your name without your accountant's review
- Investment or other regulated financial advice
What you provide
- Access to your accounting system and bank feeds
- Documents and approvals, or access to where they're kept
- A finance lead or owner who reviews and signs off
- Contact details for your external accountant
Tools and platforms
Where the work happens.
In your accounting system, with document capture feeding it.
- Accounting systems
- XeroQuickBooks OnlineSageNetSuite
- Document capture
- DextHubdocYour shared drive
- Expenses
- PleoExpensifySoldo
- Reporting
- Your accounting system's reportsSpreadsheetsPower BI
Named as examples of tools we work in. They don't imply a partnership or certification.
Measurement
How a finance department is measured.
Speed and accuracy of the close, and how current the books are between closes.
Close
- Days to close
- Management accounts on the agreed date
- Close tasks completed on time
Accuracy
- Reconciled accounts
- Unexplained differences
- Journals reversed or corrected
Currency
- Days of unposted transactions
- Missing documents
- Suspense balance
Year-end
- Working papers ready on time
- Accountant queries outstanding
- Audit requests met on time
These are measurement categories, not promised figures.
Who does the work
The people keeping your books.
Sized to transaction volume, entities and how quickly you need to close.
Finance Operations Lead
Owns the close calendar, reviews and the management pack.
Bookkeepers
Code, post and reconcile transactions every week.
Accounts Assistant
Collects documents, chases missing information and keeps records filed.
A good fit when
- Your books are regularly weeks behind
- Month-end takes too long or doesn't happen
- Your accountant chases you for information every year-end
- The founder or an operations manager is doing the bookkeeping
Probably not the right fit when
- You need tax advice or tax planning
- You need a statutory audit
- You want accounts signed off by Nexoryl
Ways to start
Three ways to begin.
Most clients start with a books review, because it shows how much clean-up is needed.
Books review
Books, reconciliations and close process reviewed, with a clean-up estimate.
Clean-up project
Backlog posted and balances reconciled as a scoped project.
Managed department
Weekly bookkeeping and a monthly close on a retainer.
Fees depend on transaction volume, entities and close timetable, and are agreed after the review.
Questions
Questions about finance and accounting.
If your question isn't here, email us. Most answers depend on your volumes and systems.
What does an outsourced finance and accounting team do?
It records and codes transactions, reconciles accounts, runs the month-end close and produces management accounts inside your accounting system, so your books stay current and accurate.
Do you replace our accountant?
No. Your accountant still handles tax returns, statutory accounts and advice. Nexoryl prepares the records and working papers they rely on.
Which accounting systems do you work with?
Xero, QuickBooks Online, Sage and NetSuite, with document capture tools such as Dext and Hubdoc.
Can bookkeeping be done remotely?
Yes. Accounting systems, bank feeds and document tools are online, and access is granted per user and removable at any time.
How long does the month-end close take?
It depends on volumes and how clean the books are, but the aim is a fixed reporting date agreed with you and met every month.
Can you catch up on books that are months behind?
Yes. A clean-up project posts the backlog and reconciles balances before regular monthly work begins.
Do you give tax advice?
No. Tax advice, tax planning and statutory filings stay with your accountant or tax adviser.
What do you need from us to start?
Access to your accounting system and bank feeds, your documents or where they're kept, a finance lead who signs off, and your accountant's contact details.
Next step
Know your numbers without chasing them.
Tell us which system you use and how far behind the books are. We'll review them and show you what a regular close would look like.